Gary's TOTALLY on the money. It's not that simple at all. What people are talking about would instantly bankrupt the western world and throw us into an immense depression. Unfortunately, economic change only really works when it's gradual, you gotta give time for things like median income, cost of living, inflation, etc. to catch up, or everything will go south for a very long time.
The simple truth is that we in N/A, Europe, and most of the 1st/2nd world rely on the backs of cheap, awful 3rd-world labour. It's not right, true, but everyone looses with trigger-finger changes. We enforce large-scale changes in standards on them, millions loose their jobs over there, cost of living skyrockets here, and the income gap becomes even more extreme than it already is. Don't want to get into politics, here, and I don't really have to... not gonna pretend to know what the answer is, there probably isn't one.