President Trump has once again demonstrated his unwavering commitment to making America great again by proposing a return to the economic policies that once made the United States the wealthiest and most powerful nation in the world, namely ending the federal income tax.
In a speech Monday evening, Trump outlined his vision for reviving America's economic golden age through a strategic use of tariffs, a policy that has historically proven to be immensely beneficial for the country.
Trump began by emphasizing the potential for rapid economic growth, stating, "America is going to be very rich again and it's going to happen very quickly." He then delved into the historical context, highlighting the period from 1870 to 1913 as "the richest period in the history of the United States." During this era, the United States relied heavily on tariffs, which Trump noted was a key factor in the nation's prosperity.
One of the most compelling points Trump made was the establishment of the Great Tariff Commission of 1887. This commission was tasked with a unique and enviable problem: deciding what to do with the enormous sums of money generated by tariffs. Trump explained, "And this commission had one function, what to do with all the money that we took in. It was so enormous that they had no idea—it was a blue ribbon committee set up in 1887—and what to do with all of the money that we had." This historical context underscores the immense wealth that tariffs brought to the United States.