Wednesday, August 13, 2003

Bush's Big Blunder

Opinion Journal.com notes today George Bush's ability to repeal the unbelievably dumb steel tariffs his administration imposed in March 2002 in an apparent attempt to kill the economy.

Tariffs are always a bad idea, increasing prices to consumers while sheltering uncompetitive businesses. Steel tariffs are especially harmful, because steel is a widespread raw material. It becomes more expensive to build buildings, so housing prices go up. It becomes more expensive to build cars, trucks and railroad tracks, so the price of transportation goes up. And since food is largely, you know, transported, food prices go up.

So thanks to steel tariffs, struggling single mom on a budget finds it harder to pay rent and buy oranges for Junior. The liberal response is to "tax the wealthy" and make the government subsidize single mom, too. How about just taking the government out of the subsidization business and stop "helping," OK?

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