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Even Commies have figured it out…

December 24, 2009

China reportedly to cut taxes in 2010 to help economy

While China’s State Administration of Taxation plans to raise the minimum income-tax threshold, it will also lower taxes on small and medium-sized enterprises, the reports said, citing an anonymously sourced account in the Chinese 21st Century Business Herald newspaper.

The tax authority also plans to lower taxes on the service industry and high-tech companies, the reports said.

In a related move, Chinese officials also plan to continue export-tax rebates in 2010, Dow Jones Newswires reported, citing a Ministry of Commerce statement.

(h/t)

-elsewhere-

Ann Althouse – Obama never intended to close Guantanamo

Why throw way $150 million — or $200 million — building another facility when these people are already safely and securely detained in Guantanamo? Symbolism? Too expensive! And also politically unpopular. I think Obama knew when he announced the Thomson plan that the Democrats in Congress would oppose him. He didn’t want the transfer to happen and he didn’t think it would happen. He has never intended to close Guantanamo. I was pretty sure of that last January. He has only intended to appease the folks who wanted him to and to make it possible to claim that he really tried.

Banks Bundled Bad Debt, Bet Against It and Won – Disturbing article in the NY Times. Essentially the article boils down to the banks creating funds they knew would fail then shorting against them so they could profit when they did. I reiterate my call for all MBAs to be horsewhipped and one in 10 shot (or better yet crucified). pour encourager les autres

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