In an effort to continue to stoke the class warfare that has become their brand, Obama administration folks (and yes, the President himself) have begun to point at the Chinese bogeyman to justify raising the taxes on successful Americans. Here's David Axelrod:
"The notion that we borrow $700 billion for the next ten years from China or some other country in order to pay for tax cuts for millionaires and billionaires doesn't make sense. This is part of how we got in trouble in the first place," Axelrod said on CNN's "State of the Union."
Ok, so let's get this straight; in the midst of an economic downturn the President and his homeys want to raise taxes on "2 percent" of Americans, while leaving the Bush Tax Rates in place for the other 98% of taxpayers. They cry "CHINA" and "$700B" as justification. But one wonders--where will the $2 TRILLION come from to "pay for" the revenue lost in not raising taxes for the other 98%. Um.....China!