No. We offset the tariffs with cuts to the individual and/or corporate income taxes. A 10% increase in tariffs would fund a $1500 per worker cut in income taxes.
Government will still get a nice bump in revenues from the income taxes when people go back to work. Gov't will benefit on the expenditure side too, when they quit having to support all these unemployed people. Gov't should use the proceeds and the savings to reduce the debt and not go spend happy.
Compliance costs for most companies are small. Management complains about them because they are a headache to deal with, but the vast majority of workers in a company don't deal with them at all. Just a portion of management.
The tariffs have to be high enough to offset both compliance costs (small) and the wage differential (Huge) less the other costs differences like transportation. Then Industries will relocate to the U.S.
Taking advantage of cheap labor in foreign countries is fine as long as we are at full employment. At the current 24% unemployment (shadowstats.com) we are divesting of American wealth through offshoring industries and technology and making our own people unemployed.
QED
And thus it is proved.
The unionistas just admitted they will fix the problem of outsourcing that was caused when the Gob'ment meddled in the markets when they instituted taxes and and other unfunded mandates like compliance costs and mandatory minimum wages by:
Wait for it...
Wait for it...
Wait for it...
Even more meddling in the markets by the Gub'ment via tariffs and even more tax regulations.
Question. Wouldn't it be better to just eliminate the government meddling in the markets than to just add on more?
You know its real hard for Congress and lobbyists to screw up the system if you just take away their power to do so.
Here is a graphic representation of the same exact plan used in the Gub'ment spending issue:
A well done to you.
The jobs should come back, whatever it takes, to support families, buy product, pay taxes and when they are financially well enough again to vote for the GOP as they have in the past. This government exists to make things better for American citizens not the world. Let’s make it so.