Ironies abound in the story of how China is considering a “U.S. style annual tax” based on home values. The driving motivation: raise revenue for local government and dampen the growing real estate bubble arising from speculative demand. Yes, taxes do that. But property taxes didn’t prevent the U.S. bubble, and the dependence of local government on the the revenue stream has led to a draining away from government revenue since the bubble popped.
What will these commies think of next? U.S.-style regulation on toilet-tank size? U.S-style limits on using cash? U.S.-style bailouts of failing industries?
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Bad ideas are as popular with the Chinese ruling elite as they are with our own. For sure, whatever glimmer of hope burst forth recently in China will soon be blacked out by the misguided rulers. It’s a given. My dad got to see Europe in 1913, and I hope I get to see China in 2010, before it all goes to heck in a handbasket.
You guys still don’t actually want to live in China. For one, you probably don’t speak Mandarin nor look Chinese. For two, forget about your right to free speech, to protest, etc… and look forward to dealing with local power officials and corruption, breathing dirty air and drinking dirty water, and toilets? Sure, if you like squatting!
I do find it interesting about the property tax, but isn’t it also the case that one does not truly “own” property in China but merely “leases” it?
Getting more private judging by this?
“In March 2007, the People’s Republic of China passed its first modern private property law.[5][6] The law prohibits government taking of land, except when it is in the public interest. The law strengthened the position of nail house owners, but did not entirely resolve whether making room for private commercial developments was a public interest that entitled the taking of land.”
source: http://en.wikipedia.org/wiki/Nail_house
China is still developing, we had dirty air many years ago too. But economic progress, prosperity , and innovation will make a healthier environment. Why， because the wealthier people are the more they are able to afford cleaning their environment. The U.S.’s economy is more than twice that of China’s, and yet we have much cleaner air and water. Secondly, it’s not because of the environmental legislation. The trend in clean air and water has been around since the 1960s. You must ask yourself this, what kind of economy and environment would you have with the legislation and no economic progress? The only reason we could have tolerated those Acts was because we were becoming richer. Just wait and see, in twenty years time China will have a very clean environment.
On another note, what’s wrong with living in China? Of course, every place has its downsides. You don’t need to look Chinese to have good life in China.
I am astounded at the revelation that China has no annual property taxation. Although I have no plans to ever move to China (save for maybe Hong Kong,) I admit this makes me jealous.
I had the opportunity to spend a week in China early in 2007 for work. Certainly an eye opening experience and one that has on several occasions left me wondering the same thing Cybertarian is asking… are we less free than even the folks over in “communist” China?
The only answer I can give is the completely unsatisfactory “it depends”. As far as civil liberties, there’s no doubt, America is still far superior. But in terms of Economic freedom the situation is completely reversed. I don’t know what their tax rates are, but from all I know it really does not matter as all businesses in China keep two sets of books, one for tracking the performance of their business, and a second to show the tax collector when he shows up. Anyone can start a business in China (and many many people do). There is a vitality and bustle to the place that is mind boggling. And that doesn’t change when you drive out of the city and into the countryside with it’s never ending agriculture.
Then there is Hong Kong… which is a magnificent city, It’s a place anyone who appreciates what freedom and a free market can do should jump at the chance to see first hand.
“Getting more private judging by this?
‘In March 2007, the People’s Republic of China passed its first modern private property law.[5][6] The law prohibits government taking of land, except when it is in the public interest.’”
Well as long as they can only take your property if it’s in the “public interest.” That’s a relief.
Wait, doesn’t government always say that anything it ever does is in the “public interest?” lol
That is no protection at all.
i live in china in one of those up and coming boomtowns. two years ago we had dirt roads and horsecarts. now there is pavement, porsches and police cameras. lotsa police cameras.
fascinating place indeed. lotsa cameras but virtually no cops on the roads. what does this result? many drivers either neglect to use license plates or they have multiple plates depending upon the situation. very wild west here. opportunity abounds, but nothing happens without bribes (which some folks call “guanxi”). either way, they drive like mad men.
am i more free in china than the US?. yes. say whatever you want. nobody cares. as mentioned above, the cops here have a soft presence. i don’t get the “scare” here that cops backhome work so hard to emit.
If you think you own property in the US, just stop paying the government for the “privilege” of owning it.
Re: kevin.
In China you bribe government officials to get what you want. In the US you pay lawyers obscene amounts of money and huge government fees to (maybe) get what you want. The first option seems more opaque, and more honest.
Cybertarian, what is your point? So we all move to Hong Kong? It’s tiny compared to the rest of China.
Do they also participate to the gendricide in HongKong? or does government 1-child policy favor people returning to the mainland, in order to kill another generation of baby girls? Don’t you think that sort of “economic freedom” is a bit overrated considering the rest of the bloodthirsty slavery going on in China since the mid 70ies?
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