SURREAL ECONOMICS OR CONCRETE SCIENCE? Original Post It was the best of times, it was the worst of times, it was the age of wisdom, it wa...
Inspirational Wisdom Quotes
March 21, 2020
Television brought the brutality of war into the comfort of the living room. Vietnam was lost in the living rooms of America -- not on the battlefields of Vietnam.
Marshall McLuhan
THE TRUTH HURTS
SING ALONG FOLKS
Once again, China’s government failed to approve a property tax law, seen as a key part of reforming the real estate sector.
The 2022 National People’s Congress surprised many China observers – not because of what happened, but because of what did not happen. The Chinese government failed to approve a property tax. The Government Work Report did not even mention property market reform.
After the real estate sector’s structural crisis in 2021, reforming the property market seems inevitable, and implementing a property tax is the first step toward property market reform. In an essay in Qiushi, the official theoretical journal of the Chinese Communist Party, top leader Xi Jinping singled out a property tax as the flagship project for property market reform and vital to his “Common Prosperity” campaign. Following Xi’s essay, the National People’s Congress drafted and approved a decision to expand the property tax experiment. Minister of Finance Liu Kun declared that the Ministry must “prepare for property tax experiments.” As a result, an insider of the Chinese government predicted with confidence that the central government would launch property tax during the 2022 National People’s Congress.
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