Clever comeback
But all you're describing is a strategy for preserving and if possible increasing the profitability of American business at the heavy price of a dramatic decline in the fortunes of the American worker. Whatever happened to the vaunted ability of the freemarket system to produce win-win outcomes? Does the rising tide cease to raise all boats when Republicans are in power? (He asked rhetorically.)
If this is the inevitable outcome of a couple of centuries of freemarket capitalism, then that system is not the all-powerful solution you'd like to convince us it is. I'll reiterate that it often works well in certain situations, but it's not the universal answer to all problems. That's dogma speaking, not common sense.