The "Expert" Who Persuaded Trump On Tarrifs

"MSNBC’s Rachel Maddow walked her viewers on Friday through the origin story of how President Donald Trump’s trade adviser, Peter Navarro, joined the MAGA team during his first presidential run – and brought a phantom source with him to Washington, D.C.

"'You’d think it would take like a grand plan and some big brains to figure out how to destroy the economy of the richest nation on Earth, but that's not how it's working out,' the primetime host told viewers during her show’s opening monologue. 'Turns out, it doesn't take a big idea or a lot of big brains working together.'

"Maddow noted that Trump tasked son-in-law Jared Kushner with finding him an economic adviser, a search that led Kushner to Amazon, where he landed on one of Navarro’s books. That’s when Maddow noted that Trump tasked son-in-law Jared Kushner with finding him an economic adviser, a search that led Kushner to Amazon, where he landed on one of Navarro’s books. That’s when things took a turn for Maddow, who said Friday that Navarro wasn’t the only figure who helped craft Trump’s tariff policy.

“In all of his books, Peter Navarro has cited an economics expert to justify his views, and the economics expert he cites is somebody named Ron Vara, who, Maddow added, sent out a memo around Washington at the start of Trump’s first administration touting the benefits of a tariff policy.

“'The problem is, Ron Vara doesn't exist, he never has,' Maddow said. 'The economics expert that Peter Navarro has long cited to explain why he's so gung-ho on tariffs, this person, Ron Vara, is a made-up person. He is a fictional person. Peter Navarro invented Ron Vara as his expert source, so he could quote this expert source over and over and over again in his crackpot books.'”

(link)

The Key To Personal Wealth

It's not working hard or getting a higher education: it's business ownership (sole proprietorship or stocks).

Click on the link below for an informative video on the above. And, NO, it is NOT a sales pitch:

The System Is Designed To Keep You Poor

Eisenhower Had It Right, Reagan Had It Wrong

"President Dwight David Eisenhower, perhaps the last real Republican, had a 90 percent tax rate for the super rich during his administration.

"Eisenhower explained it this way: The super rich could avoid the high taxes by investing their money in things that make America stronger. If they wanted to avoid high taxes, he said they could invest in business expansions and higher employee wages. They could give a million or two to tax-exempt non-profits that feed, house, and clothe poor people of America, among other things.

"They did some of that, but the Eisenhower years generated enough taxes to launch and complete the labyrinth of interstate highways, the largest road project America had ever seen, and is needed again.

"President Trump said that the recent tax cuts would cause big business to generate more jobs. Federal sources said this week that the tax cuts didn’t bring about more employment. Businesses took the tax break money and squirreled it away or bought back their company’s stock. Greed won. America lost.

"It’s time Congress took control of this country’s economy and do what must be done to take the power away from the greedy rich guys who will never let middle class America bloom the way it did before Ronald Reagan handed the economy to the millionaires and billionaires."

(link, from 2019)

Just Another Republican Lie: The Deficit

 

The Truth About Trump Tax Plan

 

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Click here to learn about the effects of Trump's initial taxes from 2017.

The Southern States In The USA: Why They Are A Problem

Click on the link below for an 11-minute video to better understand why residents of the southern USA are so different than the rest of the country:

Why The US South Is Insanely Poor

Why Monopolies Are Bad

"Late last week, a little-known Chinese artificial intelligence start-up called DeepSeek revealed that it had come up with more advanced Artificial Intelligence than America’s Big Tech companies, and at a tiny fraction of the cost — even without access to America’s advanced chip technology.

"To add insult to injury, DeepSeek has made its technology 'open source' — that is, available to everyone.

"The lesson here is that Microsoft, Amazon, Meta, and Google became too big, fat, and musclebound to remain sufficiently innovative. Instead of out-of-the-box invention, they specialized in marginal improvements.

"By contrast, Chinese tech corporations compete fiercely with each other. This has put them on the cutting edge — and why China has been able to come up with startling innovations (not only in AI but in electric vehicles, batteries, even TikTok and much more).

"China’s secret sauce hasn’t been big subsidies from the Chinese government creating giant 'national champions.' It’s been intense competition."

Click on the link below for more:

American Capitalism just got a black eye

Biden Reminded Us What We Have Lost

"In his final address to the nation last night, President Joe Biden issued a warning that 'an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead.'

"It is not exactly news that there is dramatic economic inequality in the United States. Economists call the period from 1933 to 1981 the 'Great Compression,' for it marked a time when business regulation, progressive taxation, strong unions, and a basic social safety net compressed both wealth and income levels in the United States. Every income group in the U.S. improved its economic standing.

"That period ended in 1981, when the U.S. entered a period economists have dubbed the 'Great Divergence.' Between 1981 and 2021, deregulation, tax cuts for the wealthy and corporations, the offshoring of manufacturing, and the weakening of unions moved $50 trillion from the bottom 90% of Americans to the top 1%.

"Biden tried to address this growing inequality by bringing back manufacturing, fostering competition, increasing oversight of business, and shoring up the safety net by getting Congress to pass a law—the Inflation Reduction Act—that enabled Medicare to negotiate drug prices for seniors with the pharmaceutical industry, capping insulin at $35 for seniors, for example. His policies worked, primarily by creating full employment which enabled those at the bottom of the economy to move to higher-paying jobs. During Biden’s term, the gap between the 90th income percentile and the 10th income percentile fell by 25%.

"But Donald Trump convinced voters hurt by the inflation that stalked the country after the coronavirus pandemic shutdown that he would bring prices down and protect ordinary Americans from the Democratic 'elite' that he said didn’t care about them. Then, as soon as he was elected, he turned for advice and support to one of the richest men in the world, Elon Musk, who had invested more than $250 million in Trump’s campaign."

Click on the link below for :

A Summary of the History and Danger Ahead Regarding the USA

Tariffs, Populism, And Economic Nationalism

"Skeptoid's wheelhouse is science vs. pseudoscience, so some of you might be asking why are we talking about an issue of political policy? We're not. We're talking about a question rooted in science: economics. Economics is very much a science, though there's always debate on whether it's a hard science or a soft science. It's generally considered a soft science, because it studies human behavior and societal interactions, which are harder to quantify and control compared to, for example, chemistry. Some argue that economics should still be considered a hard science due to its heavy dependence on mathematics, including calculus, statistics, probability, game theory, differential equations, and so on. However, these remain difficult to apply; you can mathematically develop all the predictive theories you want, but they're really hard to test by observing human behavior. And so today we are going to look at some hard examples of economic nationalism having been tried in three famous recent cases. Was it a bounty for their economies, or a bust?"

Click on the link below for the details:

Economic Nationalism: Bounty or Bust?

Can Taxing The Rich Balance The Budget In The USA?

This question does have an answer if one is open-minded and is fact-based in thinking. Below are representative opinions. I have mine:

Progressive:

Why neoclassical economics has failed

Bipartisan:

Could tax increases alone close the long-run fiscal gap? Yes.

Taxing the rich could raise trillions but that alone won't fix our fiscal crisis

Conservative:

Biden’s Math of Just Taxing the Rich Doesn’t Add Up

The Limits of Taxing the Rich

Unconditional Cash Transfers: An Efficient Way To Help The Poor

"You’d probably guess that a major factor contributing to homelessness is a lack of money. Yet, very few programs provide unconditional and lump sum cash to unhoused individuals as a solution. There are a number of barriers that have impeded the broad implementation of this type of assistance, which include the lack of policymaker support and public mistrust in homeless people’s ability to manage money. Our guest this week found that direct cash transfers actually result in net societal savings over time. Jiaying Zhao is an associate professor, Canada research chair and a Sauder distinguished scholar at the University of British Columbia. She co-authored “Unconditional cash transfers reduce homelessness,” which was published recently in the Proceedings of the National Academy of Sciences journal. Zhao, who has personally experienced housing insecurity in the past, joins WITHpod to discuss the cognitive taxes of poverty, rethinking the homogenous narrative about who homeless people are, the most surprising findings from the study, intended policy changes and more."

Click on this link for a classic episode of "Why Is This Happening: The Chris Hayes Podcast"

Economic Myths Debunked

Click on the link below for the 10 biggest myths about the economy presented by Robert Reich, former Secretary of Labor for Bill Clinton:

https://youtu.be/HZ3j4hHMO5E

The Democratic Party And Economic Inequality

Robert Reich, Bill Clinton's Secretary of Labor, is one of the most prolific communicators of the truth about the source of economic inequality in the USA. Click on the links below for a 2-part in-depth expose of such, and how the Democratic Party has not been aggressive enough in challenging the lies of Republicans regarding who is responsible for it:

America's Four Stories (Part 1)

America's Four Stories (Part 2)

A summary:

"The Democrats’ weakest story has been the Rot at the Top. Democrats have been reluctant to condemn economic elites who have grown richer than ever and who have used their affluence to corrupt the political system.

"This should not be surprising. Since the 1980s, Democrats have been drinking at the same funding troughs as Republicans — big corporations, Wall Street, and wealthy individuals. And as the Supreme Court opened the spigots of big money into politics, those troughs have become far larger, for both parties."

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"Bernie Sanders told this story about the real Rot at the Top, but other leading Democrats have been reluctant to tell it.

"The Democrats’ failure to tell this story has enabled Republican cultural populism to fill the void, offering Americans who were growing distrustful of the system an explanation for what had gone wrong and a set of villains to blame — immigrants, '“coastal elites,' 'woke'ism, the 'deep state,' transgendered people, 'communists,' 'socialists,' the 'Left,' Critical Race Theory, 'cat ladies,' and other bogeymen.

"But none of these is the real explanation. The real explanation, the real Rot at the Top, has been a new record concentration of wealth and power at the top — enough to corrupt our system of self-government."

Eisenhower Was Right

"President Dwight David Eisenhower, perhaps the last real Republican, had a 90 percent tax rate for the super-rich during his administration.

"Eisenhower explained it this way: The super-rich could avoid the high taxes by investing their money in things that make America stronger. If they wanted to avoid high taxes, he said they could invest in business expansions and higher employee wages. They could give a million or two to tax-exempt non-profits that feed, house, and clothe poor people of America, among other things.

"They did some of that, but the Eisenhower years generated enough taxes to launch and complete the labyrinth of interstate highways, the largest road project America had ever seen and is needed again."

Eisenhower Proved That Higher Tax Rates Could Work

It's Not A New Story

The USA just experienced a brutal "assassination" of the CEO of a major healthcare insurance corporation and there is no lack of conflicting responses to such. Much of the comments from social media are making jokes, fueled by legitimate anger over corporate greed in this area of our economy. While I abhor such responses, I understand what is fueling it. 

Click on this link for an article by my favorite American historian, which places this event in the context of other events in US history that were also motivated by corporate greed.

Beware The Billionaires

"This is an ideology gaining in popularity amongst tech billionaires that the world is inevitably heading toward a collapse, and that instead of trying to prevent that collapse, we should rip off the band-aid as fast as possible to get to the better world on the other side. While there’s a cold logic to it, it’s a dangerous philosophy that ignores the incalculable human suffering that such a collapse would create."

Click on the link below for more about this real sub-terranean movement that is visible through Elon Musk and most of Trump's support:

Why Some Billionaires Are Actively Trying To Destroy The World

A Summary Of Trump's Disasterous Financial Plan

"The economy was a key issue for American voters. Trump has promised to make incomes 'soar' and make the cost of living 'come tumbling down.' But economists — like Financial Times global business columnist Rana Foroohar — aren't convinced. Foroohar says that Trump's plans for deregulation, tax cuts, and tariffs will likely bring an economic downturn. She joins Hari Sreenivasan to discuss the practicalities of the Trump agenda."

Click on the link below for what is ahead for the USA and the planet if Trump is true to his word:

What Will Trump's Economic Plan Mean For America's Wallets?

Leading Economists Strongly Prefer Harris' Economic Plan

"Twenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over former President Donald Trump in a joint letter released Wednesday. Morning Joe economic analyst Steve Rattner joins Morning Joe to discuss the economic plans of both Trump and Harris."

Click on the link below for the details:

Trump’s mass deportation and trade war plans will tank the economy

Trump's Tax Plan Was Harmful, Don't Accept Any New One

"The verdict is in: Trump’s tax scam was trickle-down economics on steroids."

Click the link below for a video from Robert Reich exposing Trump's economics:

Trump’s Tax Scam: Why Nothing Trickled Down

Tariffs: What You Rely On If You Are Economically Ignorant

"Republican presidential nominee Donald Trump is elevating McKinley, representative from Ohio from 1877 to 1891 and president from 1897 to 1901, to justify his plan to impose new high tariffs.

"Trump’s call for tariffs is not an economic plan; it is a worldview. Trump claims that foreign countries pay tariff duties and thus putting new tariffs of 20% on all imports, and as much as 60% on Chinese imports, will bring enough foreign money into the country to fund things like childcare, end federal budget deficits, and pay for the tax cuts he wants to give to the wealthy and corporations.

"This is a deliberate lie. Tariffs are essentially taxes on imported products, and they are paid not by foreign countries but by American consumers. Economists warn that Trump’s tariff plan would cost a typical family an average of more than $2,600 a year, with poorer families hardest hit; spike inflation as high as 20%; result in 50,000 to 70,000 fewer jobs created each month; slow economic growth; and add about $5.8 trillion in deficits over ten years. It would tank an economy that under the Biden administration, which has used tariffs selectively to protect new industries and stop unfair trade practices, has boomed."

Click on this link for more.