So Much For The Tax Pledge
September 14, 2009, 10:04 am
“I can make a firm pledge….no family making less than $250,000 will see any form of tax increase…..not any of your taxes”-Barack Obama, September 12, 2008
Oops, well, so much for that, as Obama imposes a 35% tax on Chinese tires, requiring higher prices be paid by the majority of Americans. This is a broad-based tax aimed at supporting one narrow American industry, as a payoff to the United Steel Workers who have been sad that the UAW has been getting all the political gravy of late.
Suppose the Chinese government is massively subsidizing tire exports — that they are taking Chinese taxpayer money and directly applying it to tire exports to reduce prices in the US. What should our response be? Mine would be: Thanks, suckers. If the Chinese really want to tax their people to subsidize lower US consumer prices, why in the world would we want to stop them?
Oh, and remember that Obama pledge to be all lovey-dovey with the rest of the world instead of that nasty confrontational Bush administration? Well, forget that too:
HONG KONG — Just two days after the United States slapped Chinese tire imports with hefty tariffs, Beijing has hit back by saying it would launch an anti-dumping investigation into automobile and chicken products from the U.S.
[...]
The “protectionist” policy that seems to have triggered the Chinese tit-for-tat investigation was an order signed on Friday by President Barack Obama that imposes a 35% tariff on tires imported from China on top of the existing import duty of 4%.
...
coyoteblog.com
# Colin:
This pledge was ditched a long time ago with cigarette tax hike.
September 14, 2009, 12:07 pm
coyoteblog.com |
