When unions were in power here they forced the cost of manufacturing up. It used to be we had an advantage because of education now we don't, the rest of the world, at least much of it is passing us up because of what liberals have done in our schools.
With full employment, that does not mean having 93 million Americans sitting on their hands drawing a check from the government, but people working making money will be able to pay the higher prices that American manufacturing would cause. If we could get competition in education again then we would be able to modernize our manufacturing so that our manufacturing costs would still be the least expensive in the world and we could then compete fairly. If we would get rid of all business tax then again we would remove 35% of the cost of an item produced in the US and we could compete fairly. It seems that our government has done everything it could to kill American manufacturing.
Getting rid of business tax that business doesn't pay but consumers pay and then getting rid of repatriation taxes would within less than 4 years give us full employment. When you have true full employment then manufacturers compete for employees by offering them good salaries and benefits.
We gotta get rid of liberal think.
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The downside is that wages for a large swath of Americans is flat or declined. Govt services go up because less people working or making enough to meet ends meet. So there is a huge downside to cheap tube socks, etc.
Also, I have never seen a study that shows that American wages would make American profits go in the red. What is happening is that these companies pocket the difference between American workers and Chinese workers. These companies would still be profitable if made in the USA with American wages - but just not as profitable.