Economic Insights: Lessons from the Great Depressions

On Thursday’s Mark Levin Show, when did Democrats last voice concerns over tariffs imposed on our products and services that increase consumer goods prices for us? They appear silent on tariffs from China and Canada today but decades ago they weren’t silent.  From the founding of the U.S. until 1913, tariffs funded about 95% of the government. While some blame tariffs for the Great Depression, Milton Friedman argued it resulted from a recession exacerbated by the Federal Reserve’s tight monetary policy, not tariffs. Trump is pursuing an unprecedented strategy in U.S. history by combining massive tax cuts, deregulation, reductions in government size and personnel, and tariffs, all with the goal of re-industrializing America. Do tax cuts cause inflation or cause deficits? No. Inflation stems from government actions, not the private sector. Tax cuts create economic growth, wealth, and prosperity - across the board.

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