The Policy Research Of China’s Individual Housing Property Tax From The Angle Of Reducing The Social Wealth Gap

Since China adopted reform and opening-up policy three decades ago, thecountry’s economy has grown fast and people’s livehoods have been raiseddramatically. But in the meanwhile, the income gap has been widening andthe Gini Coefficient, which measures the balances of wealth distribution amongthe public, has reached the international warning level. It’s a serious issue thatdeserves the attention from the whole society, because it will not only curbpeople’s enthusiasm in working and harm the economy’s healthy development,but also will affect the building of a harmonious society. Therefore, it’s hightime to reduce the income gap and adjust the income distribution.According to the experiences of foreign countries, individual housingproperty tax can play an important and irreplaceable role in reducing thesociety’s wealth gap and adjusting the income distribution. This article, aimingto reduce the society’s wealth gap and improve the society’s income distribution,analyses the reason behind China’s wealth gap and the impact brought by thelarge wealth gap. Based on the country’s pilot programs on individual housingproperty tax and foreign countries’ experiences, the article provides policy proposals on how to use the individual housing property tax to reduce the wealthimbalanced distribution. The article is highly practicable in terms of helpingthe government reduce the wealth gap and upholding fairness and justice inthe society.This article includes six chapters. The first chapter is the introduction of thewhole article and it introduces the background, goal, significance of this study,the progress of concerning researches in both home and abroad, as well as theangle, method, breakthrough and shortcomings of this article. The secondchapter defines the objects being studied in this article and analyses the currentsituation of China’s wealth gap. The third chapter explains the significance androle of the individual housing property tax in decreasing the society’s wealthimbalance, and also introduces the mechanism of how the individual housingproperty tax adjusts income distribution gap. The fourth chapter focuses thehistory of China’s individual housing property tax as well as compares the pilotprograms carried out in Shanghai and Chongqing. The fifth chapter summarizesthe practices in other countries. The last chapter raises policy proposals inbettering individual housing property tax, such as the goal, principles,implementation rules and supporting rules.