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> Not to challenge the notion of tax but to seek an answer: what would be a better solution to the deindustrialization of the US then? You can simply nationali

> Not to challenge the notion of tax but to seek an answer: what would be a better solution to the deindustrialization of the US then? You can simply nationalize manufacturing in critical industries. If you're not willing to go that far then throw incentives at failing industries to compensate for the higher cost of labor, so they can still compete on US soil. This was Biden's philosophy with, say, Intel. The benefit of nationalization (or at least subsidies) is that it doesn't need to pass the tax on to the consumers, and you can pay for it with a tax on oher things (e.g. billionaires) instead.

hintymad 2y ago
> You can simply nationalize manufacturing in critical industries I'm not sure if this works. If anything, I'm strongly against it. Below are my data points: - Chinese dynasties never managed to breed those amazing horses as European did. Since the Song Dynasty, despite government-run horse breeding programs that imported Ferghana horses, these amazing steeds degenerated into those typical Asian stunt horses within just a few generations. - Look at China before 1980s. Everything was stated owned, and all the sectors were miserably corrupted, inefficient, and there was no innovation whatsoever. In fact, Soviet Unions managed to do the same. Yes, they had amazing researchers to make engineering and scientific breakthroughs, but ultimately they could manufacture efficiently. I hate to say this, but the reality was that nobody took China seriously at that time. - Look at Britain. They ran their industries into ground, especially their auto industry, with a semi-state-owned approach. - Look at how the US ran its defense industry. And look at Boeing. Or how expensive it is to build a battleship. It is not even state-owned, but just state-paid with cost-plus pricing. In the end, state-owned industries will fail to incentivize its workers.

hintymad 2y ago

> You can simply nationalize manufacturing in critical industries I'm not sure if this works. If anything, I'm strongly against it. Below are my data points: - Chinese dynasties never managed to breed those amazing horses as European did. Since the Song Dynasty, despite government-run horse breeding programs that imported Ferghana horses, these amazing steeds degenerated into those typical Asian stunt horses within just a few generations. - Look at China before 1980s. Everything was stated owned, and all the sectors were miserably corrupted, inefficient, and there was no innovation whatsoever. In fact, Soviet Unions managed to do the same. Yes, they had amazing researchers to make engineering and scientific breakthroughs, but ultimately they could manufacture efficiently. I hate to say this, but the reality was that nobody took China seriously at that time. - Look at Britain. They ran their industries into ground, especially their auto industry, with a semi-state-owned approach. - Look at how the US ran its defense industry. And look at Boeing. Or how expensive it is to build a battleship. It is not even state-owned, but just state-paid with cost-plus pricing. In the end, state-owned industries will fail to incentivize its workers.