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Do you think the government should go ahead with its plan to raise the consumption tax from the current 8% to 10% in April of 2017?

23 Comments

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23 Comments
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Hell no. People are going hungry already.

5 ( +7 / -2 )

Yes, why? because govt always does opposite to public says.

-1 ( +3 / -4 )

It's a nonsense tax that will probably cost as much as it generates just to implement.

6 ( +7 / -1 )

Yes! Let's REALLY crash this economy! Bring it!!!

7 ( +9 / -2 )

Definitely no. The government's current push for both austerity and stimulus at the same time is absurd — a ridiculous "left hand doesn't know what the right hand is doing" scenario.

Austerity in the form of a sales tax hike obviously dampens spending, which pulls in the complete opposite direction of stimulus in the form of the BOJ/GOJ's monetary easing and fiscal spending efforts to break out of deflation.

Stimulus (not austerity) is what is needed now, so I would even go so far as to say the government should REDUCE the sales tax. That kind of surprise move would stoke spending and fuel some inflation.

6 ( +8 / -2 )

If they change the tax on food, medicine, school books/outfits, baby needs, day care etc. etc. to ZERO Percent, then sure.

8 ( +8 / -0 )

Yes. Consumers will be forced to think twice before buying goods, which is good.

This will minimize massive wastage which is so ignored in many of the first world countries. Unfortunately, Japan is in this league.

0 ( +1 / -1 )

Hell no for the sake of economic recovery. The damage the previous one did is more than obvious from any of the charts. The cabinet is already hinting at not moving forward with it, and its just the min of finance that's still strongly pushing for it.

I'm surprised not more Abe haters of JT aren't polling for yes, it would definitely mean demise for his government and Abenomics, while a postponement/call of would mean prolonged life.

3 ( +3 / -0 )

Though it will cost the economy more in lost economic activity and decreased consumption than it will generate in revenue, it gives the politicians the excuse to spend trillions of our yen on "stimulus" projects, with ample kickbacks, bags of money, amakudari jobs left over for themselves. So of course the tax hike will go ahead.

2 ( +5 / -3 )

All taxes are a drag on growth and create economic distortions. But a broad-based sales tax is probably the least distorting.

3 ( +3 / -0 )

Sure bring it on...IF you want an official DEPRESSION...

4 ( +4 / -0 )

@garfield1275 I really don't want to think twice about buying food and necessities. The luxury stuff is just a memory now.

4 ( +4 / -0 )

I don't know, what do you think?

2 ( +2 / -0 )

Of course not. I'd like to see evidence of where and how the government has succeeded in reducing waste of tax income. First things first.

3 ( +3 / -0 )

Sure; bring the yen back to 80-90 to the dollar and make it possible for retailers to cut prices by more than the 10% or so that they have increased under Abenomics, which has sharply reduced demand. Then watch as demand surges and people start buying again -- every store owner since the beginning of civilization has understood that lower prices brings customer in, and higher prices send them away. With the lower pre-2012 prices, we could handle paying another 2% in tax.

But we all know what is actually going to happen. This next price increase will be on top of what we have already endured; there will be a fresh round of psy-ops convincing people to think that rising prices is a good thing; Kuroda will devalue the yen even more, causing prices to jump still further; Abe will extend the hamfisted law that forbade retailers from lowering their prices to offset the tax increase.

Japan Inc. will win and the people will lose.

Again.

3 ( +3 / -0 )

No, I think lawmakers and minister salaries should be the same amount. So a reduction of ministers salaries should net them about the same amount as the consumption tax hike. By the way your average lawmakers salary is 1,3 million Yen a month.

3 ( +4 / -1 )

NO.

1 ( +2 / -1 )

Should not. It will backfire.

1 ( +2 / -1 )

Sure, one more reason for me to leave...

3 ( +3 / -0 )

I heard eligibility for old age pension after 10 years of contribution is coming along with The tax rate hike to 10%, If that's true then YES!!

0 ( +0 / -0 )

A stop-gap solution for a government whose spending habits are killing the country. Absolute lunacy. I won't be staying in Japan much longer as a result.

1 ( +1 / -0 )

It'll cause even more deflation! Ten years ago, I realized the hideous future to come, I parked my savings abroad and grew it by the same amount! Japan is like the Titanic.....slowly and surely down it goes sans the musical accompaniment

0 ( +1 / -1 )

I second what shonanbb said.

0 ( +0 / -0 )

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