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View Diary: Hong Kong: The not-so-free market darling of conservatives (HK port workers strike, win pay raise) (25 comments)

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  •  Yes (6+ / 0-)
    Recommended by:
    leema, MBNYC, MrJayTee, No Exit, Laconic Lib, caul

    The ways in with the HK system is appealing are due to:

    1) Low marginal taxes in general. The top income tax rate being 17% (last I checked), (even if it is technically "progressive" because it starts at 2% then 7% in increments so the wealthier are taxed more). They also don't tax capital gains or any sales/VAT (except for sin taxes)

    2) The suppression of democracy that serves the wealthy and offers cheap, marginalized workers to serve their "free market" system.

    But my point was more to show that there are countless aspects of the HK system which would not quite make it on the conservative Republican party platform :)

    FFS, the right-wingers call the ACA private insurance mandate "marxist" -- who knows what kind words they have for Hong Kong's actual universal healthcare system (not single payer, but two tier -- like New Zealand..)

    and Milton Friedman used to call the minimum wage "a racist policy" and all sorts of over things (Paul Ryan hates the minimum wage too as an apostle of Ayn Rand)

    Their delusion of the "free market" ideals seems to come mostly from HK's low taxation. But there are significant public expenditures and an oft-ignored safety net that would make the GOP vomit.

    Deficits don't matter, jobs do.

    by aguadito on Tue May 07, 2013 at 08:33:57 AM PDT

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