Comment by gcanyon
1 day ago
To the extent this is true, the entire thing could literally be a grift (I'm not saying Trump is smart enough to come up with this, just that people around him are, and he's grifty enough to go along with it):
1. Trump enacts the tariff, despite knowing it will be struck down.
2. The tariff extracts hundreds of billions from the economy.
3. Finance firms buy the potential refund for pennies on the dollar, knowing that Trump has no plan to defend the tariff.
4. The Supreme Court strikes down the tariff, as planned.
5. The finance firms profit on the refunds.
6. We are all poorer, Trump's cronies are richer.
Trump has been obsessed with tariffs for decades. I fully believe he thought this was a great idea. Lutnick, on the other hand, quite obviously forsaw this eventuality (as did anyone who understands how power actually flows in the United States) and encouraged it while preparing to profit massively himself. It's an obvious play, good on him for getting away with it. It's clear at this point that this administration has utterly collapsed the idea of the rule of law, though. 15 years ago this would have been a scandal that would have led to firings and possibly impeachment
It's hardly "good on him". Why is he profiting from failed policies of the government he is a part of?
Good on him? Did you forget an /s? Or do you really feel that if you can get away with grifting the public, good on you?
And now Scott Bessent has single-handedly made tariffs a seemingly illegitimate economic tool. Nice job.