Donald Trump will become the next president of the United States when the transfer happens come January. In addition, he will have support from the GOP dominated Senate and most likely the House of Representatives as well, although the latter has not yet been affirmed.
So as the new year begins, America will have a federal government dominated by members of the Republican Party.
What does that mean for the future of status of American citizenry? Forecasting is not on the agenda of this commentary column.
But given the comments and preferences of the upcoming president, especially that of economic protection for American business, that can be a major problem.
History tells us that boosting import taxes to protect U.S.-based firms quickly backfires as other nations do the same. Result: Higher prices for consumers.
And as prices rise but income does not, there comes a problem that families in the middle and low income brackets cannot handle.
The consequence can easily be similar to what happened nearly 100 years ago, which quickly led to the Great Depression and subsequently to World War II. Be careful what you wish for. You may get it.
So as the new year begins, America will have a federal government dominated by members of the Republican Party.
What does that mean for the future of status of American citizenry? Forecasting is not on the agenda of this commentary column.
But given the comments and preferences of the upcoming president, especially that of economic protection for American business, that can be a major problem.
History tells us that boosting import taxes to protect U.S.-based firms quickly backfires as other nations do the same. Result: Higher prices for consumers.
And as prices rise but income does not, there comes a problem that families in the middle and low income brackets cannot handle.
The consequence can easily be similar to what happened nearly 100 years ago, which quickly led to the Great Depression and subsequently to World War II. Be careful what you wish for. You may get it.
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