FreedomTalks

China Daily is reporting that the Communist government has decided not to impose a death tax. The article also mentions that Hong Kong recently voted to get rid of its death tax early next year. This will surely strengthen Hong Kong’s status as the most economically free country in the world, as determined by both the 2005 Index of Economic Freedom and the Economic Freedom of the World: 2005 Annual report.

Here in the US, the death tax is being phased out until it is abolished in 2010…but due to strange budget rules, it will come back in full force in 2011. The US House has repeatedly voted to permanently repeal the death tax, but it remains stuck in the Senate.

In the meantime, the death tax will die in Russia, where they also have a flat tax, on January 1, 2006.

This entry was posted on Friday, November 18th, 2005 at 12:37 pm and is filed under Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.