Comment by no_wizard
7 days ago
>For instance, globalization and offshoring of production has made goods cheaper for consumers, but what about the former domestic producers who could not compete, and do not have the skills or capital to find a new job which pays as well?
We could instead pay for re-education and training for these folks to find jobs that do align better with the global economy and bolster social safety nets to help with job loss.
Tariffs are no guarantee the jobs will come back either or even if some of the manufacturing does come back to the US, that it will employ people who need it most or in the same number. Manufacturing automation is quite sophisticated nowadays. Even if the manufacturing comes back to the US - which I don't think is going to happen en masse if at all - the employment prospects that you're suggesting in this line of reasoning won't come back with them, is what the evidence suggests.
>There really are structural challenges to onshoring production due to strength of the dollar due to its reserve currency status; our society as such is biased heavily toward importing goods rather than exporting goods. This is a real challenge that needs to be addressed as well.
Why? Why is onshoring production of non critical goods a benefit to the US as a whole over the long term? Why do we want to protect manufacturing interests at the expense of other interests? These questions haven't been addressed. Not to mention the pain tariffs are going to cause isn't being addressed either, we're simply told to 'grin and bear it', and for what are we doing that exactly? Whats the actual nuts and bolts plan here?
Everywhere I look at the argument for tariffs I come up short on legitimate answers to these questions
>Our national debt is not sustainable either. Either we pay it down some, or we inflate it away; these are the two ways it goes away, ignoring the option of a world-shattering default on the debt. Tariffs accomplish both of those, raising money at the same time as raising cost of goods and weakening the dollar.
There's other ways to handle the national debt than put broad tariffs on all our trading partners - including allies who have actually been very generous about their trade terms and investments in the US, like Japan, the UK (really much of western Europe), Canada etc.
If we really want to strength the dollar, we could raise wealth taxes (like capital gains or instituting a land value tax for example) and moderate spending. Why are tariffs superior to this? Tariffs only hurt the poor and middle classes anyway, who can't simply fly out of the country for large purchases to avoid them.
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