By: MOS Fitness Team — Ashley
According to China’s official report on the implementation of the 2020 central and local budgets, and the draft 2021 central and local budgets, the Chinese government will spend 24.66 trillion yuan in 2020, or 24.33 percent of GDP. Looking back at historical data, Communist China’s macro tax burden has reached 25 percent since the 1980s, meaning that nearly a quarter of the wealth created by the people, is spent each year.
The level of tax burden in Communist China varies slightly due to changes in statistics. According to the analysis of the book “Light and Heavy – A Panoramic Perspective on China’s Tax Burden,” the macro tax burden of Communist China in 2017 was 28.9% on a large scale. In contrast, according to the International Monetary Fund, the macro tax burden reached 34.8% in 2016, taking into account land concession revenues.
The figures can be simply interpreted to mean that if three people in a household work, then the household has to “give” more than one person’s income from work to the CCP-ruled dictatorship, completely free of charge. The figures for 2021 have not yet been released, but according to the pattern in previous years, Communist China’s fiscal spending is rising every year, and the burden on the people is bound to increase.
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