“In the coming years, Xi Jinping will come under pressure to do something he’s never done before: oversee nationwide tax increases that could alienate China’s wealthy and its middle class,” Bloomberg reports.
“The Chinese leader has presided over the largest tax cuts in the country’s history. Tax revenue equaled 21% of gross domestic product in 2021, compared with about 27% in the US. Less than 10% of China’s population pays any income tax at all.”
Save to Favorites
Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.
Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.
Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.
Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.
Goddard is the owner of Goddard Media LLC.