Those companies will just raise the prices on their goods in order to compensate for the tax. And virtually all Americans depend on goods manufactured overseas, from their cars (at least parts made overseas) to kitchen appliances to electronics. The cost of living in the U.S. is already too high for the average wage-earner, what you are proposing would send people into crushing poverty.
Cost of living is a really bad measurement. What would really happen is that the prices would go up until stuff could be manufactured here again, at which point those people in crushing poverty will get good union jobs and the minimum wage will go up to cover the inflation.
An IT Union
Those companies will just raise the prices on their goods in order to compensate for the tax. And virtually all Americans depend on goods manufactured overseas, from their cars (at least parts made overseas) to kitchen appliances to electronics. The cost of living in the U.S. is already too high for the average wage-earner, what you are proposing would send people into crushing poverty.
Cost of living is a really bad measurement. What would really happen is that the prices would go up until stuff could be manufactured here again, at which point those people in crushing poverty will get good union jobs and the minimum wage will go up to cover the inflation.