Jim Liu(@jiahanjimliu):Taxing the rich is much harder than it sounds. It takes an almost dictatorial government with far over-reaching capital controls to truly tax the rich. Democratic politicians that sell the “tax the rich” narrative are really just hitting the middle class. Scary concentration of power but kudos to the boldness of this experiment to be the first civilization to truly tax the rich. Over three thousand years of Chinese dynasty has had chancellors that wanted to tax the great families, none of them have pulled it off. Will Xi be the first?

2026.10.08 06:17

Taxing the rich is much harder than it sounds. It takes an almost dictatorial government with far over-reaching capital controls to truly tax the rich. Democratic politicians that sell the “tax the rich” narrative are really just hitting the middle class. Scary concentration of power but kudos to the boldness of this experiment to be the first civilization to truly tax the rich. Over three thousand years of Chinese dynasty has had chancellors that wanted to tax the great families, none of them have pulled it off. Will Xi be the first?

Doug Henwood@DougHenwood

2026.10.07 19:50

China does not fuck around: "Xi Jinping wants those who benefited the most from China’s economic ascent to increase their contributions back to the state, embarking on what could be the most ambitious global tax hunt in history."