Your conclusion comes close to the comment I'll make - besides hurting everybody else with taxes and/or tariffs, this will be another opportunity for the government to pick winners and losers. The money to be "invested" from this fund will go to the cronies of whoever is in power.
Can anybody explain why the US needs another politically-managed slush fund?
We already have the politicians managing the US Treasury. Who will manage this sovereign wealth fund?
Will it be the Congress, who supposedly manages the Treasury? Or will it be the regime that runs the White House and the administrative (a/k/a deep) state? Or will it be the K Street lobbyists, our national version of a private-public (fascistic) partnership?
Or will they just hand off the management duties to BlackCrock?
Your conclusion comes close to the comment I'll make - besides hurting everybody else with taxes and/or tariffs, this will be another opportunity for the government to pick winners and losers. The money to be "invested" from this fund will go to the cronies of whoever is in power.
100% agreed. The government loves being able to pick winners and losers.
Can anybody explain why the US needs another politically-managed slush fund?
We already have the politicians managing the US Treasury. Who will manage this sovereign wealth fund?
Will it be the Congress, who supposedly manages the Treasury? Or will it be the regime that runs the White House and the administrative (a/k/a deep) state? Or will it be the K Street lobbyists, our national version of a private-public (fascistic) partnership?
Or will they just hand off the management duties to BlackCrock?
They haven’t sorted out all the fine print yet, but you can bet it’s going to be “fascistic” in the true sense of the word you're using.