The Obama Administration loves tax cuts….in China

If what’s good for the goose is good for the gander, then why doesn’t the Obama Administration think what’s good for the Chinese Dragon is also good for the American Eagle?

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 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.

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