Cato Institute

In defending President Trump’s tariffs, Treasury Secretary Scott Bessent insists “Access to cheap goods is not the essence of the American dream.” But imports mean lower prices, better living standards, and good jobs for millions of Americans, and trade restrictions like tariffs make us poorer.

The Trump administration is considering new travel bans—but is it really about protecting the US from terrorism? With a 1 in 4.6 million chance of a foreign-born terrorist attack, these bans do more harm than good. Alex Nowrasteh gives the full breakdown:

President Trump’s confrontational approach to NATO got Europe to spend more on defense. Now, he's reportedly rethinking America’s leadership role in the alliance. The US has signaled—across multiple administrations—that it won't lead NATO forever. Is this the end of US-led NATO? Cato's Justin Logan explores: https://lnkd.in/gTnYNCiP Watch the full discussion with Marc Trachtenberg and Joshua Shifrinson on NATO’s past and possible future: https://lnkd.in/gFMyM-TF

Welcome to Tax Expenditure Madness!? In the spirit of March Madness, I’ve chosen 32 of the most expensive, economically distortionary, and targeted tax expenditures that are genuine tax loopholes for a bracket contest for the worst expenditures in the tax code.? If it were up to me, I’d eliminate all 32 categories of credits, deductions, and exemptions. But which one is the worst? There are some difficult lineups! Voting will take place on X. The energy subsidy quadrant is up today. Vote here: https://lnkd.in/ebHBByjK The rest of the business subsidies go up tomorrow. More information on the bracket here: https://lnkd.in/eDdM8HWV Descriptions of all 32 provisions here: https://lnkd.in/eFX7s24p Cato Institute

This is how endless wars start. President Trump is labeling drug cartels as terrorist organizations, but that won’t fix the drug war. The designation won’t grant new legal powers, but it will strain diplomacy and create a path for military escalation.

With a price tag of $4.7 Trillion, the Inflation Reduction Act is the largest climate subsidy package in US history. Members of Congress are currently debating which parts of the IRA to reform or repeal—so this conversation is timely. Here’s what you need to know about the IRA: https://lnkd.in/gYGqmkzH

President Trump & Musk want to cut spending that conservatives hate—but what about the waste nearly ALL taxpayers oppose? ?? The federal gov spent $181 BILLION in 2024 on corporate welfare—subsidies for big business, paid for by you. ?? Trump’s tariffs? Another form of corporate welfare—propping up politically favored companies at the expense of other companies and your pocketbook. If they’re serious about slashing waste, why not start with handouts to big business?

Trying some new short video responses to current events! Here are my quick thoughts on Meta's recent announcement that it has begun testing its own Community Notes program similar to that on X and a link to the polling I mention. https://lnkd.in/dqJ-tgc5

Mike German, former FBI undercover agent who infiltrated violent right-wing groups, unveils his thought-provoking insights in “Policing White Supremacy: The Enemy Within.” ??Join us on March 26 for this book forum.

Republicans once championed the role that free markets and low prices play in helping people achieve the “American Dream.” Now, some are embracing tariffs and denigrating “cheap” imports. As Scott Lincicome explains, this is bad economics and bad policy.