642: 'Republicans should not be in favor of tax increases' (Audio)

Steve Forbes, the editor-in-chief of Forbes Media, the host of the "What's Ahead" podcast, and a two-time U.S. Presidential candidate is speaking at North Dakota State University later this month as part of the Challey Institute's Menard Family Distinguished Speaker Series.

He dropped by Plain Talk ahead of that speech to talk about some of the economic issues pressing on North Dakotans. Specifically, tariffs, which haven't just made selling crops and livestock harder for farmers and ranchers, but has also driven up their costs.

"Tariff is another word for tax, and when you impose a tax you are imposing a barrier of sorts between buyer, seller, producer and consumer," Forbes said. He argues that sweeping and uncertain tariffs, that can change wildly day-to-day based on the whims of President Donald Trump, are slowing down the economy.

He also thinks they're illegal. "Tariffs, because they're taxes, have to go through Congress, and most of those haven't gone through that kind of process," he said, adding that he hopes the U.S. Supreme Court will strike them down. But even setting aside they're legality, the tariffs aren't something Republicans should be supporting, Forbes said.

"Republicans should not be in favor of tax increases," he told us.

Forbes also criticized what he described as "weak dollar" currency policies from the Trump administration — "great countries don't trash their money," he said — and called for a "stable, strong dollar" which will lead to lower interest rates and prevent inflation.

Forbes will be espeaking at NDSU on October 23 at 5:30pm. Click here for more information on how to attend in-person or virtually.

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