"In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? Anyone?... the Great Depression, passed the... Anyone? Anyone? The tariff bill? The Hawley-Smoot Tariff Act? Which, anyone? Raised or lowered?... raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression. Today we have a similar debate over this. Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. "Voodoo" economics."
(above in bold type for Trumpers who love tariffs -- it literally has already been tried)
Fun fact: Ben Stein, who played Ferris's teacher, actually has a degree in economics from Columbia University, and was giving a real lecture on economics for that scene which he wrote himself. He also worked as a speechwriter for US Presidents Richard Nixon and Gerry Ford.
Vance; ill back you all the way boss, il kiss your ring again if you ask me?
Trump; nah you started to wear the fake gold off already. I got somethin else for you to kiss to prove your loyalty though
Vance; boss i already did that, a couple times
Trump; so once more wont hurt, you said you liked it!
Vance; no boss i said i liked your cologne!
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u/the2belo 1d ago
Trump: Look, it's real simple. Whatever mileage we put on, we'll take off.
Vance: How?
Trump: We'll walk to Washington backwards.