According to the Heritage foundation’s 2011 survey of economic freedom, the Communist Chinese government spends less as a percentage of GDP than the American government does.
China clocks in at 20.8% of GDP spending, with the American government spending 38.9% of GDP.
China’s individual tax rates are at 45% and corporate are at 25%, while America’s tax rates are at 35% and 35%
No real difference in tax rates, but there is a huge difference in spending rates.
While China ranks well below the US on the “economic freedom” scale, I don’t see why this should be so. The Chicoms are certainly totalitarian when it comes to social freedoms, but they are apparently MORE capitalistic than the US when it comes to the economy.
The Chinese people are being suckered by their banking establishment which is artifically suppressing rates, buying up US treasuries, and keeping their currency artificially suppressed, but assuming the US blows up, that will all go away.
It is interesting to think about which government is more evil, the US or the Chinese.