Again, the problem is a flooded labor market. When you get growth, the demand for labor increases. What should happen is the amount you can demand for your labor goes up, but if you have programs like H-1B and you effectively throw open the border, that won't happen.
I'd sooner see offshoring banned than programs that bring in potentially motivated/skilled workers here (though they should still have limits), and I think it'd be more impactful. Theres the obvious dev/IT impact, and we also have companies like Google and Tesla eliminating humans from the workforce with AI and farming out oversight of that AI overseas. When your Waymo or Cybercab makes an oopsie some guy in Manilla or Nairobi is going to be handling it while the out of work uber/taxi driver is shivering in a tent under a bridge.
Offshoring restrictions tend to founder on practicalities. Exactly what constitutes offshoring? If a company creates a subsidiary in another country and hires people to produce a product, is that offshoring? What about when it buys a product from an independent company in another country?
If I fire a bunch of people in the US and hire the same number of people in another country to work on the same project, that's clearly offshoring. But what if I don't fire anyone in the US? What if I fire them five years later?
The whole thing is a mess for regulation and I suspect if you wrote regulations that weren't easy to bypass you'd hamstring local producers.
That sort of crime-stop thinking is what keeps working class people just scraping by. I said nothing about race or tax policy. You're so busy looking for "code words" only you can read you've missed the point.
Tax policy is a red herring even if you don't realize it. Wealthy people never pay more than about 25% in tax. If you raise the actual tax rate more than that their tolerance for risk goes down and you gimp your economy.
why do you care about wealthy people's tolerance for risk ? nobody thinks of my tolerance for being overtaxed
I have far more in common with tech visa workers who are overtaxed on their W2 wages, than with big capitalist who never sells and never pays a dime to irs
We all care about tolerance for risk. Investing in a new venture is risky, and every calculation is a balance of risk and potential reward. If you tax away the reward, nobody will take a risk, and that will stifle job growth.
No new jobs means more competition for the jobs that exist, and that means lower pay.
there is a huge gap between working class and capitalist class.
https://taxpolicycenter.org/taxvox/effective-income-tax-rate...