The new
US tax act could be
China‘s latest weapon against corruption, according to many Chinese netizens.
A single blog post – entitled America joins China’s anti-corruption campaign – was reposted almost 25,000 times on
Sina Weibo,
China’s version of Twitter. Netizens excitedly discussed the
consequences for corrupt Chinese officials with families holding U.S.
green cards.
The post began: “the US is taxing nationals or green-card holders on their assets around the world.”
It continued, “handsome rewards will be given to those who report on the family assets of green-card holding Chinese officials.”
“The US welcome information from Chinese nationals – US Treasury will
pay informants 15-30 per cent of tax revenue and keep their identities
confidential.”
The post ended with a telephone hotline for the US Internal Revenue Service Office in
Beijing.
The speculation stemmed from last month’s adjustments to the Foreign Account Tax Compliance Act (FATCA), an effort by the
US Department of Treasury to curtail tax evasion through the avenues of foreign
financial assets and offshore accounts.
Under FATCA rules, US taxpayers – including green-card holders – with
specified financial assets that exceed certain thresholds must report
to the
Internal Revenue Service (IRS).
Financial institutions in partnership countries must also identify
and classify all clients. It is still an ongoing process due to the
complex classification system.
In addition, the IRS Whistleblower Office pays informants up to 30
per cent of the additional tax collected with information on FATCA
violations.
While the rules are supposed to target US citizens, they become the headache of many wealthy
mainland Chinese who hold an American passport. More of them are thinking about renouncing their US citizenship.
Many netizens enthusiastically replied with positive comments. “Such a
clever act! America will gain fame and fortune by this,” one said.
“The globalisation of anti-corruption,” wrote another.
A third said: “Corrupt Chinese officials will certainly choose to pay
money to the US Treasury, rather than to pay their lives by staying in
China.”
Source: SCMP – “Netizens applaud US taxation plans amid concerns about corruption in China”
Author of the book "Tiananmen's Tremendous Achievements" about how
talented scholars with moral integrity seized power in the Party and
state and brought prosperity to China.
Doing Justice to Tiananmen Protests
While America has had justice done by killing Osama bin Laden, justice
has not yet been done to Tiananmen Protests in China.
In order to do justice to that great event in Chinese history, the
author wrote this book to reveal Tiananmen's great achievments.
A Revealing Book on Intellectuals' Coup that Has Brought China
Prosperity
With the help of the pervasive fear given rise by Tiananmen Protests
throughout the Party, talented Chinese intellectuals have accomplished a
coup to take control of the Party and state and are thus able to bring
prosperity to China.
Being ignorant of that coup, people outside China are puzzled how a
communist autocracy is able to make such tremendous achievements.
A Book that Refutes Tiananmen Butcher's Justification of the Massacre
As even people inside China are not aware of that silent peaceful coup,
Li Peng, the notorious Tiananmen butcher, tries to argue that China's
prosperity years after Tiananmen justifies the massacre.
The author points out that before Tiananmen the Party had a track record
of bringing disasters to China for two decades and though Deng
Xiaoping's reform began to bring prosperity, there were insurmountable
obstacles to the reform.
A Book on Tiananmen's Contribution in Overcoming Insurmountable
Obstacles to the Reform
China' prosperity now has been brought about by the reform capitalist in
nature, which Li Peng and the vast number of conservatives from top to
the bottom in the Party fiercely opposed. They had brought down Hu
Yaobang and were trying hard and almost succeeded in bringing down Zhao
Ziyang before Tiananmen Protests in order to put an end to the reform.
It was Tiananmen that enabled Jiang Zemin who was able to carry on the
reform to rise to the top and it was the pervasive fear of collapse
given rise by Tiananmen that helped Jiang and his Shanghai faction of
talented intellectuals to succeed in their coup to substitute
intellectuals' dominance for workers' and peasants' dominance and thus
overcome the insurmountable obstacles.
A Book on How Intellectuals Wanted to Fight Back during the Cultural
Revolution
Emergence of a new generation of talented intellectuals with moral
integrity;
Their secret meeting in preparation for seizing power;
Renaissance of Confucianism;
Intellectuals having been persecuted were hardened and united and
anxious to fight back.
A Book with Lots of Interesting True Stories on China' History,
Especially its Darkest Era
The author tells interesting stories on the following, which, though
interesting, are what have really happened as he wants it to be a book
of history instead of a fiction:
Illicit prostitution and rampant crimes due to serious unemployment;
Rusticated youth's successful hunger strike for going home 1978-79;
Secret society of peddlers;
Youngsters becoming thieves, robbers, gangsters;
A scholarly gangster leader;
Scholars' revenge by whipping a king's corpse and assassinating an
emperor, etc.
A Book on China's Route to Democracy
Quite a few people are disappointed that there has been no campaign for
democracy of a substantial scale in China since the massacre. The
author, however, points out China's traditional Mencius democracy is
being established and may absorb the advanced factors in Western
democracy.
The new US tax act could be China‘s latest weapon against corruption, according to many Chinese netizens.
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