The Man Behind the Hong Kong MiracleThe Freeman
Feb. 11, 2014
1.Miami Police Retaliate Against Female Driver Who Filmed Herself Pulling Over Cop
2.Paul Joseph Watson And Stefan Molyneux On The Real Agenda Behind The Migrant Crisis
3.Hillary Clinton Suggests She Can't Be Part Of The Establishment Because She Is A Woman
4.Texas Appeals Court Slams Forced DUI Blood Draw
5.Making InformationLiberation Great Again!
6.'Multicultural Toilets' For 'Global Defecation' Seek to Stop Migrants Pooping On The Floor
7.Code 291: Swedish Police Cover-Up Thousands of Crimes Involving "Refugees"
8.Retired Cop Gets Taste Of Police State After Officers Bust In, Assault Him
9.NYPD Cop Wins $15m After Fellow Cops Falsely Arrested & Beat Him At His Daughter's Birthday
10.Crewe Residents Accuse Police and School of Covering Up Abuse, Rape Threats by Migrant Kids
Three cheers for Hong Kong, that tiny chunk of Southeast Asian rock. For the twentieth consecutive year, the Index of Economic Freedom—compiled by The Wall Street Journal and the Heritage Foundation—ranks Hong Kong (HK) as the freest economy in the world.
Though part of mainland China since the British ceded it in 1997, HK is governed locally on a daily basis. So far, the Chinese have remained reasonably faithful to their promise to leave the HK economy alone. What makes it so free is music to the ears of everyone who loves liberty: Relatively little corruption. An efficient and independent judiciary. Respect for the rule of law and property rights. An uncomplicated tax system with low rates on both individuals and business and an overall tax burden that’s a mere 14 percent of GDP (half the U.S. rate). No taxes on capital gains or interest income or even on earnings from outside of HK. No sales tax or VAT either. A very light regulatory touch. No government budget deficit and almost nonexistent public debt. Oh, and don’t forget its average tariff rate of near zero. That’s right—zero!