Quote:
Originally Posted by ThePrince
Interestingly enough, he made no changes to the policies you listed. If the tariffs and tax cuts were so bad for the economy, why didn’t Biden remove them? And how did the economy recover so well if these things were such a detriment?
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You do know how laws work? You can't arbitrarily change laws that have been passed previously without creati9ng new law? You have to work under the framework left by the previous guy and then make appropriate changes through the passage of new law. Biden could NOT make changes to the laws put in play himself. Those tax breaks had to expire, which is on the table for the next congress. The tariffs were implemented poorly and needed to be altered through new law. While they were maintained, they were done so for the IRA to be paid for, as opposed to going full Trump and just slapping that on the credit card. The IRA actually used tariffs the way economists suggest rather than just creating a trade war, using them to build capacity in key areas so the local economy can compete and flourish. Therein lies the rub. Trumpist don't understand how these things work and think he did a great thing, failing to understand that he still reduced manufacturing capacity by offshoring more jobs and only driving prices up and causing inflation. There was not benefit to the economy by those tariffs other than to punish China.