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Thursday, February 28, 2008

Taxes and property rights

Yesterday I came across this article on tax cuts in communist controlled Hong Kong. Seems that there is a budget surplus in Hong Kong. Now, here in America the Congress spends the surplus, as does the Minnesota Legislature and then that spending becomes the new budget low level spending limit. Go below that line and the lefty pukes warn that senior citizens will eat dog food while living in a snow bank, babies will starve while they have no diapers and puppies will burst into flames. But, in Communist Hong Kong they cut taxes when they have a surplus. Get this: personal salary taxes (income taxes) were only cut 1%- from 16% to 15%. A 15% income tax! In a communist area. And corporate income taxes were also cut 1%: 17.5% to 16.5%. Most of us here in America would kill to have tax rates like that.
Today,to further point out how far behind we truly are here in America, the IPRI (International Property Rights Index) was posted. It is an exhaustive survey of how property rights are ensured and protected worldwide.
The good news: the United States is in the top 20% of countries worldwide that protect property rights. The bad news: we rank at number 19. Behind Finland, Ireland,even Canada! And of course, Hong Kong.
I remember a scene with Russel Crowe in "Gladiator". As he is going to appear in the Colosseum to fight , he hears the roar of the crowd. Thinking of Marcus Aurelius' command to re-establish the republic, Maximus turns to Proximo and says "Marcus Aurelius had a dream that was Rome, Proximo . This is not it. This is not it! "
And so it would be if our Founding Fathers came back to see what we've done to their dream.


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