As a good friend pointed out to me recently, we libertarians have to really take what we can get when it comes to federal politics. Gary Johnson’s lack luster performance during the last election means that over the next four years at least, we libertarians are going to have to make some strange ideological bedfellows. You’d think we’d be used to sleeping with the enemy by now, but even though there are several issues that can bring us on board the Trump Train, many of us feel a natural revulsion to racist, misogynistic, and nationalistic rhetoric. But let me make an argument to you: we can work with this guy.
Yesterday the President met with 12 of the nation’s most powerful CEO’s (including Elon Musk and Marillyn Hewson) to discuss his vision for the American economy. The whole opening speech he gives is worth a listen, but I’d like to zero in a several key points. First, I think it should be mentioned that meeting with corporations in this way smacks of corporate Fascism, but perhaps it’s not such a maniacal move. Many of these companies are more powerful than some nations, and so it makes sense in that context to meet with these CEO’s as the President might meet with foreign dignitaries.
There are two things the President said that really stroke my Capitalism boner. First he said that we are going to “cut taxes massively”. Of course libertarians jump at the opportunity to cut taxes but the obvious question that leaps to mind is “cut taxes for whom?” As long as he’s cutting taxes, I’m happy. But he stipulated that he wanted to cut taxes for the middle class as well as for business. If he can get the House to go along with him on this (and why wouldn’t they?), then I wholeheartedly welcome a major tax cut. Sure it will balloon the debt, but it’s unlikely that we were going anywhere on that front anyway.
Secondly, the President said that we were going to reduce the number of regulations “by 75%, maybe more.” And went on to say that if companies had their choice, they’d choose lower regulations over lower taxes every-time. He’s probably right on that account. We’ve seen a massive reduction in economic regulation before, during the Reagan administration, and it produced what is sometimes derisively called the “Reagan-Thatcher Economic Miracle”. I’m not saying that these policies were perfect then or will be perfect now, but what I am saying is that cutting regulations and taxes by as much as the President is promising is something that gives libertarians wet-dreams.
Of course, none of this is going to make me go out and buy a bunch of MAGA gear, and it’s also not going to soften my attitude towards the White Nationalist movement, but I’m personally reserving a lot of my criticisms of the administration until I’m convinced none of the above is actually going to happen. We’ll see. But I’m hopeful.