Ideal Taxes Association

Raymond Richman       -       Jesse Richman       -       Howard Richman

 Richmans' Trade and Taxes Blog

Raymond Richman, 12/14/2016

by Raymond L. Richman


Democrats and Never-Trump Republicans want an investigation into Russian hacking of the Democratic National Committee’s emails, believing, probably falsely, that the Russians were responsible for the leaks that may have influenced the election in favor of Trump. But the leaks especially Wiki-leaks only revealed e-mails that were never denied. They contained news that the American people were entitled to know. Trump’s victory was a populist, i.e., popular, event similar to Brexit  in the U.K. and the recent elections in Italy. If the leaks were the result of Russian hacks, Russia should be thanked by the U.S. Congress on behalf of the American people for revealing the corruption within the Democratic Party, extending up to its chairwoman. Let’s hope we have more hacks that reveal corruption in Washington and anywhere else. If our intelligence is not hacking Russian emails, it should. U.S. intervention around the world is clear to see. We and NATO, our creation and principal supporter,  supplied weapons to rebels in Yugoslavia, Libya, Syria, and others, organized the overthrow of the legally elected pro-Russian government of the Ukraine, recruited into NATO countries neighboring Russia. Imagine what they would be saying if Russia were join Cuba, Mexico, and Venezuela into a military pact. Revealing the results of hacking may be a sin only when it does not reveal public corruption.


Democrats and the Never-Trump Republicans and most of the media are saying how awful it is that Trump is appointing qualified skeptics civilians and former generals to cabinet posts. In their view, he should be appointing politicians, who as a group organized the decline of America from its former greatness, promoted the fallacious ideas that global-warming is man-made, that carbon dioxide in the atmosphere causes global warming, and the idea that raising the minimum wage is good economics, etc. That these are fallacious ideas has been pointed out on this blog repeatedly.


And the same group of politicians opposes Trump because he believes that trade should be balanced. As an economist, there is nothing that justifies free trade except under the following conditions, the trading partners have a common currency, no barriers to trade, and allow the free movement of labor and capital, again something that we have pointed out on this site repeatedly. Adam Smith was a free trader; he also like Marx believed in the labor theory of value. We should stop giving lip-service to Adam Smith as though he were infallible. As we pointed out on this site several times, a glance at the Bureau of Economic Analysis’s Gross Domestic Product data shows that a trade deficit is a negative in the GDP accounts. Our growth would be double if trade were in balance.

Your Name:

Post a Comment:

  • Richmans' Blog    RSS
  • Our New Book - Balanced Trade
  • Buy Trading Away Our Future
  • Read Trading Away Our Future
  • Richmans' Commentaries
  • ITA Working Papers
  • ITA on Facebook
  • Contact Us

    Jan 2022
    Dec 2021
    Nov 2021
    Oct 2021
    Sep 2021
    May 2021
    Apr 2021
    Feb 2021
    Jan 2021
    Dec 2020
    Nov 2020
    Oct 2020
    Jul 2020
    Jun 2020
    May 2020
    Apr 2020
    Mar 2020
    Dec 2019
    Nov 2019
    Oct 2019
    Sep 2019
    Aug 2019
    Jun 2019
    May 2019
    Apr 2019
    Mar 2019
    Feb 2019
    Jan 2019
    Dec 2018
    Nov 2018
    Aug 2018
    Jul 2018
    Jun 2018
    May 2018
    Apr 2018
    Mar 2018
    Feb 2018
    Dec 2017
    Nov 2017
    Oct 2017
    Sep 2017
    Aug 2017
    Jul 2017
    Jun 2017
    May 2017
    Apr 2017
    Mar 2017
    Feb 2017
    Jan 2017
    Dec 2016

    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    July 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010

    Book Reviews
    Capital Gains Taxation
    Corporate Income Tax
    Consumption Taxes
    Economy - Long Term
    Economy - Short Term
    Environmental Regulation
    Last 100 Years

    Real Estate Taxation

    Outside Links:

  • American Economic Alert
  • American Jobs Alliance
  • Angry Bear Blog
  • Economy in Crisis
  • Econbrowser
  • Emmanuel Goldstein's Blog
  • Levy Economics Institute
  • McKeever Institute
  • Michael Pettis Blog
  • Naked Capitalism
  • Natural Born Conservative
  • Science & Public Policy Inst.
  • Votersway Blog
  • Watt's Up With That


  • [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]

    Journal of Economic Literature:

  • [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....

    Atlantic Economic Journal:

  • In Trading Away Our Future   Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]