It’s an Obama world…
The Obama Administration praised recent tax cuts in China this week while at the same time pushing tax hikes here in the United States.
CNS News reported:
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While making positive comments about the most recent five-year-plan developed by the Communist government of the People’s Republic of China, Undersecretary of State Robert Hormats specifically applauded China’s decision to lower taxes because it would spur economic growth…
…“China wants to have better distribution of income, for instance,” said Hormats. “China wants to depend less on exports and more on domestic demand, domestic consumption. China wants to address its environmental problems. It wants to deal with issues of corruption. All these things are big pluses.
“China lowered taxes very recently, which will help increase demand, but it’s also good to boost consumption in China,” said Hormats. “So I think what’s interesting is that—sure, there are issues with China that I’ve mentioned–but I think a lot of the reform procedures that are going on in China are consistent with the kind of things that we think will be good for China and for the global system.”
Meanwhile, in a speech in Vermont on Friday, President Barack Obama argued that it was “basic math” that taxes needed to be increased on wealthy Americans so the government could provide more to the poor.
Now that’s some logic that only a diehard liberal could love.