Two Views of the New Tax Bill
In the last two weeks, CCTV9
, China Central Television's English-language service, was added to my basic Dish Network package and I've watched it a good bit lately to get a feel for it. I was surprised when their news program told me more about the corporate tax bill President Bush signed into law this week than I've heard from American channels, so I looked it up and, sure enough, Reuters (the source used for CNBC's news page) is characterizing
it as a giveaway for special interests and the CCTV report, which basically was read from the Xinhua story
, actually does a better job of detailing what the bill seeks to accomplish, going so far as to say that the bill "is the most sweeping rewrite of US corporate tax law in two decades," even using the term "tax relief." Parts of the bill might be seen subjectively by some as special interest benefits, such as the tobacco quota buyout, but the Chinese report makes no such judgement.
Something is wrong when government-controlled news from communist China appears more objective than Western sources.