That is not necessarily true. It is a generality. Currently government spending is helping corporations build out factories.
Supply-side economics made it wiser to offshore factory output. That left this country much poorer and now over $34 tr in debt.
That is true but if the factories are offshored, then we get poorer as a nation. The money leaves this country. The competition coming in is from overseas which hastens the country’s indebtedness.
You mentioned extremes versus minor tweaks. The middle ground is working. It would work a bit better with slightly higher taxes. I am against extremes like in the 1950s. That was poorly done back then.