Rand Paul

And then those companies buy maybe from China, maybe from Korea, maybe from Vietnam. But each of those individuals who makes those purchases are actually satisfied with it. And that's when the tariffs come in, those are the people who will see the prices. Those are the people you're going to feel the pain. And my guess is they won't love tariffs once they start to see prices rise.

And then those companies buy maybe from China, maybe from Korea, maybe from Vietnam. But each of those individuals who makes those purchases are actually satisfied with it. And that's when the tariffs come in, those are the people who will see the prices. Those are the people you're going to feel the pain. And my guess is they won't love tariffs once they start to see prices rise.

Well, there are two big fallacies. The number one fallacy is that a trade deficit means something. So we've had a trade deficit with China since I think every year since like 1974, 75. And yet we have continued to grow. We've had enormous growth since then, and so have they. So the only time we've ever seen the trade deficit go down is when we buy less stuff during a recession.

Well, there are two big fallacies. The number one fallacy is that a trade deficit means something. So we've had a trade deficit with China since I think every year since like 1974, 75. And yet we have continued to grow. We've had enormous growth since then, and so have they. So the only time we've ever seen the trade deficit go down is when we buy less stuff during a recession.

Well, there are two big fallacies. The number one fallacy is that a trade deficit means something. So we've had a trade deficit with China since I think every year since like 1974, 75. And yet we have continued to grow. We've had enormous growth since then, and so have they. So the only time we've ever seen the trade deficit go down is when we buy less stuff during a recession.

So really, the trade deficit going up has gone up in times of prosperity, and trade deficits go down in times of economic downturn. So it's really the opposite of what people think. And the reason is this. As I was saying previously, The United States doesn't trade with China. Individuals do.

So really, the trade deficit going up has gone up in times of prosperity, and trade deficits go down in times of economic downturn. So it's really the opposite of what people think. And the reason is this. As I was saying previously, The United States doesn't trade with China. Individuals do.

So really, the trade deficit going up has gone up in times of prosperity, and trade deficits go down in times of economic downturn. So it's really the opposite of what people think. And the reason is this. As I was saying previously, The United States doesn't trade with China. Individuals do.

So if a million people went and bought TVs at Walmart and they all came from, let's say, Korea, and they get their TV and they've gotten it because it was good quality and lower price and they saved money, all million, every person, every one of the million people are satisfied with their trade.

So if a million people went and bought TVs at Walmart and they all came from, let's say, Korea, and they get their TV and they've gotten it because it was good quality and lower price and they saved money, all million, every person, every one of the million people are satisfied with their trade.

So if a million people went and bought TVs at Walmart and they all came from, let's say, Korea, and they get their TV and they've gotten it because it was good quality and lower price and they saved money, all million, every person, every one of the million people are satisfied with their trade.

But then somebody comes and draws a circle around how much goes to China or how much goes to Korea, how much comes back, and they say, oh, well, we buy all this stuff from other countries and they don't buy it from us, so we have a deficit. But the fallacy is this. Every person who bought a TV was happy or they wouldn't have done it.

But then somebody comes and draws a circle around how much goes to China or how much goes to Korea, how much comes back, and they say, oh, well, we buy all this stuff from other countries and they don't buy it from us, so we have a deficit. But the fallacy is this. Every person who bought a TV was happy or they wouldn't have done it.

But then somebody comes and draws a circle around how much goes to China or how much goes to Korea, how much comes back, and they say, oh, well, we buy all this stuff from other countries and they don't buy it from us, so we have a deficit. But the fallacy is this. Every person who bought a TV was happy or they wouldn't have done it.

This is the definition of free trade or voluntary trade is as long as it's voluntary, it's always mutually beneficial or the trade doesn't occur. The only trades that occur in a voluntary free market are done because people want to trade.

This is the definition of free trade or voluntary trade is as long as it's voluntary, it's always mutually beneficial or the trade doesn't occur. The only trades that occur in a voluntary free market are done because people want to trade.

This is the definition of free trade or voluntary trade is as long as it's voluntary, it's always mutually beneficial or the trade doesn't occur. The only trades that occur in a voluntary free market are done because people want to trade.

So the fallacy is each individual of the million people who bought TVs were all happy, but then you draw a circle artificially between two countries and say, oh, we're being ripped off. Well, how can we be ripped off if all million customers were satisfied? It'd be the same way if we drew a circle around Kentucky and Ohio and said, well, we have a trade deficit with Ohio.

So the fallacy is each individual of the million people who bought TVs were all happy, but then you draw a circle artificially between two countries and say, oh, we're being ripped off. Well, how can we be ripped off if all million customers were satisfied? It'd be the same way if we drew a circle around Kentucky and Ohio and said, well, we have a trade deficit with Ohio.

So the fallacy is each individual of the million people who bought TVs were all happy, but then you draw a circle artificially between two countries and say, oh, we're being ripped off. Well, how can we be ripped off if all million customers were satisfied? It'd be the same way if we drew a circle around Kentucky and Ohio and said, well, we have a trade deficit with Ohio.