by Matt Margolis, PJ Media:
President Trump has once again demonstrated his unwavering commitment to making America great again by proposing a return to the economic policies that once made the United States the wealthiest and most powerful nation in the world, namely ending the federal income tax.
In a speech Monday evening, Trump outlined his vision for reviving America’s economic golden age through a strategic use of tariffs, a policy that has historically proven to be immensely beneficial for the country.
TRUTH LIVES on at https://sgtreport.tv/
Trump began by emphasizing the potential for rapid economic growth, stating, “America is going to be very rich again and it’s going to happen very quickly.” He then delved into the historical context, highlighting the period from 1870 to 1913 as “the richest period in the history of the United States.” During this era, the United States relied heavily on tariffs, which Trump noted was a key factor in the nation’s prosperity.
One of the most compelling points Trump made was the establishment of the Great Tariff Commission of 1887. This commission was tasked with a unique and enviable problem: deciding what to do with the enormous sums of money generated by tariffs. Trump explained, “And this commission had one function, what to do with all the money that we took in. It was so enormous that they had no idea—it was a blue ribbon committee set up in 1887—and what to do with all of the money that we had.” This historical context underscores the immense wealth that tariffs brought to the United States.
Trump also highlighted the positive impact of tariffs on the presidency of Teddy Roosevelt. When President McKinley was assassinated, Roosevelt inherited a vast sum of money accumulated through tariffs. This financial windfall enabled Roosevelt to undertake ambitious projects, including the establishment of national parks. Trump noted, “And again, Teddy Roosevelt was a beneficiary because when McKinley was killed, he took over this vast sum of money and he did all of those national parks and all of the other things. And I’m not knocking him, but he was given a vast amount of money, and that was all made through tariffs.”
“We had no income tax,” Trump pointed out. “The income tax came in in 1913.”
The historical success of tariffs led Trump to propose a radical shift in economic policy. He argued, “As I said in my speech last week, instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens. Does that make sense? Right.” This proposal not only aligns with historical evidence but also addresses the contemporary challenges facing the United States. By shifting the burden of taxation to foreign nations, Trump aims to enrich American citizens and strengthen the domestic economy.
