McKinley Tariff

Tariffs And Republican Depressions: Benjamin Harrison, Herbert Hoover, Now Donald Trump?

Protective tariffs made sense in the time of Alexander Hamilton and the time of Henry Clay.

But in the late 19th century, big business corporations were able to create higher tariffs that were detrimental to the American worker, consumer, and economy, with the assistance of the corrupt Republican Party of the period.

In 1890, under Republican President Benjamin Harrison, we saw the passage of the McKinley Tariff, named after the future President, and it undermined the economy and contributed to the disastrous Panic of 1893, which affected the nation until 1898.

In 1930, months after the Stock Market Crash, Republican President Herbert Hoover, ignoring the pleas of hundreds of economists, signed the Smoot-Hawley Tariff, which caused a great worsening of the developing Great Depression.

As the decades went by, most Republicans and intelligent Democrats realized that high tariffs were not good, and free trade agreements developed in the 1990s.

Some far left liberals and some far right conservatives joined forces to fight this, and now Donald Trump has declared the inception of “Tariff Wars”, which will bring down the American economy, harm consumers and farmers, and cause unemployment to rise.

Trump is alienating the whole world–including China, Canada, Mexico, the European Union, and more–and instead will destroy the economic lives of millions of his own supporters, if he is not stopped from his crazy, lunatic actions!

Assuming we cannot stop what he is doing, the Republicans will suffer a blood bath, that will put the Republican Party in the dustbin of history.

It is time for Paul Ryan and Mitch McConnell and the Republicans in Congress to show some “cajones”, and turn against Trump before he totally destroys the nation economically, and takes unto World War III against North Korea, who would be helped by China, and Iran, who would be helped by Russia.