Opposite Day in Global Economics

I never thought I'd see the day where China makes the right decision for fostering a better business environment and the United States makes the exact opposite (and wrong) decision. The article from the Straits Times details how China is reacting to the global economic slowdown. They're doing the intelligent thing by lowering the tax burden on businesses.

And what is the US response to the economic slowdown? How about trying to nationalize industries and creating public works projects (funded with tax payer money). And if you think FDR's plan worked out well for the US, you should think again. This doesn't sound very capitalistic. In fact, it's quite far from it.

Hey Barry!! Wake up and face reality. Taxes don't work, no matter how much you want to believe otherwise. Try relieving the tax burden of your businesses and lower the threshold for new companies to get started.

(Hat Tip to Hot Air)