Economist Peter Schiff said Monday that President Donald Trump’s economic approach is “left of center,” arguing the White House is closer to Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Elizabeth Warren (D-Mass.) than to Ronald Reagan or Barry Goldwater.
Peter Schiff Says Both Parties Have Shifted Leftward
The comments came as Republicans floated tariff-funded rebate checks and the administration expanded interventionist policies.
“When it comes to economics Trump is not a conservative. He is not even a moderate. He is left of center. He is closer on the political spectrum to AOC and Elizabeth Warren than he is to Ronald Reagan or Barry Goldwater. The problem is that both political parties have moved left!” Schiff said on X.
Schiff said the shift spans the GOP and Democrats, framing today’s fights as degrees of government involvement rather than limited-government versus big-government economics.
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Tariff Rebate Plan Triggers Growing GOP Split
Schiff also blasted a Republican idea to use tariff revenue for taxpayer rebates, calling it misguided.
Many Republicans have rejected the rebate concept, preferring to apply tariff money to the debt, while Trump has publicly weighed some form of payouts. According to a Reuters report, Trump officials have also discussed directing tariff revenue to farm aid, highlighting a more hands-on approach than traditional GOP orthodoxy.
In an op-ed on The Hill, HalfCourt Capital MD, Robert May wrote that “through a series of interventions that would make any central planner proud, the champion of free enterprise has become America’s most effective socialist leader,” citing recent policy moves to make his case.
Critics Warn Of Blurred Market Lines, Risks
The White House says tariffs can fund priorities or relief. At the same time, critics warn the mix of rebates, targeted aid and industrial policy blurs market lines and could redefine the GOP’s economic brand.
According to a report by The Crimson, Harvard economist Jason Furman, meanwhile, stated on Monday that attempts to influence the Federal Reserve could harm the U.S. economy beyond the next four years, speaking at a Harvard Kennedy School panel.
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