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

concettaadams Wrote: Apr 09, 2012 11:38 PM
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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:

“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,...