China's Tax Reform Proposal Boosts Economic Growth and Income Equality.
The article discusses a proposal to reform China's personal income tax by shifting some of the tax burden from businesses to consumers. By increasing employee wages and adjusting corporate taxes, the reform aims to maintain household income levels while boosting economic growth and income equality. Using a specialized model, the researchers found that this tax reform could lead to significant improvements in economic growth, income equality, savings, investment, and government tax revenue.