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2023年2月2日发(作者：八年级英语上册教案)l People's Congress that is meeting this month prents an opportunity to take immediate and meaningful action. This must lead to a shift in income to houholds away from the state.



China's current economic structure results from the government's relentless efforts to mobilize resources for investment. Tens of millions of Chine have graduated from college in the past decade. It should have led to a robust middle class - the foundation for social stability. Instead, they are taxed heavily and are deprived of any dream of economic curity. The top marginal income tax rate is 45 per cent. On average, a property now costs 20 times annual income. We all know that property is a revenue earner for the government; high property prices are a form of tax.



On top of the high income tax and property prices, inflation is decreasing the value of people's savings in banks. And inflation, of cour, is a "tax" that takes money from the savers to the debtors. In this ca, the state ctor is the debtor.



Chine people are being pushed to the edge. No matter how hard they work, their money ends up in the government's pocket. Social stability is already at risk. The oil shock may tip it over. Government officials should stop talking about change and start taking action. And it is easy to do: just give money to the people.



First, China should reduce the top personal income tax rate to 25 per cent, the same as for companies. A high tax rate usually redistributes income from the rich to the poor, but not in China. Rich people can t up companies and spend money for personal purpos out of company expens. Instead, the high tax rate weighs down white-collar workers, robbing them of the chance to become solidly middle class. The high tax rate is pushing China towards a small super-rich class and a vast underclass.



Second, China should increa interest rates quickly to protect the value of people's savings. A negative interest rate is robbery. Two hundred million migrant workers have worked very hard for very little over the past decade. They have saved money for their children's education. Letting inflation erode their savings is unconscionable. The discussion on interest rate policy should not rest on technical terms; thought must first be given to the 200 million people.



Third, property should be forever taken off as a speculative ast. Local governments have become dependent on revenue from the property ctor. They have behaved like property agents in fanning the speculative fever. The government should introduce a 90 per cent capital gains tax on property transactions. The property market is cooling a little now becau of monetary tightening that targets inflation. But, this is a cyclical phenomenon. The market will become speculative again. Property speculation is perhaps the biggest threat to China's stability. The central government should introduce a policy to remove this risk.



To keep them affordable, housing prices per