US income inequality continues to grow

[Benton]

(08-03-2018, 04:34 PM)Millhouse Wrote:  

Another idea is to figure out ways to discourage imports into the U.S. from countries with cheap unskilled labor. One reason income inequality has risen since the 1970s is globalization of our companies, and importing goods from places like China using cheap labor so companies here can make big profits from. I think most experts would agree on that, but they also would say the flipside is that those countries income inequality gap is being shortened as poorer people are making more money there.

That's a part of tariffs, and a reason I'm in favor of them. 

Some businesses are complaining that it's going to increase their operating costs — and it will — but if it moves jobs here, then that's a positive. It's like Nike saying they couldn't make a profit making shoes in the US and needed those child labor sweatshops (which, in fairness, I think they've stopped that mostly). If every business followed suit (and many are) by charging $90 for a pair of shoes that cost $1 to make and $20 to market, then hiding the taxable $69 in an offshore account, they're screwing the economy.