Peter Schiff is saying that the tariffs are bad.
I really respect Peter Schiff, and I'll admit that he knows more than me. I also don't think that Donald Trump is infallible.
However, I just don't s...
@nprofile1q... Tariffs are effectively a tax like any other, only on imported goods exclusively.
The thing that makes the debate silly is our 3.8T national debt. If they were paying off debt with the tariff money, I'd say go for it. But Trump has grown the debt over a trillion dollars in 3 months and then some.
The interest on the debt outpaces any gains from tariffs AND foreign countries buy our debt, so we aren't gaining independence either. It's a mess.
The thing that makes the debate silly is our 3.8T national debt. If they were paying off debt with the tariff money, I'd say go for it. But Trump has grown the debt over a trillion dollars in 3 months and then some.
The interest on the debt outpaces any gains from tariffs AND foreign countries buy our debt, so we aren't gaining independence either. It's a mess.