The ideas of ‘protectionism’ and ‘mercantilism’ are not new. They have ruined countless economies throughout history. Donald Trump did not make these ideas up. Sadly, however, he has embraced them to a large extent. The idea of trade being a zero-sum game where there are winners and losers is deeply flawed.
This flaw appears in one of Trump’s latest Tweets, where he writes:China has been taking out massive amounts of money & wealth from the U.S. in totally one-sided trade, but won’t help with North Korea. Nice!Let’s put the topic of North Korea and foreign policy aside and focus on the trade aspect of the statement.
China is not “taking” anything from Americans. The Chinese have no taxing power over the American citizen. To tax is to take by force, and we all know who taxes Americans into the dirt, right?
The U.S. federal government.
They’re the takers, and they take trillions of