Phil Magness, an economic historian known for his expertise in American economic history, joins the discussion about tariffs in U.S. politics. They dive into how tariffs have evolved from Hamilton and Jefferson's contentious debates to modern implications, particularly during Trump's administration. The conversation reveals how tariffs can act as both economic strategies and political weapons, examining their historical significance and the potential consequences for future trade relations, especially with China.

Phillip Magness, a tax historian, joins the discussion to delve into the historical significance of tariffs in U.S. revenue generation, particularly before the federal income tax was introduced. The conversation touches on Trump's recent executive order about Title IX and transgender athletes, emphasizing its political implications. They also explore the complexities of school choice initiatives and the evolving landscape of education reform. Intriguingly, they contemplate the possibility of revitalizing tariffs as a major funding source for the federal government.

Economic historian Phil Magness critiques proposals to tax unrealized income, debunking revenue predictions. Topics include billionaire tax, challenges of taxing unrealized gains, implications of wealth tax, inflated net worth claims, and wealth inequality narratives.