Loading ...There is only one way to fix that. Pass laws to bar cheaper imports. Manufacturing (the birth of wealth) would make new US production businesses very profitable and all there their new highly paid employees would all be paying higher taxes. Budget surpluses, thats how it was 1945 to 1975. Unfortunately, giving away all our wealth producing work to Asia plus after 1970 has taken its toll.
I knew all this was going to happen back in the early 1970s when I was punching a time clock. I knew increased foreign competition would kill profits and kill wages and hence kill taxes. All they left us with was wealth and tax absorbing jobs. Especially those stupid environment jobs. They are a drain on the whole system.