When people are rejecting reproduction and family to play video games and go on vacation, that’s an impact.
Obviously, propping up the economy in that way has helped to spark socio-political issues. Long to short, the Fed is "against" the middle class and immigrants are taking the brunt of the blame for it.
FYI - It was my comment this sub-tread is from.
Personally, I grew up in a rural area in NY that is basically being systematically wiped away, because of these policy decisions made in a vacuum that few people understand.
People blame "the other" and get caught up in racist nonsense. Meanwhile, we're reverting into ancient latifundia and turning into a society where basic human needs aren't being met.
As for Japan's economic stagnation of the last couple decades? Relatively low immigration.
We need a way to restore manufacturing industry to the US, the loss of which played a large role in the erosion of the middle class. Protecting manufacturing and factory jobs used to be a selling point for Democrats but things have been a little turned upside down lately.
Maybe a patchwork of all sorts of federal programs, better Medicare here, some more govt jobs there, etc? A direct refund would probably work much better.
Tarrifs directly benefit American workers and factories, who find their prices 20% more competitive.
They don't, though. Here's a great map of the net negative effects tariffs have on the state of your choosing: https://www.uschamber.com/tariffs
The first two states checked out were funky. That there are $659M of wireless phone exports from Calif to China doesn't pass the smell test. It's an incredible claim requiring incredible proof but there's nothing there despite the state being colored in as suffering Extremely Significant Damage. Another state, Florida, gets off more easily and only suffers Very Significant Damage. Drilling down it turns out the goods being tariffed aren't good at all: The tariffed items are literally scrap gold jewelry and scrap metals.
California's stealthy cellphone export I'm pretty sure don't exist. I'd argue that Florida's scrap exports are resources better kept in country as feedstock to help spur on-shore manufacturing.
I'm going out on a limb and expect the remaining 48 states are showing tariffs on bulk minerals, ag products, trash, and make-believe products. Tariffs on these items are positives insofar as they keep input costs low for domestic producers.
The loss of those jobs disproportionately affected minorities. Increases in corporate tax is easily avoided by domicile changes. Tariffs are a simple way to restore balance. Build it here. Hire here. No tariffs.