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In reply to the discussion: Fruit Of The Loom Moving Some Operations From Ky. To Honduras [View all]olegramps
(8,200 posts)They grasp the basic concept that if you don't stimulate home production then you will become a supply of rare material and importer of finished goods. As you pointed out, it wasn't until the Civil War that we had a income tax and that was very minimal to support the war effort. Nearly all revenues were generated by tariffs. Tariffs are the only way to protect your industrial base in a world of the haves and have-nots.
How can anyone in the right mind believe that we can compete against companies that ship the necessary machinery and knowhow to a country that pays their workers 28 cents an hour. We can only have fair trade if all the worlds workers were united in unions and even then it would take considerable time for compensation to equalize.