Alternate headline: Tax cuts for thee but not for ye
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.
“What’s really encouraging to me is that there are a lot of groups in China that are reform-minded,” Hormats said while addressing a group of foreign reporters in New York City last week.
“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.
“Look, if somebody like me gets a tax break that they don’t need and that the country can’t afford, then one of two things are going to happen--either it adds to our deficit, or we’re taking something away from somebody else,” said Obama.
“Look, there’s no way of getting around that,” said Obama. “Either folks like me are doing more, or somebody who can’t afford it is getting less. And that’s not right.”
You don't need us to fill in the blanks, here. Communist China is officially recognized by the State Department as an "authoritarian" regime. An authoritarian regime that is, none the less, going to cut taxes... a move applauded by the Obama administration. Yet, here, in our post-constitutional, quasi-free market system, the chief executive wants to raise taxes.
He has become such a shamelessly cynical hack that his best defense for what he is proposing is bleating "This is not class warfare" when it so clearly is as you could confiscate the entirety of the wealth of the 1 percent in this country and it still would barely make a dent in the national debt which, as we speak, is hurtling towards $16 trillion and which proves he has zero concept of "basic math".
No big surprise here but his two-pronged 2012 campaign message is sticking it to the rich who will simply find other ways to shield their income resulting in negligible debt reduction and sticking it to future generations who will not be able to shield their income because he lacks the fortitude to address unsustainable entitlement obligations.
Barack Hussein Obama: making it easier every day to pull the lever for Mittens.