“The Republican Party embarked this week on a haphazard experiment in economic policymaking, wagering that the United States can weather a monumental tax increase in the form of broad tariffs on imported goods as long as Congress also cuts taxes on income,” the New York Times reports.
“It’s a mash-up that many investors, economists and even some G.
O.P. lawmakers expect to be a failure.”Said Douglas Holtz-Eakin, a conservative economist: “I always think that with gambling, at least you have a chance of winning. This is worse than that. This is betting with the mafia. You’re going to lose.”