Wrong and the math is bad as well. Supporting some of low market value is better than supporting all of no market value. Politically speaking, no one is going to run on the idea of a free market of labor. The propaganda of class warriors is too effective. That’s what makes all the so-called progressive tactics so effective. The power grab is cloaked with class or racial justice language that allows one using said cloak to attack detractors as evil.
That said, the US does not live in a vacuum and we have an ascendant power in China that will patiently and ruthlessly exploit our fundamental weaknesses.