.....Just my 2 cents.
Brad, after I apply my Canuck-istan tariff's on your 2 cents......it becomes a whole nickel!
But seriously, in my elementary view of the situation I have observed the following:
1. All non-domestic goods consumed by nations (at least the 'have' nations) have not been costing the consumer reality-dollars for a long time.
2. The disparity created by the wildly disproportionate equations of fantasy-dollar cost vs reality-dollar cost, real production cost and market-adjusted valuation on goods has created a fantasy-economy.
The above have created a world where nothing is really worth what is should be. Goods and services, salaries, rents, leases, and yes taxes have all lagged in realistic valuation. Profit-driven production will always seek to lower costs, and in a fantasy-economy this can have devastating long-term impact. We are living that impact now.
How do we come back down to earth? Not without pain. Any form of incentive used to re-stimulate domestic production is going to have deal with the painful process of:
1. creating the value proposition for industry now enduring massive domestic production cost increases (salaries, wages, rents, leases and taxes etc.) without resorting to tax breaks etc.
2. managing devastating consumer cost/debt when shifting from fantasy-dollar closer to reality-dollar cost
3. assuaging staunch resistance to any kind of change, least of all such a fundamental shift both in policy and practice
At the end of the day, this is a global problem, something I can neither fully appreciate nor do I have the mental fortitude to suggest a REAL solution, so off to the politicians desk(s) it is.
For better or for worse....