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Kishida pledges to do utmost to tackle negative impact of price hikes

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Enough with the air punch pose and hot air, get to work!

26 ( +30 / -4 )

"We are now at a critical juncture in terms of whether we can guide Japan's economy into a cycle of growth, in which sustainable wage and investment increases will be repeated," Kishida said in a speech at Kyodo News headquarters in Tokyo.

What fantasy world does Kishida reside in?

I don’t know a single Japanese person receiving a higher wage in 2023 than in past times.

7 ( +22 / -15 )

Kishida pledges to do utmost to tackle negative impact of price hikes

'Do the utmost ' and then the prescription drug side effect fast talk;

Excluding cutting political and bureaucratic, subsidies to Japan Inc and associated cronies, actually giving workers funds to assist their livelihoods, tax cuts to workers etc etc etc.

12 ( +20 / -8 )

tackle the negative impact of recent price hikes by achieving wage growth in collaboration with the public and private sectors.

Kishida’s pledge will be realized through strong urging.

Hopeless.

Lower the gd consumption tax already.

23 ( +26 / -3 )

Doing something about the insanely low interest rates that's pounding the Yen into oblivion perhaps? I thought not.

12 ( +17 / -5 )

The simple solution is get rid of 消費税(sales tax) all together or ban it on food and life essential items. This will never be done because everytime the price goes up its essentially a tax increase for these schwine hutes in this government.

Another solution is increase taxes on all big companies that are reaping the benefit on the weak yen , take government funds, and hord cash that refuse to increase salaries. These companines should be fined and have their tax increased exponentially. This will never happen because how much the LDP schwines are associated with big companies.

21 ( +24 / -3 )

More pledges! Bla, bla, bla.

1 ( +11 / -10 )

Wish I had the paper,Mr Kishida.

2 ( +4 / -2 )

Fantastic! There never was a money tree but it true Japanese style technology has shown the way. Helicopter money. In todays world it’s probably drone money….. cause they’ve certainly been droning on about it.

3 ( +8 / -5 )

I don’t know a single Japanese person receiving a higher wage in 2023 than in past times.

I don't know a single person in Japan, Japanese or otherwise, who has gotten a raise in 10 years. The only way to get some sort of pay raise is to leave the company and find a better paying job. No one is raising wages at all.

22 ( +24 / -2 )

Yes, firstly cut the sales tax in half or more.

Next eliminate half of these useless politicians. For example my city has 30 councilors making 7 million plus a year. 30! Our population is only 50k people!?

Then car shaken mafia scam, goodbye. 10k yen for inspection tops.

allow competition against the conglomerates in beer, liquor, meats, rice, leather

scrap the ridiculous college entrance rigamarole which kneecaps the best and brightest trying to enter uni !

for starters

17 ( +18 / -1 )

he already said he is raising taxes next year. FRAUD

7 ( +12 / -5 )

These guys are pawns and sell outs to foreign powers. There’s a history in the family. You thought you were supporting Abe and Japan but look what happened with the church.

2 ( +8 / -6 )

Apparently the "utmost" doesn't include a reduction or elimination of the sales tax, the most regressive tax there is.

10 ( +12 / -2 )

He lives in a luxury Life and came from a very wealthy family from Hiroshima. He never knows hardships!

2 ( +11 / -9 )

Even if wages increase, I seriously doubt it will increase consumer spending or confidence. The population has seen firsthand how inept the government can be during a crisis as clearly demonstrated during the pandemic. People are going to save and refrain from spending, as there are just too many problems that Kishida and the LDP aren't willing or equipped to handle.

6 ( +8 / -2 )

Next eliminate half of these useless politicians. For example my city has 30 councilors making 7 million plus a year. 30! Our population is only 50k people!?

Amen. Okayama has 43 people on the city council. My hometown of Atlanta - rather larger than Okayama - has 16.

And just in this morning's paper there was an article about the LDP plans to reduce the amount of the income tax deduction for children in high school. It is 320,000 right now, I think, with plans to lower it to 280,000 or so. Technically not a tax "increase," but still...

11 ( +12 / -1 )

When I came to Japan 50 years ago, this country was booming. It certainly isn't now. What's the difference? The huge one that I can see is taxes! Consumption tax is crippling and holding down the domestic economy. Get rid of it. And do everything possible to build up the domestic economy. Support farmers and local food production. So much food is imported that could and used to be produced here.

7 ( +13 / -6 )

The simple solution is get rid of 消費税(sales tax) all together or ban it on food and life essential items.

How are you going to pay for the tax cuts?

2 ( +4 / -2 )

How are you going to pay for the tax cuts?

The way that Kishida and all the top dogs pay themselves, by printing yen.

And eliminating useless politicians as well as useless civil engineering projects to nowhere

7 ( +11 / -4 )

He’s got his fist clenched! That means business!

4 ( +9 / -5 )

When I came to Japan 50 years ago, this country was booming. It certainly isn't now. What's the difference? The huge one that I can see is taxes!

Indeed. I recently read a Japanese-language article talking about the massive increase in payroll taxes and insurance contributions over the last 30-40 years: national pension (huge increases), nursing insurance for workers over 40 (didn't exist then), and several others. About the only thing that has gone down is the marginal tax rate on super-high earners!

Someone earning 330,000 yen today takes home less than a 300,000-yen earner did back then, and that's before we even look at how inflation has destroyed the purchasing power of today's workers. Those at the top just keep squeezing and squeezing.

11 ( +11 / -0 )

How are you going to pay for the tax cuts?

-Cut military spending

-Cut foreign aid

-Reduce healthcare spending (people over the age of 50 should have to pay 50 percent of the healthcare bill instead of 30. The amount of healthcare provided by the government should be capped to a certain figure per year.)

-Reduce the number of politicians. Have you seen what the Japanese Congress looks like? Tons of people sitting around doing nothing and getting paid the big bucks to do so.

-Reduce welfare benefits and redistribute that to EVERYONE in the form of low taxes. No reason I should be subsidizing someone else's child when I am unable to save up to have one of my own.

-Raise corporate taxes for companies that hoard profits and don't offer employees raises.

-Raise greater taxes on that have CEOs that have large discrepancies between their salaries and their employee's salaries.

The list is endless, but actually requires some out-of-the-box thinking. Sucking up valuable money from people in their 20s and 30s through taxes is what will ruin this country.

8 ( +12 / -4 )

Not a single worker I know is doing better now than they were in 1995 when I arrived here.

I swear to god, if it weren’t for the shoganai mindset inculcated into young minds, with the concomitant “gambarimasho” (in other words, “we are powerless, so let’s just put up with it), this country would be awash in revolutionary zeal.

But no, we’re just going to be “thank you sir, may I have another “ and voting LDP next election.

Death spiral.

3 ( +15 / -12 )

Given how low his ratings are, I think even most Japanese can see through the clenched fist empty rhetoric churned out almost daily by the out of touch politicians supposedly running Japan. Had enough already? Probably not cause they keep voting the LDP back in regardless.

7 ( +8 / -1 )

Food prices are through the roof and most people haven’t seen a real wage increase in ages. Meanwhile big corporations and their LDP cronies salivate over all the desperation they created and the exploitation opportunities they’ll profit from.

3 ( +7 / -4 )

My dog, look at the clenched fist and determination on his face, I think he really means business this time.................Oh hold on, a flock of red elephants just flew over our house............LOL!!!

1 ( +5 / -4 )

Eliminating the consumption tax sounds like a nice idea - but you proponents of that idea have what plan to plug the increased deficit that would create?

You have a dream that Santa Claus will pay the equivalent tax instead?

Or you want to cut spending?

I want to cut spending, myself. But Japan’s deficit is greater in size than consumption tax revenues.

Or maybe you all haven’t thought about the way that killing consumption tax would worsen Japan’s public debt situation, the worst in the developed world?

You think the BOJ should just print more money?

Remember, the problem is inflation. Your proposed solutions should make the situation better, not worse.

2 ( +5 / -3 )

Zero percent tax on foodstuffs and other essentials such as children's shoes, clothes, etc.

Make up the difference by raising the top tiers of income tax.

Scrap tax exemptions on religious organisations and the like.

8 ( +9 / -1 )

Kishida is an environmental destructor and profligate resource waster himself.

Kishida could reduce his useless foreign trips by half and STOP taking 2 jet planes everywhere he goes!

Then there would be cause for fist clenching…

-1 ( +5 / -6 )

Salaries are actually dropping.

My future is so insecure.

Causes so much anxiety it makes you wonder is there a point.

3 ( +8 / -5 )

Tax cuts are only a very theoretical solution and practically will help almost nothing at all. If for example your daily lunch budget is 500yen, but the inflation has suddenly brought up all the lunch prices to 770yen, including 10% tax, then show me how you can buy any of it, when the tax would be completely cut and it then still costs 700yen. Additionally to that you still can't buy anything, the state, prefecture or city / village community lacks then the 10% tax, needed for anything infrastructure, education, defense, child rearing support, social security and pension funds and all such. Tax cuts will massively fall on own feet and won't make better your situation, neither short nor long time. The only solution is another, but I'm tired of typing it again and again. Well, it's ignored anyway, so let's continue suffering more and more until the nearly irreversible decline is completed and the game is over. That's obviously the priority everywhere, not only in Japan btw.

4 ( +4 / -0 )

cleo for PM.

2 ( +7 / -5 )

To be brutally honest, inflation is in the government’s interest as it reduces the value of its current debt and increases tax revenue from sales and wage taxes. It is a stealth tax transferring your income and buying power to the government.

1 ( +2 / -1 )

RedemptionToday  03:27 pm JST

To be brutally honest, inflation is in the government’s interest as it reduces the value of its current debt and increases tax revenue from sales and wage taxes. It is a stealth tax transferring your income and buying power to the government.

Yes I think they want to have a 4 % to 5 % inflation rate even though they pretend to target 2 %. Inflating away the massive public debt is the only way to pay it back. Inflation has been above 2 % target for 17 month and the BOJ forecast it will remain above 2 % for the next 2 years. So obviously they do not care about the target.

2 ( +3 / -1 )

How are you going to pay for the tax cuts?

By cutting out the pork and white elephants and reducing the number of hangers on.

-2 ( +2 / -4 )

cutting out the pork and white elephants and reducing the number of hangers on.

Show the actual numbers.

How much consumption tax revenue should be cut (ball park trillions of yen)?

What specific budget items shall be cut to make up for it? (NOt to mention the existing 40 trillion yen annual deficit).

I saw the proposal from PM cleo for the difference to be made up by hitting high income earners even harder. The top income tax rate is already very high - there is no guarantee that hiking that top rate even further would increase tax revenues - indeed it might lead to lower overall tax revenues.

Also, such a plan is always just the top of a slippery slope. This idea of rich people being an endless flow of untapped tax revenues needs to be demonstrated with actual numbers - are there really the equivalent amount of extra taxes in them to pay for the proposed reductions in consumption tax?

Lets see actual numbers, in round trillions of yen, and ballpark numbers of people that will pay the extra tax.

-1 ( +1 / -2 )

The vulnerabilities of existing supply chains that depend heavily on China.

Japan needs more and more stuffs that are made from in China. This is inevitable that to save lives from hardships!

0 ( +1 / -1 )

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