The Tariff Issue; Chinese did not steal American jobs by selling below US cost
The only way to bring home the offshored American jobs is to change the way US corporations are taxed. No, this does not mean to lower corporate taxes. The way to bring the jobs home is to tax corporations on the basis of the geographical location in which they add value to their products. If US corporations produce in the 50 states for their US market, the tax rate would be low. If they produce abroad in China or elsewhere for sale in the US, the tax rate would be high.
The tax rate on offshored production for US markets would be calculated to offset the lower labor and regulatory costs abroad.
Americans, as they always do, got sold a bill of goods called “globalism.” Globalism is the deception used to destroy labor unions, deprive the American work force of middle class jobs, and strip them of their bargaining power. It is also the deception used by transnational agri-business to drive self-sufficient third world peoples off their land and convert the country’s agriculture into the production of a mono-crop export commodity.
The evil done by globalism has taken a toll on both first and third worlds. It is entirely the result of first world capitalist profit-maximizing. It has nothing to do with China.
China is being blamed not because its industry produces cheaper than our industry, but as a scapegoat to hide from view the fact that US global corporations alone are the cause of the lost American jobs.
Tariffs cannot bring back the jobs.
via Information Clearing House The Tariff Issue