The optics from the outside fall between insanity and lunacy. The US would need to reduce its public sector to almost zero, its citizens would need to happily continue to buy more costly imported goods and our understanding of how inflation worked would not only be wrong it would be back to front.
All of that yes. But to multinationals and wealthy, a prospect of minimal taxation is too alluring, as we see from all tax avoidance territories. There is a not-so-special kind of fascism being built and it will attract many white rich people. State oppression is needed to make it work. they have it