A Hong Kong under siege has further meaning in the eyes of the world.
As one Canadian publisher described it, "Hong Kong keeps it very simple. There's no capital gains tax, there's no dividend tax, there's no tax on interest, and you are only taxed on income earned in Hong Kong - not overseas. The system here makes people more entrepreneurial. Maximum personal tax is 15%, but there are lots of allowances to get it lower, and corporate tax is set at 16.5% - so people are not spending half their time trying to avoid or evade. You have money in your pocket and you do things with it. You invest. You buy shares or you start second businesses."
Even though the neighboring city of Shenzhen, mainland China's "Silicon Valley," population more than 12.5 million, has overtaken Hong Kong, population fewer than 7.5 million, in GDP, "Per capita GDP in Hong Kong in 2018 was HK$381,870, equal to around 322,000 yuan according to the annual average exchange rate, which was well above Shenzhen's 200,000 yuan." That's over 60% more in the place where the rich - and everyone else - pay a pittance in taxes.
Even those living in free countries where government is too big, taxes are oppressive, and economic activities are policed by heavy-handed regulation, share a bond with Hong Kong in cherishing what economic liberty they do have.
President Trump on Thursday urged China's President Xi Jinping to negotiate an agreement with Hong Kong.
"If President Xi would meet directly and personally with the protesters," Trump tweeted, "There would be a happy and enlightened ending to the Hong Kong problem. I have no doubt!".
If Xi chooses force instead, the 45th president would do well to echo the sentiments of the 35th president and declare: "All free men, wherever they may live, are citizens of Hong Kong.".
https://issuesinsights.com/2019/08/19/all-free-men-are-citizens-of-hong-kong/
As one Canadian publisher described it, "Hong Kong keeps it very simple. There's no capital gains tax, there's no dividend tax, there's no tax on interest, and you are only taxed on income earned in Hong Kong - not overseas. The system here makes people more entrepreneurial. Maximum personal tax is 15%, but there are lots of allowances to get it lower, and corporate tax is set at 16.5% - so people are not spending half their time trying to avoid or evade. You have money in your pocket and you do things with it. You invest. You buy shares or you start second businesses."
Even though the neighboring city of Shenzhen, mainland China's "Silicon Valley," population more than 12.5 million, has overtaken Hong Kong, population fewer than 7.5 million, in GDP, "Per capita GDP in Hong Kong in 2018 was HK$381,870, equal to around 322,000 yuan according to the annual average exchange rate, which was well above Shenzhen's 200,000 yuan." That's over 60% more in the place where the rich - and everyone else - pay a pittance in taxes.
Even those living in free countries where government is too big, taxes are oppressive, and economic activities are policed by heavy-handed regulation, share a bond with Hong Kong in cherishing what economic liberty they do have.
President Trump on Thursday urged China's President Xi Jinping to negotiate an agreement with Hong Kong.
"If President Xi would meet directly and personally with the protesters," Trump tweeted, "There would be a happy and enlightened ending to the Hong Kong problem. I have no doubt!".
If Xi chooses force instead, the 45th president would do well to echo the sentiments of the 35th president and declare: "All free men, wherever they may live, are citizens of Hong Kong.".
https://issuesinsights.com/2019/08/19/all-free-men-are-citizens-of-hong-kong/
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