OPINION:
It is increasingly important that we Americans begin to understand how the current supply-side trade and economic system works.
The loss of income-tax revenue from well-paying manufacturing jobs has created our stupendous national debt. These jobs, in most cases, have been relocated to poorer countries with few environmental and work standards, where subsidies and currency manipulation are tolerated.
Our government surrenders the revenue from tariffs on most imported goods, guaranteeing that this supply-side system maintains an inventory of cheaper products undercutting U.S. domestic manufacturers.
If those billionaires who are profiting from this outsourcing scheme are taxed enough to repay the national debt being created, the reduced profits will negate their participation.
With this built-in operational conundrum, there does not appear to be a practical solution to replace the lost contribution of tax revenue from the displaced domestic American manufacturing workforce.
LOUIS L. BOEHM
Orchard Park, New York
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