man, maybe the US shouldn't have let the supply chain move to asia so our upper 10% could get rich and especially our upper 1% could get really rich and especially especially our upper .1% could get super-duper rich, oh well, too bad nobody said that back then and were laughed off the national stage
That is basically what tariffs are, it taxes the wealth gained by offshoring. When you do that offshoring no longer provides you with cheaper goods and you get the current imminent downturn.
Other than that it is very hard to tax profits generated in another country.
Is it? What if you hold shares in US traded equities? Can you still be a major shareholder if you somehow transfer that to an entity in another country?
And maybe a mutual taxation reciprocity agreement with other like minded countries could defeat those games?
I'm not convinced the supply chain moving isn't just ... how it was going to play out. I don't think you need a conspiracy to discover cheap labor is a place to do manufacturing.
It'll make America richer.
It'll encourage world peace. (It's hard to go to war with a country you trade with a lot)
The disadvantages of this were that high labour manufacturing left America and the poor had less jobs, and most of the wealth went to the elites and blue states. Funnily enough the politics of the red states was what prevented the (from free trade, in total greater) wealth from being spread around because it's apparently communism.
