Cut the Commerce Department to Boost Real Business | Chris Edwards and Tad DeHaven | Cato Institute: Commentary

Cut the Commerce Department to Boost Real Business | Chris Edwards and Tad DeHaven | Cato Institute: Commentary: "The government shouldn't be 'picking winners' by aiming taxpayer subsidies at certain industries. We should scrap all such corporate welfare and use the savings to cut business tax rates across the board. The effect would be to boost economic growth because more investment would flow to high-value private uses, and fewer resources would be misallocated by politicians."

"These import restraints drive up the prices of foreign goods to U.S. consumers and to U.S. companies that need imports in their own production. For instance, if we place barriers on imported steel, that would hurt U.S. auto companies and their workers in our assembly plants. Trade restrictions that hurt U.S. workers and consumers can also cause countries to retaliate against us, damaging America's exporting businesses, too."