Consumption Seen As Next Big Driver of Growth
Read the above-the-fold headline story. And to get this growth the government wants to:
…raise personal income by scrapping [some] taxes.
Is this another evil plot hatched by George Bush and Karl Rove?
Cooked up by the the Rascally Republicans wanting to reduce taxes?
The headline is not from capitalists in the good ol’ US of A.
The headline is from the communists in East Asia.
Jiao Xiao Yang has the byline in China Daily on 16 March. The government’s leadership would not be happy with the mere 12% GDP eye-popping growth.
It is not enough that 50% of the world’s concrete is poured in China. Or that 40% of the world’s steel is consumed in China.
To get even more growth, the communists want to cut taxes.
Something the communists in our own Congress won’t do.
Let us put the Democrats on a slow boat to, well, China.
The US economy needs 3% growth to keep even with population growth. China needs only 0.6% growth to keep even and maintain existing standards of living.