Gravitymaster 0 #1 November 27, 2012 QuoteTax cut to benefit over 900,000 enterprises NANJING, Nov. 26 (Xinhua) -- China's new round of structural tax cutting is likely to benefit more than 900,000 enterprises nationwide, according to a working conference held here on Monday to discuss the country's piloting of replacing business tax with a value-added tax (VAT). About 710,000 enterprises have been covered by the tax-cutting program, and another 200,000 will be included starting from Dec.1 this year, according to the meeting jointly held by the Ministry of Finance and the State Administration of Taxation. Shanghai piloted the program on Jan. 1 this year in an effort to decrease the overall tax burden and boost the transportation and service sectors. The pilot was then expanded to provincial regions including Beijing, Guangdong and Zhejiang later this year. Tianjin, Hubei, Zhejiang and Ningbo will also join the program from next month, under previous plans. All the works are progressing in an orderly and effectively manner, and the performances of the launched pilot programs have exceeded previous expectations, said representatives at the conference. The reform has effectively promoted the growth of tertiary industry, especially the service sector, and encouraged the development of small and micro-sized enterprises, those present at the meeting agreed. In Shanghai, the tax cut has helped reduce enterprises' tax burdens by 22.5 billion yuan (3.57 billion U.S.dollars) in the first 10 months of this year, while in Beijing, the new measure has cut tax revenue by 2.5 billion yuan in two months. At the meeting, Vice Finance Minister Wang Jun urged further work to ensure full success of the pilot programs, following the development blueprint mapped out at the recently concluded 18th National Congress of the Communist Party of China and related government meetings. Those stupid Chinese. Don't they know tax cuts do nothing to stimulate the economy? More government spending is the only effective way. Of course, they don't have a 16th Amendment. I sure hope they don't decide to quit buying the debt of other countries. Quote Share this post Link to post Share on other sites
billvon 3,118 #2 November 27, 2012 You know the GOP has lost their way when they advocate that the US adopt China's financial policies . . . What's next? Have our military take lessons from Hamas? Perhaps follow Uganda's lead on civil rights? Quote Share this post Link to post Share on other sites
Gravitymaster 0 #3 November 27, 2012 QuoteYou know the GOP has lost their way when they advocate that the US adopt China's financial policies . . . What's next? Have our military take lessons from Hamas? Perhaps follow Uganda's lead on civil rights? China has been moving to the right for quite some time. Unlike the US, they have figured out Communism doesn't work. Quote Share this post Link to post Share on other sites
headoverheels 334 #4 November 27, 2012 QuoteYou know the GOP has lost their way when they advocate that the US adopt China's financial policies . . . What's next? Have our military take lessons from Hamas? Perhaps follow Uganda's lead on civil rights? Next is to buy fighters and carriers from China. Quote Share this post Link to post Share on other sites
quade 4 #5 November 27, 2012 You're comparing Apple Pie to Dim Sum. China's tax structure is nothing like the US structure. To compare one to the other and only focus on a part of it is to not completely tell the truth of the matter.quade - The World's Most Boring Skydiver Quote Share this post Link to post Share on other sites
Gravitymaster 0 #6 November 27, 2012 The truth is that if a country wants to prosper, the government needs to get out of the way of business. Quote Share this post Link to post Share on other sites
kallend 2,148 #7 November 27, 2012 How big is China's deficit?... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Gravitymaster 0 #8 November 27, 2012 Quote How big is China's deficit? I don't know it exactly but I do know that China's economy has slowed considerably and they feel they need to do something to stimulate it. Why are they cutting taxes instead of raising them? Quote Share this post Link to post Share on other sites
kallend 2,148 #9 November 27, 2012 QuoteQuote How big is China's deficit? I don't know it exactly but I do know that China's economy has slowed considerably and they feel they need to do something to stimulate it. Why are they cutting taxes instead of raising them? Perhaps because they aren't worried about a public debt less than $1,000 per capita, or about 2% of the US debt per capita.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
rhaig 0 #10 November 28, 2012 QuoteYou know the GOP has lost their way when they advocate that the US adopt China's financial policies . . . what does it say when pravda publishes an article about the Obama administration repeating the economic policy mistakes of the former Soviet Union? (they use the word communist a bit, but that would be inflammatory)-- Rob Quote Share this post Link to post Share on other sites
DanG 1 #11 November 28, 2012 Quotewhat does it say when pravda publishes an article about the Obama administration repeating the economic policy mistakes of the former Soviet Union? Not much. - Dan G Quote Share this post Link to post Share on other sites
Gravitymaster 0 #12 November 28, 2012 All the more reason they should be raising taxes according to you lefties. Those damn Chinese aren't paying their fair share. Quote Share this post Link to post Share on other sites
kallend 2,148 #13 November 28, 2012 QuoteAll the more reason they should be raising taxes according to you lefties. Those damn Chinese aren't paying their fair share. Non sequitur and strawman all rolled into one. Your guy lost. Get over it.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
quade 4 #14 November 29, 2012 QuoteThe truth is that if a country wants to prosper, the government needs to get out of the way of business. Not a "truth." An unsupported hypothesis at best.quade - The World's Most Boring Skydiver Quote Share this post Link to post Share on other sites
kallend 2,148 #15 November 29, 2012 QuoteThe truth is that if a country wants to prosper, the government needs to get out of the way of business. Well, you can always emigrate to Somalia.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Gravitymaster 0 #16 November 29, 2012 Yes or no question (not that I think you will answer). If the government raises taxes, do you believe the money will be used to pay down the debt? Quote Share this post Link to post Share on other sites
Gravitymaster 0 #17 November 29, 2012 QuoteQuoteThe truth is that if a country wants to prosper, the government needs to get out of the way of business. Well, you can always emigrate to Somalia. Non-sequitur and a strawman rolled into one. Quote Share this post Link to post Share on other sites
kallend 2,148 #18 November 29, 2012 QuoteQuoteQuoteThe truth is that if a country wants to prosper, the government needs to get out of the way of business. Well, you can always emigrate to Somalia. Non-sequitur and a strawman rolled into one. Try a dictionary.... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
Gravitymaster 0 #19 November 29, 2012 QuoteQuoteQuoteQuoteThe truth is that if a country wants to prosper, the government needs to get out of the way of business. Well, you can always emigrate to Somalia. Non-sequitur and a strawman rolled into one. Try a dictionary. I did, it tasted like cardboard. Quote Share this post Link to post Share on other sites
quade 4 #20 November 29, 2012 QuoteYes or no question (not that I think you will answer). If the government raises taxes, do you believe the money will be used to pay down the debt? If you got a raise, would you use it to pay off your credit cards? It's difficult to say what each person would do in any given situation, but paying off your most expensive debts first is probably the smartest thing to do if you have come into some increased revenue.quade - The World's Most Boring Skydiver Quote Share this post Link to post Share on other sites
Gravitymaster 0 #21 November 29, 2012 QuoteQuoteYes or no question (not that I think you will answer). If the government raises taxes, do you believe the money will be used to pay down the debt? If you got a raise, would you use it to pay off your credit cards? It's difficult to say what each person would do in any given situation, but paying off your most expensive debts first is probably the smartest thing to do if you have come into some increased revenue. Same question to you. Do you think the government would use the money from a tax increase to pay down the debt? This question is at the core issue and Inthinkmthe main point of contention between liberals and conservatives. We have seen the government collect money for supposedly specific earmarks such as Social Secyurity, tobacco settlements etc. only to end up pissing it away on something else. Recently the State of Maryland had a referendum to allw Casinos. The touted purpose, as usual was to capture tax dollars that were going o neighboring States and use that money "for the children". The Comptroller for the State actually did a radio spot in which he told taxpayers that the money would not be used for educational purposes. The voters till voted yes on the bill. So, in some regards, we have Lucy holding the football and promising Charlie Brown that this time she means it, she won't pull the football away at the last second. Some of us have learned from the past that government will make any promises that influence the weak minded that this time the money will go to a stated purpose only to have the promise once again broken, and some of us have not. This, is the main reason for the resistance to tax increases. Particularly given the fact that we have not had a budget approved since Obama was elected. All the hazy promises without any specifics can not have a very positive outcome. So one more time: Do you honestly think the government would use an increase in tax revenue to pay down the debt? Quote Share this post Link to post Share on other sites
quade 4 #22 November 29, 2012 QuoteDo you honestly think the government would use an increase in tax revenue to pay down the debt? Yes. Can I state for a fact they will within a certain time period? No. Nobody can. They might increase taxes and some catastrophe might strike that would make it imprudent to do so immediately. That said, getting the US deficit and debt in check is the entire reason taxes need to be raised. How is that not obvious?quade - The World's Most Boring Skydiver Quote Share this post Link to post Share on other sites
Gravitymaster 0 #23 November 29, 2012 QuoteQuoteDo you honestly think the government would use an increase in tax revenue to pay down the debt? Yes. Can I state for a fact they will within a certain time period? No. Nobody can. They might increase taxes and some catastrophe might strike that would make it imprudent to do so immediately. That said, getting the US deficit and debt in check is the entire reason taxes need to be raised. How is that not obvious? I gave a few examples of government promising that money would be used for a specific purpose and then simply added to general revenue. Have we not learned the lesson of the "Social Security Lockbox"? Quote Share this post Link to post Share on other sites
