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HK raises practically all of its revenue from land and (until China started screwing it up) it was one of the richest, most developed places on Earth.
by aianus 7y ago
HK raises practically all of its revenue from land and (until China started screwing it up) it was one of the richest, most developed places on Earth.
- boomboomsubban 7y ago>HK raises practically all of its revenue from land I don't know what you mean. Hong Kong is a trading port, and any wealth it "creates" is done by refining imported materials. This option is only available someplace lots of trade naturally occurs, like Hong Kong's river basin.
- aianus 7y agoI mean the government raises its tax revenue almost exclusively by leasing land and taxing real estate transactions instead of taxing income like we do in the West.
- boomboomsubban 7y agoThis system isn't very exportable, I can't imagine the nationalization of land being a popular move no matter how low you promised to make income tax.
- woofcat 7y agoOkay and? My point is that to collect property tax it's easier for the Government and Income tax is harder for the Government. It requires more reporting... It has nothing to do with the value extracted.
- aianus 7y agoMy point is you don't need income tax at all to maintain a developed society as demonstrated in HK, Washington State, etc.