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Economy

Supply-Side Economics, Chinese-Style

Op-Ed: The latest Chinese government plan to tax the rich to bridge the income divide will have the opposite effect. In China -- perhaps even more than the West -- markets must be free, taxes low and Leviathan reigned in to increase and share wealth acros

Rollsing in dough (Cory Doctorow)
Rollsing in dough (Cory Doctorow)

BEIJING – In his report this week to the Chinese National Congress, China's Prime Minister Wen Jiabao laid out the government's new plan to raise taxes on high-income earners as a way to solve the problem of wealth disparity.

"Narrowing the gap between the rich and poor" and "common prosperity" have always been obsessive economic slogans of the Chinese regime. China's personal income tax system is indeed progressive, with rates applied so that the more one earns the more tax one pays. China's current top marginal tax rate is at 45%, comparable with some Western European countries.

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Two Ukrainian soldiers at a military base on the outskirts of the separatist region of Donetsk

Lisa Berdet, Lila Paulou, Anne-Sophie Goninet and Bertrand Hauger

👋 Halito!*

Welcome to Wednesday, where the first war crimes trial against a Russian soldier since Moscow’s invasion of Ukraine gets underway in Kyiv, Kim Jong-un slams North Korean officials’ response to the coronavirus outbreak and Mexico’s National Registry of Missing People reaches a grim milestone. Meanwhile, Ukrainian news outlet Livy Bereg looks at the rise of ethnic separatism across Russia’s federal regions.

[*Choctaw, Native American]

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