Hong Kong Capitalist haven?

[alfred russel]

So HK has all these socialistic features and yet still is a fabulously successful economy.

Hmm . . .

Basically HK has a lot of socialist features, a balanced budget, and a tax rate on the wealthiest of 15%. It seems all you have to do to have massive government programs with low taxes and a successful economy is become a one city state, and have that city be a leading world financial center.

[DGuller]

So HK has all these socialistic features and yet still is a fabulously successful economy.

Hmm . . .

Basically HK has a lot of socialist features, a balanced budget, and a tax rate on the wealthiest of 15%. It seems all you have to do to have massive government programs with low taxes and a successful economy is become a one city state, and have that city be a leading world financial center.

And not be New York City.

[alfred russel]

And not be New York City.

NYC would be doing incredible as a one city state: imagine if it got to collect all the income taxes and corporate taxes within its borders. It could halve the tax rates and have more money than it knows what to do with.

[Monoriu]

NYC would be doing incredible as a one city state: imagine if it got to collect all the income taxes and corporate taxes within its borders. It could halve the tax rates and have more money than it knows what to do with.

And if it does not need to contribute toward the national budget.  Hong Kong pays nothing toward national defence or foreign aid.

[saskganesh]

NYC would be doing incredible as a one city state: imagine if it got to collect all the income taxes and corporate taxes within its borders. It could halve the tax rates and have more money than it knows what to do with.

And if it does not need to contribute toward the national budget.  Hong Kong pays nothing toward national defence

[Monoriu]

It is one of the selling points of Beijing.  When Hong Kong was under British rule, London put a lot of ships and men here.  We had to pay two thirds of their upkeep, and the British garrison would occasionally get into trouble (mostly pub fights). 

After the handover, Beijing cuts the size of the garrison, confines most PLA troops to barracks, and says we don't have to pay any upkeep at all.  The troops only leave baracks to plant trees and parade. 

[PDH]

And roll tanks over protesters.