Rumors have it that President Donald Trump is asking “Where are my tariffs?” Tariffs are taxes. We are told by the RNC that all taxes are bad. Tariffs are somehow different… only in name. Frederick Bastiat wrote the candlemaker petition. It was published in 1845. Since that time no one has said,
“Frederick Bastiat you are wrong because of this”.
It was a satirical piece. The candlemakers and tallow producers write a letter to lobby the Chamber of Deputies of the French July Monarchy. The candlemakers and tallow producers have an unfair foreign competitor. The government must help the candlemakers and tallow producers. The government must save jobs. The foreign competitor is….. the sun!!!! The government must create laws for everyone to block out their windows with curtains and use candles.
That will make you think. It will make you reflect. Something isn’t correct with this “Tariffs are good” idea. Of course a tariff on steel will help the steel makers in the USA.
The questions is: At the expense of whom?
Answer: Everyone else.