Japan begins ¥40,000 tax cut to help inflation-hit households

Thst taxes cut should be at least 3 times per year, every year, considering the galopant inflation and specially Yen crash.

The population is doing harder and harder with each passing year.

This is not a tax cut.

It’s another handout.

If the government would slash spending by 50 trillion yen and reduce some tax rates, that’s what I’d call a tax cut.

Reduce the consumption tax to 3-5 % then ya talking!

LDP bribes won't work !!

dan

Reduce the consumption tax to 3-5 % then ya talking!

At the very least, remove the sales tax altogether from groceries.

wow, that’s one small coffee at 7-11 per day.

And the headline in the news story right above this one is "Prices for 614 food, drink items to be hiked in June"

So the money goes out of the left pocket of the government and into the right side one. Well done Kashida! Your the man!

Almost enough to buy a bottle of olive oil.

"We will create an environment in which income growth will outpace inflation and end the deflationary mindset" rooted in the country's experience with falling prices, Finance Minister Shunichi Suzuki said before the tax cut was implemented.

Interesting that this story is immediately preceded by a story about rising prices on 614 food and drink items in June.

Confusing?

Planned confusion? Probably.

Japan begins ¥40,000 tax cut to help inflation-hit households

Weird that the amount matches the amount that could have been paid out to citizens if all the yen manipulation was paid as a UBI.

Those earnings would be enough to return ¥40,000 each to 100 million citizens," Morinaga continued. "But naturally things don't work that way. The bank holds some ¥300 trillion in foreign exchange reserves, and even if it were to pour in the entire amount to intervene on behalf of the yen, it would still realize profits of ¥100 trillion or more."

Actually not so weird as the LDP as usual is doing a stop gap popularity boosting measure

For once giving labor the benefits from all the QE monetary easing instead of financiers.

Which they could have been doing all along.

Present Japanese PM seems to think that his support rate revive with only 40000 yen, pro-LDP commentators adore 40000 tax cut on TV.

But, electric bill at summer or price increasing vanish it soon.

Yay!! Could use more if they can spare it! Gonna vote for Kishida's party! (BTW, don't let them know I can't vote for the LDP since I can't vote in any elections anyway.)

Weak yen shouldn't have as much impact on the average joe than on companies. Companies should be looking to expanding to foreign markets in light of the persistent low yen.

They are clearly just trying to buy votes.

They are clearly just trying to buy votes.

A tactic as old as the world we live in. What did the Romans ever do for us?

Still, it will be a welcome bonus for many families.

If we are to address the hardships facing families in the wake of inflation, we would need much larger tax cuts than these half-hearted measures.

And the biggest problem is that, following on from invoices, this tax system requires a lot of tedious paperwork for each company.

If we are to address the declining birthrate and inflation, we need higher corporate taxes and simpler income tax cuts to reduce personal spending.

Government spending has decreased overall since Kishida took office compared to the time of former Prime Ministers Abe and Suga. Increase it, you idiots!

From what I can tell this is 40,000 yen in total from Saturday to December.

Not sure how it’ll work for people who pay their residential tax directly. Perhaps they’ll see that tax decrease. (opinion- with an increase elsewhere perhaps since local governments seem to like to spend money on nothing in my area).

So that’ll be at most 5,000 yen a month. It’ll hardly even register.

I would rather the government tell businesses that they need to raise salaries or face tax increases.

Someone needs to blink first and waiting for the wealthy and those with some modest pay raise from April to spend so it can trickle down to the grunts is foolish.

Anyone else noticed that all those LDP bribes always happens before elections? :)

Also is funny how immediately after this was an article ststing that 600+ items will see price hikes. Oh, the irony.

Always remember that whenever they open the ‘free money’ spigot, compassion is hardly the watchword. Instead, the essential motivation is a fear of the retribution they know from historical example that the plebs are capable of summoning up.