Why don't we model after Hong Kong?

[Golfer]

Hong Kong was an American set up with England, it is America politicians that is taking us away from real Capitalism.

[Jon]

They only recently established a poverty line. For decades the poor were simply ignored.
(I visited HK about 8x as a merchant mariner, saw plenty of po' peeps)

CNN 09-30-2013
About 1.3 million people, or 19.6%, of the population were deemed to be living below the poverty line in 2012,
according to the Hong Kong Povery Situation Report 2012 released on the weekend.

My guess is, you're reading a Chamber of Commerce brochure. GDP figures I've seen claimed 31 & 38k , not 51.

Should the US fed gov't confiscate all property and lease it back to businesses and individuals....?

WIKIPEDIA
They point out that there are still many ways in which the government is involved in the economy. The government has intervened to create economic institutions such as the Hong Kong Stock Market and has been involved in public works projects and social welfare spending.
All land in Hong Kong is owned by the government and leased to private users. By restricting the sale of land leases, the Hong Kong government keeps the price of land at what some would say are artificially high prices and this allows the government to support public spending with a low tax rate.