As I sit here at 5:18 AM in the morning in Shenzhen, China (I live half my life in China), waiting for a telecon with a US client in a few minutes, I thought I'd reflect on your statement vis-a-vis "Communist China" and "capitalist America":
- In "Communist China", unemployment insurance is unheard of. You lose your job? Tough - no money for you at all, go get a job. In "capitalist America", we're considering extending unemployment benefits to two YEARS.
- In "Communist China", there isn't socialized medicine. If you don't have cash-up-front, you don't get help. Broken arm, no money? The hospital will give you a phone to call a friend or family member to come down and pay before your bone is set. In "capitalist America" you get service whether you can pay or not, and we're going to extend that to routine checkups.
- In "Communist China", there aren't food stamps. No money, no job? You starve. In "capitalist America" we give food away without proof-of-need.
- In "Communist China", no money for a house? You live on the street or find a friend or relative to take you in. Government will not give you a house or a place to live. In "capitalist America" we give massive subsidies not only for apartments but for purchase of houses, without proof-of-need required.
- In "Communist China" there aren't any jobs guaranteed. The entire country is "at will" employment, no unions, no Government "make work" programs. In "capitalist America" we allow unions to protect the dimmest and the worst from losing their job, and will hire more-and-more into Government payrolls.
- In "Communist China", the Government will give you fair market value for any property condemned via eminent domain. You get to have real estate agents offer the value, and the Government pays that value. In "capitalist America" the Government will set its own value and you either accept or lose everything.
- In "Communist China", you can pass on every last cent you had when you died. No estate tax. In "capitalist America" we not only take 55% of everything beyond $1 million, we're looking to take 55% of EVERYTHING once you die.
- In "Communist China", the Government does not tax a single dollar that is earned outside of China. You make your money overseas? No taxes. In "capitalist America" the IRS wants "its fair share" of every dollar you make regardless of locale or even if you paid taxes in a foreign country.
Seems to me that - on the face of it - "capitalist China" is a lot less socialist than "Communist America", and the trend is NOT getting better...
You forgot another one:
In “Communist China” there are NO capital Gains taxes.
Wow. That deserves to be passed on as a chain email.
Does the Chinese govt. protect human rights?
Not arguing. Just curious.
Well stated!