Little-Acorn
Well-Known Member
http://townhall.com/tipsheet/erikaj...min_tax_cuts_work_in_china_just_not_in_the_us
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:
Wow. Those are among the most distasteful comments I've ever known President Obama to utter -- and that's saying something. He keeps trying to disclaim his basic point -- "this is not class warfare" -- but that's exactly what this is. The lecturer-in-chief is trying to make the case that if you sit above a certain arbitrary income level (apparently, $1 million a year is the magic number), you are actually depriving somebody else of that income. As if there is a finite supply of prosperity to be had, and there's only a certain amount available to go around. As if people don't create wealth, but rather just hoard money.
Honestly, what does he think "the rich" do with their income above a million dollars? Eat it? As if privately held money isn't put to a productive, well-allocated use that contributes to economic growth, which helps everybody. I don't think President Obama really understands the basic term "opportunity cost" -- and it's either straight-up economic malpractice, or something worse.
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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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
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:
President Obama said:
Wow. Those are among the most distasteful comments I've ever known President Obama to utter -- and that's saying something. He keeps trying to disclaim his basic point -- "this is not class warfare" -- but that's exactly what this is. The lecturer-in-chief is trying to make the case that if you sit above a certain arbitrary income level (apparently, $1 million a year is the magic number), you are actually depriving somebody else of that income. As if there is a finite supply of prosperity to be had, and there's only a certain amount available to go around. As if people don't create wealth, but rather just hoard money.
Honestly, what does he think "the rich" do with their income above a million dollars? Eat it? As if privately held money isn't put to a productive, well-allocated use that contributes to economic growth, which helps everybody. I don't think President Obama really understands the basic term "opportunity cost" -- and it's either straight-up economic malpractice, or something worse.
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.
-----------------------------------
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
