Wow, won't it be GREAT when the government fixes "pour broken tax system" and all those "Good American Jobs" come back here? Yahoo, I can't wait.
But . . . didn't Ronald Reagan offer some wisdom on this topic, generally???
So, could it be that the brilliant leadership of Paul Ryan and Kevin Brady might not bring the promised rewards? What if we add in the wisdom and insight of Martin Feldstein, Alan Auerbach and Douglas Holtz-Eakin? If all five of these visionaries are in charge of bringing back "Good American Jobs", we can rest easy, right? It's definitely going to happen?
I mean, when we have to take one for the team under the Border Adjustment Tax. You know, skyrocketing dollar exchange rate, import taxes, inflationary firestorm, cutting costs and laying off workers - it will ALL be worth it, because they are so so SO sure they're right, and they're just dying to help us. Clearly we can't help ourselves, heaven forbid. We can trust them. They know what they're doing!
I seem to recall that other do-gooders in the government decided to solve another big problem for the free market over the past couple years, labor rates. So unfair to the American worker, very open-and-shut. So the last government took it upon themselves to override the free market and drive labor rates above market levels.
This was purportedly a good thing because it is, in fact, very hard to live on the minimum wage, and too many people have to support families on the minimum wage. Noble motives, but the problems with the idea were obvious. Businesses might raise prices, cut spending or automate, or all three. And many folks earning at minimum wage are not well-educated or well-trained and have scarce resources available to survive changing market conditions.
So were the actions defensible? Smart?
I suggest you check out "Flippy". Flippy does what teenagers have been doing for decades, he flips burgers. With Flippy on the job now, teenagers can finally spend more time on the street corners or perhaps hacking into secure computer systems. Something better than earning $9.00 an hour . . . because that's illegal in many places now.
And if Flippy was born out of rising minimum wages, imagine what a maelstrom like the Border Adjustment Tax will do to jobs here. The only surviving job for humans that any of us will qualify for is Congressman . . . .
Say hi to Flippy!