Tuesday, December 26, 2017

Maybe an outsider can see things.

"Donald Trump won the US presidency with the backing of working-class and socially conservative white voters on a populist platform of economic nationalism," wrote Prof N Roubini. "But while Trump ran as a populist, he has governed as a plutocrat, most recently by endorsing the discredited supply-side theory of taxation that most Republicans still cling to." Trump has done everything wrong. Deregulation is "blatantly biased against workers and unions", he has not imposed 50% taxes on imports from China, he is less aggressive on immigration than he says, and he has not abandoned the North American Free Trade Agreement or Nafta. But doesn't it show that, as President, he is willing to listen to other points of view and compromise where necessary? Apparently not. He will "continue to tweet maniacally" and "if gassy rhetoric alone does not suffice" he may take "trade action against China", double down on "harsh immigration policies" or embark on "foreign military adventures" against North Korea or Iran. In short he is a liar for having won the election by promising these things but if he actually fulfills his promises he is a "Caligula or Nero". Trump is an outsider and so is unable to govern because he has no idea, wrote Prof S Schier. "Trump is so repulsive not because he offends our civilisation's most basic values, but because he embodies them," wrote G Monbiot. Is it wrong to be an outsider? Sirimavo Bandaranaike, Corazon Aquino and Cristina Fernandez became presidents of their respective countries after their husbands died. Nelson Mandela was in prison for 27 year, George Washington would probably have been hanged if the British laid their hands on him and Jawaharlal Nehru was the first Prime Minister of India after over 1000 years of brutal invader rule. Lee Kuan Yew transformed Singapore from a dirt poor state into a rich modern one. South Koreans rank Park Chung-hee as their greatest president but he came to power in a coup, eliminated opponents and was assassinated. The Republicans in Congress just passed a tax reform law that will apparently add $2 trillion to the federal deficit, wrote D Floyd. The law reduces corporate tax to 21%, from 39.1% currently, and US firms will have to pay taxes on intellectual properties held overseas, which they have been doing to avoid taxes altogether. What if lower taxes tempt US multinationals to shift operations back home? Won't that increase tax collections from companies and from individuals as new jobs are created? The Democrat Party actively worked to suppress Bernie Sanders, which backfired. They are now furious at Trump and probably terrified that his policies might succeed. Outsiders can be good. 

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