Pure Business School Bull Crap. You could eliminate all taxes and regs on US corporations that are into manufacturing and the tide of off shoring would not be stemmed one iota.
Please compare the economies of Texas and California.
One has a better tax environment and lower regulations. The other one has a worse tax environment, arbitrary government and punitive regulations.
Corporations are happy to move their capital to Texas, but they flee from California like it’s on fire.
Now imagine what would happen if the whole of America was like Texas.