Obama Admin: Tax cuts work in China, just not in the U.S. (extremist, Barack Obama)

[Little-Acorn]

Obama Admin: Tax Cuts Work in China, Just Not in the U.S. - Erika Johnsen

Obama Admin: Tax Cuts Work in China, Just Not in the U.S.

by Erika Johnsen
Apr 07, 2012 08:53 AM EST

While speaking recently about the communist government in China, Undersecretary of State Robert Hormats -- an Obama appointee -- praised China's decision to spur economic growth by lowering taxes. So, at least somebody in the Obama administration definitely understands and embraces the basic lower-taxes-equals-higher-productivity principle of free-market economics, while President Obama himself chooses to neglect that certain principle. I award the administration zero points for consistency on this one:

Originally Posted by President Obama

“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.
“But if you’re making more than $1 million a year, you can do a little more,” Obama said. “This is not class envy. This is not class warfare. This is basic math--that’s what this is.

(snip)

Republicans and Democrats -- in fact, particularly Democrats -- all agree that a government can (read: can, not should) use taxes to discourage certain behaviors. Why does President Obama want to discourage people from being rich? From working hard, being highly productive, diversifying the economy, and providing a product or service that a lot of people want to buy? Anyone who calls President Obama a practical socialist is often deemed a crazy right-wing extremist, but, sorry folks -- this Robin-Hood mentality is pretty darn socialist, and it's an embarrassment to our country.

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(Full text of the article can be read at the above URL)

BTW, The author mis-calls the "Robin Hood mentality". By the Robin Hood legends, he took money from Government tax collector and treasury agents; and gave it back to the people who had actually earned it - farmers, cobblers, housewives etc. Robin Hood was a conservative! This is not at all what the Obamanites are doing, obviously.

Note, too, that Obama describes tax CUTS for China - long-term laws the people can count on year after year, and plan on. But for the U.S., he describes only tax BREAKS - one-time cuts that will be gone next year, and are worthless for planning purposes and cannot "stimulate" any long-term economic plans... such as hiring new employees, making capital purchases (new machinery, buildings etc.). -LA

[freemkt]

Tax cuts in the US make unskilled workers worse off.

[noexcuseforignorance]

Did you not pay attention when people were teaching thesis statements in high school? That entire post is a mess.

In terms of tax cuts, they do stimulate the economy. That's probably why the Obama administration put forward tax cuts in the stimulus bill. Sorry, but what's your point?

[A Common Anomaly]

Notice that the OP only cares about tax cuts for the uber rich while ignoring the fact that Obama has cut taxes for most in order to spur demand and consumption, just like China.

There is some good spin happening here.

[stillkit]

Duplicate thread. And, a day late. Please learn to use the search function.

[freemkt]

Originally Posted by noexcuseforignorance

In terms of tax cuts, they do stimulate the economy.

That's why tax cuts make unskilled workers worse off.

[jackmccullough]

It doesn't usually make sense to argue about religion, and that's the territory we're in here. For Republicans, their religion is that tax cuts, always, no matter what the budgetary or economic circumstances, are the only way to salvation.