politics

Japan may consider further stimulus package for COVID-19-hit economy: Kono

14 Comments
By David Dolan and Tim Kelly

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14 Comments
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Another sign of tax increase later. Definitely not a free meal. Ouch!

9 ( +9 / -0 )

More masks on the way..

5 ( +5 / -0 )

Another sign of tax increase later. Definitely not a free meal. Ouch!

This is what everyone forgets somehow

Throwing money around isn't cheap, who would've guessed...

4 ( +4 / -0 )

This time, Let’s not give cash handouts to those who don’t need it.

-1 ( +4 / -5 )

We should be so lucky to have Kono as a PM but the LDP will not allow him. Sure , he his now positioning himself for a shot at it in September with these and his Olympic comments but he has my support, inspite of him not honouring a contract with me in 1998.

he is the best man Japan has for the PM job, also speaks perfect English

-2 ( +3 / -5 )

Perhaps it's now time for a long-overdue vaccine of socialism to save capitalism and a radical reform of social values to speed recovery. Amazing what humans won't do a little virus might! Whatever, there will be big lessons to be learned from this calamity.

0 ( +1 / -1 )

This is what everyone forgets somehow

Throwing money around isn't cheap, who would've guessed...

I don't think anyone forgets this, but when you have an emergency situation you need the government to provide support now and then they can reclaim it through taxation or whatever later.

If lots of companies go bankrupt and workers lose their job now, that's also going to have a negative impact on the economy and taxes, and it's quite likely to be a longer one.

On the assumption that these vaccines will be effective, and that the situation will improve from summer, it would be dumb to allow all these companies and families to fail 3-4 months before the end.

TBH, it's one of the roles of government and taxes. They should be there to help when we have these kind of situations, and then we pay back through taxes in the good times. The problem is that a lot of governments cut taxes and spend when the times are good, and then have little room to maneuver when times are bad.

1 ( +1 / -0 )

Robert Maes, I totally agree with you.

3 ( +3 / -0 )

You should give it next time personally to every citizen, and only useable by that one person, for instance mynumber-based or so, not per household, then of course the one in the household who doesn’t urgently need it, takes almost all. For example, I got only 10%, the rest became unknown household budget, I also partly profited from or didn’t, the economy also profited or did not, I just don’t know. Now guess, how in all similar cases, and there are many, we could support the economy...you surely guess it, with almost nothing....lol

-1 ( +1 / -2 )

Hopefully we'll get another ¥100,000

4 ( +4 / -0 )

“Stimulus” is just a cover to loot taxpayer money to give to Dentsu, politically connected businesses, and political families. It serves no interest to any common people.

2 ( +2 / -0 )

I don't think anyone forgets this, but when you have an emergency situation you need the government to provide support now and then they can reclaim it through taxation or whatever later.

Absolutely right! Simply put, it is like a savings account. You withdraw some in time of need and then you deposit/save again when you recover.

1 ( +1 / -0 )

@nator - Absolutely. Well said.

0 ( +0 / -0 )

then they can reclaim it through taxation or whatever later.

Japanese governments struggle to raise taxes.

So unfortunately it’s more likely that it will be repaid later through the inflation tax, which is very regressive and hurts the poor the most.

On the assumption that these vaccines will be effective, and that the situation will improve from summer, it would be dumb to allow all these companies and families to fail 3-4 months before the end. 

I’m skeptical that Covid will be past by then.

TBH, it's one of the roles of government and taxes.

As a last resort, I agree.

They should be there to help when we have these kind of situations, and then we pay back through taxes in the good times.

Other options exist. We ought consider for next time whether better options exist, than government spending and taxing.

Imagine, if people had saved sufficiently to be able to tide themselves over through the pandemic? How about the government taxes us less, allowing us to save for ourselves?

Then instead of the government spraying money around in times like now, with some spending hitting the mark, but lots not, people who need to draw down their savings, would be able to do so. Without cost to taxpayers and the poor people of the future who will likely suffer from the inflation tax.

I would be in favour of making such savings compulsory, for with the money retained otherwise in control of the saver, rather than politicians and bureaucrats, the money would be spent better.

The problem is that a lot of governments cut taxes and spend when the times are good, and then have little room to maneuver when times are bad.

Yes, but I would note that cutting taxes does not always reduce tax revenues.

I think it is key to have we the people retain control over spending for ourselves. Paying tax to the politicians and then getting only a portion of it back is not a great bargain.

0 ( +1 / -1 )

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