And now that he’s President‐Elect Trump, that pattern is continuing. Consider his approach to American businesses. In the space of just a few minutes, he manages to be a Reaganesque tax cutter and an Obamaesque cronyist.
I discussed this bizarre mix in a recent interview with Dana Loesch.
I guess the only way to make sense of Trump’s policy is that it’s a random collection of carrots and sticks. The carrots are policies to encourage companies to create jobs in America, and Trump is proposing both good carrots such as a much lower corporate tax rate and bad carrots such as special Solyndra‐style handouts (except, instead of loot for green energy, firms get loot for maintaining production in America).
And the sticks are all bad, ranging for public shaming to explicit protectionism.
As I said during the interview, Trump is probably scoring political points, but what we should really care about is whether policy is moving in the right direction.
The Wall Street Journal is rather skeptical, opining that Republican‐backed cronyism will be just as bad as Democrat‐backed cronyism.