Anyone know how much income tax a newly minted millionaire or billionaire in Communist China pays vs one in the “capitalist” USA/California?
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Replying to @rabois
You can make whatever comparisons you want, but only in one can the government make you disappear for three months, then reappear with a public apology and $130M in fines. https://www.businessinsider.com.au/fan-bingbing-china-warning-shot-2018-10/amp …pic.twitter.com/kWxWYgu7kT
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Replying to @kimmaicutler @rabois
You’ll also have to tolerate a Chinese Communist party cell operating inside the management of your company, a revived and resurgent business practice these days:https://www.reuters.com/article/us-china-congress-companies/china-says-foreign-firms-welcome-benefits-from-internal-communist-party-cells-idUSKBN1CO0HQ …
2 replies 0 retweets 11 likes
But more generally, I’d say that California has a highly progressive and volatile income tax to compensate for a feudal and inheritable property tax structure. This is what the voters of this state chose.
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