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In China, there is no property tax either. HAHA. A lot of differences between US and China. 2% pay the income tax is because the income is really low, that is
by xmly 8y ago
In China, there is no property tax either. HAHA.
A lot of differences between US and China.
2% pay the income tax is because the income is really low, that is why the jobs are moving to China. The US is losing jobs only because US labors are paid too high.
In my opinion, it is just due to economical stage and structure. China's salary is rising, so a lot of jobs are moving to other countries, like Vietnam.
In the future, China government would more rely on income tax like US. But it would take another 15-20 years in my opinion.
- wjnc 8y agoIn my little country in Western Europe starting in World War 2 all those with income from labor have paid wage taxes. The first income tax was introduced in 1915. Before that in the 16th century: the first value added tax. Most revenue up until 1915 came from value added taxes and levies. That goes to show that (comparatively) low taxes is not a function of low income.
- xmly 8y agoSo there is so many tax genius: https://www.bankrate.com/finance/taxes/how-to-pay-no-federal-income-tax.aspx https://www.bankrate.com/finance/taxes/how-to-pay-no-federal...
- deleted 8y ago[deleted]