LDP, opposition clash over economy, COVID in election campaign

@garypen

Teslas are outright superior to any Japanese cars.

Watch them implode this decade as their sales fall. Did you check the 2019 vs 2021 sales for the automotive industry? Everyone but Tesla is falling.

Japan's best performing sector is its automotive sector, which is being threatened by the superior Tesla.

Japan's auto industry may have some recent issues to resolve. But, it is not in any way being threatened by Tesla, or any one company. Certainly not when it comes to quality and reliability.

kiboushaToday  11:05 am JST

LDP yelling "change", is truly an oxymoron.

As the LDP have been running the country for most of the past seventy years it's pretty much a tacit admission that they've messed everything up.

eslaInvestorToday  01:39 am JST

China may be a strict, authoritarian country with questionable ideologies, but they have run their economy far better than the Japanese have recently.

The CCP leaders are hungry for success and they have dangerous enemies. LDP leaders are self-entitled old frauds who have got this great election-winning scam going that pretty much works itself, so they've become lazy, complacent and morally bankrupt. They don't need to care about running the economy well because their jobs, salaries and perks are guaranteed no matter what.

LDP yelling "change", is truly an oxymoron.

@marcelito

You are correct. Japan is living off the lead they developed by developing before the other Asian countries, but that lead will evaporate. Their automotive industry will be the next sector to collapse this decade.

@Simon Foston

I particularly love how he tries to point to flaws in other Asian countries to try to argue his point as if Japan doesn't have any faults. China may be a strict, authoritarian country with questionable ideologies, but they have run their economy far better than the Japanese have recently. Russia and North Korea are being sanctioned by the west, so their situation is understandable.

Hong Kong and Singapore have higher GDP Per Capita than Japan. Taiwan leads logic chip fab and have GDP Per Capita PPP than Japan. Korea leads memory chip fab and have higher GDP Per Capita PPP than Japan.

As for Japan, they were definitely the first to ape the west and easily expand their economy when they didn't face competition from other countries. The world economy is much more competitive now and the 'Japanese way' looks like it won't work in the 21st century. Japan's best performing sector is its automotive sector, which is being threatened by the superior Tesla.

TeslaInvestorToday  03:59 pm JST

@kennyG

Nonsense.

China, South Korea and many other Asian countries that would do well if Japan failed.

I think his point was that if Japan can't make capitalism work then none of those inferior nations filled with ethnically inferior people can. Of course, Japan hasn't tried very hard to make capitalism work under LDP leadership.

@kennyG

Nonsense.

China, South Korea and many other Asian countries that would do well if Japan failed.

You assign far greater importance to Japan than they warrant. Japan is replaceable at the end of the day and the world will move on as if nothing happened (Except for maybe the basement-dwelling anime fans).

Japan's main strength is not what you think.

If Japan fails on capitalism, no Asian countries including Russia would succeed. Look at what's going on in CCP Chinese markets. Look at all other Asian/Russian markets.

Efforts, Challenge, Risk-taking should be rewarded for better life by those who don't conveniently move around carrying multiple passports daring to demand for voting rights

This is not very in touch with the reality of this late stage capitalist economy.

Japan gets capitalism about as well as it gets democracy if you ask me.

Many service industry workers making 200,000 or so a month

People on that sort of wage will pay a 10% tax rate on their income, only half the capital gains rate.

Indeed if they manage to save an invest any of that in investments, they will pay a flat 20% or so rate on those capital gains, so no, I don’t believe work is taxed at a higher rate as Edano claimed.

Income above 3.3 million and up to just under 7,000,000 yen is taxed at a 20% rate, and it’s only above that amount that the income tax rate is actually higher at 23% - and at that point we are talking about people who /should/ shoulder the tax burden. And even at the next 23% rate above that, there is a deduction.

And these are people on above average incomes for Japan.

If anything, income tax should be cut for those at the lower end, and punishing people who save and invest their money more seems crazy. The capital gains tax rate is already twice the consumption tax rate.

Personally my investment is all outside of Japan (after giving up on the initial hope of Abenomics 3rd arrow which wasn’t followed through), but if the government would get something right I’d very much like to start investment some in Japan again. But hiking the capital gains rate would have the opposite effect for me personally.

All of those candidate look like they've not seen the sun for 10 years, boring.

The support and setting up of the LDP is the longest and most successful CIA operation ever. (Not difficult with their track record TBH).

But come on. How many people actually pay an effective tax rate of above 20% who are not well-off / rich?

The 33% tax rate only kicks in for people earning above 9 million, and there is a fat standard deduction too, bringing the effective rate down. The next lower level is 23%, and considering the dedication…

This is not very in touch with the reality of this late stage capitalist economy. Many service industry workers making 200,000 or so a month(and quite a few in IT, engineering) see 40, 000 to 60000 yen a month paid after income taxes in the residence, pension, unemployment and health insurance payments. This is well about a 30 percent effective rate on the lowest earners. This may not be your reality but is THE reality for a sizeable proportion of the population. This is what progressive tax policies seek to redress.

But I believe it can be done through tax incentives, strengthening the positions of unions and labor, and more progressive labor and fiscal policies. So socialism, not hardline communism.

Let’s not do tax incentives.

As for strengthening the position of labor, the Isshin party is calling for labor market reforms, and I think they are on the right track.

The current system makes for two tiers of worker, the protected seishain and the unprotected contract worker.

This system is a problem. It’s unfair and doesn’t create the right incentives for people.

Of course reforming it would be very unpopular with the seishain. But abolishing privilege is what good reform is all about.

Adults don’t need coddling. Adults can enter labor agreements that are mutually agreeable by themselves. This should be the basis of labor reform.

And people need to change jobs if they want better pay. That’s how it works in a free market…..

When will the wealthy Chinese tourists be allowed back? They'll boost the economy.

One good thing about the pandemic (if any at all), was the notable absence of them.

When will the wealthy Chinese tourists be allowed back? They'll boost the economy.

"It is wrong that the tax rate for money made through stocks is lower than that for money earned by working."

If so, the solution is not to hike tax rates on investment, but cut tax rates on working.

But come on. How many people actually pay an effective tax rate of above 20% who are not well-off / rich?

The 33% tax rate only kicks in for people earning above 9 million, and there is a fat standard deduction too, bringing the effective rate down. The next lower level is 23%, and considering the dedication…

This seems like a tiny issue at best, compared to Japan’s real problems.

from this week, Japan's mainstream media are stopping criticism to political parties or candidates, just introduce election promise, never mention even politicians' money scandals or fake news issue of LDP. 

And ruling parties are spreading disinformation to discredit opposition parties everyday.

If you have growth, you don't necessarily need redistribution either. The consumption tax should be lowered to 5% too as that would give relief for the public while also encouraging greater consumption.

The point being with Edano is if redistribution comes first, then growth will follow because the redistributed wealth will be spent. It's the opposite of Kishida that wants growth first with distribution to come after (trickle down Abenomics).

If anyone campaigns on reversing the consumption tax increase back down to 5% or eliminating it for non-pre-made foods, they deserve to be voted in to the assembly.

I'll take two mic buffoon in the lower left to block, Jim.

Of course, by all logic it’s the income, not the taxes. Many now don’t have a significant income, so it’s irrelevant for all of them if there is much or a lower or no tax on the basic goods and services they need but can’t afford. And it also doesn’t help them a zero tax or talking of raising taxes for the very riches, stock owners etc. If you have only 50 yen and want a small bread to eat for 100 yen, you just don’t care at all, if it costs 110, 108, 100 or if a billionaire pays 15, 25 or 50% income taxes. You just then need about another 50 or 60 yen to put something into your starving stomach.

Kishida the robbinhood of Japan.

Take from the rich and give to the poor

I hope the anti-NHK guy wins.

It's scary that someone so clueless can lead the world's third biggest economy. If you want a prime minister to unilaterally raise private-sector wages, then vote for hardline communists.

No, the communists will nationalize the key industries and protect the SMEs instead. The moves that angered the US in the 1980s to unilaterally sanction and cripple the Japanese economy permanently.

Having the JCP around will drastically improve the living conditions in Japan. The communists will improve relations with China-Russia, Korea. They will kick the US out of Japan, while the militarization of Japan will still happen for the sake of peace through armaments of China-Russia. Even the JCP may have denounced the CCP, they merely pretend to do so because they are weak against the LDP. This is a nice fantasy that the US won't ever allow to happen in Japan.

Japan is a rich country for only 10% of the population, the ruling class. It’s been like that for over 500 years and it will never change, regardless of which party is in power.

Yeah great !

Raise prices and then expect people to spend more.

Where's his awesome concrete plan that was to be revealed?

Is the election going to be a failure also.

Dithering and blithering aimlessly is not encouraging

Please be done asap. Incessant, obnoxious auditory assault of megaphones at train stations and from cars driving around waving white-gloved clowns.

Internet campaigning? hah! Yeah nice one.

How about concrete details on how you're going to spread the wealth Kishida? At least Edano said something about raising the capital gains tax. The LDP have only increased the consumption tax which hit middle-income and lower people harder. Give the people incentive to spend their hard-earned stagnant wages.

I'll give you one guess as to who is going to win.

Keiichi Ishii, secretary general of the LDP's smaller partner Komeito, said in Tokyo, "Only the LDP-Komeito coalition can revive the Japanese economy damaged by the coronavirus pandemic."

Japan's struggling economy because of the corona virus because for nearly two years it has been bad decision after bad decision. And the absolute highlight, the icing on the cake, was the Go To Travel campaign and similar. The main problem is simply that in order to avoid anyone having to accept any responsibility, the government has taken its hands off everything. A declared state of emergency? Nonsense - if they had actually declared one and it was a hard lockdown like in many other countries, they would have had to deal somehow with the businesses that were closed and losing money because of the government's decision. So the government would be spending a lot of money to cover the losses.

However, as it has so far been only a form of a request, the businesses have not been ordered to close, so they have closed of their own accord and therefore will not get any proper compensation. Maybe some small, but it will not even partially cover their losses.

This cowardly attitude has affected not just pubs, izakayas and hotels, but just about everything.

And now the government literally wants to solve the spilled milk on the floor by pouring water on it, covering it with a rag and looking the other way until it somehow resolves itself...

In Sapporo, Kazuo Shii of the opposition Japanese Communist Party, said, "We need a change of government in order to protect lives from the novel coronavirus."

A typical populist claim by communists who are in opposition...

More than a change of government, it takes a change of mindset. Planning. And most importantly, a crisis plan and capable crisis management. Changing the government won't just be like a POOF - and all is well

TomiToday  08:35 am JST

A healthy society needs to change its government time after time to avoid developing a non-productive introvert aristocracy.

Unfortunately once such an aristocracy comes into existence it thinks it has a god-given right to keep itself on top of the serf's and peasants, and contrives to stay in power. Hence the vote value disparities, the obscenely high cost of becoming an election candidate and the political funding law loopholes which hereditary politicians exploit to amass huge campaign warchests.

An ineffectual drone fest which won't change the result. The sheeple will just vote jimin back in.

Looks like Kono should have been the LDP candidate! It is business or corrupt business as usual with Kishida. More poor policies that only the LDP and its friends like NIssan, Dentsu, and TEPCO while destroying what is left of the Japanese equivalent of the middle class

The markets are proof of that!

JeffLee "Wages are overwhelmingly decided in corporate boardrooms and through negotiations between corporate management and labor unions. There's no direct government role."

As long as government has the ability to tax Corporations they have the ability to affect wages. Now the question is only if the have the will or resolve to use that power

That is complete bunk. Wages are overwhelmingly decided in corporate boardrooms and through negotiations between corporate management and labor unions. There's no direct government role. Abe made numerous very public calls for corporations to raise wages, which they rejected, and for which he, as prime minister, was powerless to act.

It's scary that someone so clueless can lead the world's third biggest economy. If you want a prime minister to unilaterally raise private-sector wages, then vote for hardline communists.

Jeff is telling the truth here. Abe's biannual pilgrimages to Keidanren to "urge" them to raise wages was performance theater.

But I believe it can be done through tax incentives, strengthening the positions of unions and labor, and more progressive labor and fiscal policies. So socialism, not hardline communism.

The markets don’t look forward to the election results as can be seen in the downward pressure on the yen-it’s tanking…

A healthy society needs to change its government time after time to avoid developing a non-productive introvert aristocracy.

Keiichi Ishii, secretary general of the LDP's smaller partner Komeito, said in Tokyo, "Only the LDP-Komeito coalition can revive the Japanese economy damaged by the coronavirus pandemic."

HAH! For YEARS They couldn't revive it and that was BEFORE the pandemic! Why would anyone with half a brain think they will be able to do it now??

Seems to me if Japan vote kishida in the cost of living will go up, the value of your money will go down and salaries for higher earners will go up-I’d probably add a consumption tax increase in there too. The definition of insanity is doing the same thing over and over and expecting a different result-only a madman would vote kishida in..

All a lot of hot air and lies.

Who cares with these jokers. Like they really have the general public's interest anyway. I won't believe anything they say until they back it up with action.

"Suga left a mess and I won't be able to fix it"

How's this for an honest campaign promises?

Why should owners of a company pay less tax than employees whilst earning a larger salary?

In Japan that is possible…

If Kishida really believes “spending will bring economic growth”, then he should abolish or at least lower the rate of the consumption tax, a penalty on spending,

Speaking in Kobe, a day after campaigning began, Kishida vowed to implement "economic policies that will raise the income and salaries of as many people as possible."

And by as many people as possible I mean the executives at Keidanren company and their associated stakeholders.

"Many people who live in this rich country Japan cannot feel it. Let us share that wealth. Let us make people who made money through stocks pay more tax," said Edano, adding, "It is wrong that the tax rate for money made through stocks is lower than that for money earned by working."

This is a worldwide phenomena. it even made Warren Buffet go on TV with his secretary to point out the fact she paid a much higher rate of tax than he does. Still hasn't changed the fact. It won't change unless corporate money is booted out of politics.

politics is the reason behind the low salaries of such care workers, saying the wages "can be raised if the government decides."

That is complete bunk. Wages are overwhelmingly decided in corporate boardrooms and through negotiations between corporate management and labor unions. There's no direct government role. Abe made numerous very public calls for corporations to raise wages, which they rejected, and for which he, as prime minister, was powerless to act.

It's scary that someone so clueless can lead the world's third biggest economy. If you want a prime minister to unilaterally raise private-sector wages, then vote for hardline communists.

I wonder if there is a politician juku where future politicians learn how speak with closed fists? This is a very important skill to learn.

"Ooooh, he makes a very nice fist and looks like a real leader."

As long as the poor continue to have their meager wages being taxed on food purchases then the LDP is content…

Kishida: Growth and distribution 

Edano: Redistribution and growth

Kishida: Same capital gains tax

Edano: Higher capital gains tax

Kishida: COVID “worst case scenario” consideration 

Edano: COVID command center

Seriously would you trust anyone of them as far as you could throw them???