politics

Japan shouldn't exaggerate pain from tax hike: BOJ policymaker

9 Comments
By Leika Kihara

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9 Comments
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IT WILL BE PAINFUL. WTH?

3 ( +3 / -0 )

from Abenomics to Abepanics...no relief from pain.

3 ( +3 / -0 )

Um, raising taxes and cutting spending to rebuild Japan's finances is going to hurt. Japan has the highest public debt in the industrial world. When you see spending cuts from the government that's going to hurt. You really have to cut from your budget to wipe out debt in the real world. Handaya restaurant, Shimamura clothing store here I come.

2 ( +2 / -0 )

Uhhhh...if you are very wealthy maybe not, but the added cost to food and medicine IS going to be hard for tens of millions. Food prices here (especially for healthy foods) are already near the highest inthe world, because of other taxes, tariffs and middlemen taking a large share.

2 ( +2 / -0 )

It's only a 5% pay cut. Why only a 5% increase? Why not 50%?

0 ( +0 / -0 )

Just check out the articles coming from this Reuter's blogger and you can see a notable pro Abenomics, pro neo-liberal bias in her reporting. For her it seems as if the economy is just about the movement of finances and goods, not about the lives of average people who have seen their real wages decline over the past number of years, job security diminish and tax rates rise at the same time they are reduced for the top income earners. This flat-tax of course will cause pain and policy-makers, who are suppose to represent the people, should acknowledge this. A more progressive tax base is the only way to share the pain and reduce the debt, but the economic elite are too greedy to act in the interest of the nation, the young and future generations.

http://blogs.reuters.com/leika-kihara/

2 ( +2 / -0 )

The kind folks at BOJ who actually run the country(ruin?) have been hard at work expanding and reinventing the numerous LDP-led errors from the past. They've learned nothing from their repeated failures since 1987. Explaining Japan's Recession

Mises Daily: Tuesday, November 19, 2002 by Benjamin Powell

http://mises.org/daily/1099

2 ( +3 / -1 )

Please, keep the food taxes at 5 percent!

3 ( +3 / -0 )

Exempt food (especially bought in a shop) from the sales tax altogether. Too many tariffs, hidden taxes and middlemen fees already make food very expensive here.

3 ( +3 / -0 )

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