Cato Podcast

Ilya Somin, B. Kenneth Simon Chair in Constitutional Studies at the Cato Institute, dives into the complexities of deportation policies and their implications. He discusses a pivotal Supreme Court ruling that mandated the return of a Salvadoran man, raising questions about governmental overreach. The conversation highlights the intricate ties between U.S. foreign policy and domestic immigration law, as well as the risks these policies pose to citizens' rights. Somin emphasizes the importance of judicial compliance in the face of administrative actions regarding deportations.

Meta's trial for alleged monopolistic practices could change how mergers get done and if they get done. Cato's Jennifer Huddleston and CEI's Alex Reinauer comment. Hosted on Acast. See acast.com/privacy for more information.

Ilya Somin, B. Kenneth Simon Chair in Constitutional Studies at the Cato Institute and a law professor at George Mason University, dives into the contentious 'Liberation Day' tariffs. He explains their shaky legal foundation, using emergency powers without proper context. The discussion highlights the constitutional implications of delegating authority from Congress and the challenges posed during national emergencies. Somin also explores a lawsuit aimed at these tariffs, showcasing a rare cross-ideological alliance against trade measures.

Join Adam Michel, Director of tax policy studies at the Cato Institute, as he uncovers the hidden costs of federal tax withholding. He argues that this policy obscures the true burden of taxation, making it harder for taxpayers to grasp their financial obligations. The discussion ventures into alternative tax structures like a negative income tax and a simplified flat tax, aiming to empower citizens with clearer fiscal responsibilities. Michel also contemplates how ending withholding could prompt demands for a leaner government and greater accountability.

Adam Michel, the Director of tax policy studies at the Cato Institute, breaks down the hypocrisy surrounding tax expenditures. He reveals how taxpayers cheer for their own benefits while deriding those that serve others. The discussion dives into egregious tax breaks that clutter the system, like deductions for pass-through businesses. Michel also highlights taxpayer favorites, such as the mortgage interest deduction, and examines how these preferences shape political landscapes. He advocates for a grand bargain in tax reform that could streamline the tax code by eliminating some benefits to reduce rates for everyone.

Norbert Michel, Cato’s Vice President and Director of the Center for Monetary and Financial Alternatives, dives into the misconceptions surrounding free trade and its impact on the middle class. He argues that tariffs are based on misunderstandings of data and that free trade has greatly benefited most Americans, contrary to common belief. Michel challenges nostalgic views of the past, unpacks wage stagnation, and emphasizes the economic progress since the 1970s. He encourages a recognition of the advantages of trade agreements for both the U.S. and its partners.

Colin Grabow, Associate Director of the Cato Institute's Herbert A. Stiefel Center for Trade Policy Studies, unpacks flawed tariff arguments. He reveals how tariffs often harm consumers more than help them. Grabow discusses the unintended consequences of leaving the Trans-Pacific Partnership and critiques the misconception of seeking self-sufficiency in trade. He also debunks the myth that tariffs boost manufacturing jobs, instead emphasizing the importance of free trade for foreign investment and economic growth.

Ian Vasquez, Director of the Cato Institute Center for Global Liberty and Prosperity, dives into the controversial tariff policies influenced by President Trump, drawing parallels with authoritarian regimes. He emphasizes the detrimental effects on the U.S. economy and global trade, explaining how these policies stifle true free trade. The conversation highlights the importance of maintaining open markets for global prosperity and critiques the outdated fears surrounding foreign competition, using bananas as a metaphor for comparative advantage.

Scott Lincicome, Vice President of General Economics at the Cato Institute, delves into the flawed rationale behind President Trump's recent tariffs and their economic repercussions. He critiques the lack of reciprocity in these policies, highlighting how they could escalate global trade tensions. Lincicome also discusses the complex impact on American manufacturing and the challenges it poses to businesses. Lastly, he examines the shift in global trade dynamics as nations adapt to U.S. policies, illustrating a resilient global support for free trade.

Jai Kedia, a research fellow at the Cato Institute specializing in economic policy and trade, dives deep into the ramifications of the recent tariff regime imposed by the President. He explains how these tariffs strain the Federal Reserve's attempts to control inflation, highlighting the risks of stagflation. Kedia argues that the effects of tariffs are far from temporary, leading to fewer consumer choices and higher prices. He also critiques the notion that inflation is solely a monetary issue, revealing the complex interplay between tariffs and market health.