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Good news! Consumption tax increase looks secured: "Noda, opposition clinch deal."

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  • Good news! Consumption tax increase looks secured: "Noda, opposition clinch deal."

    I'm hugely supported of the consumption tax increase for a variety of reasons.

    Primarily, successfully passing this legislation would represent a landmark achievement in Japanese parliamentary affairs. For far too many years, the Diet has been marked by gridlock and an inability to get down to the business of making difficult decisions and passing reformist legislation. This tax increase is a big deal and will go a long way in addressing Japan's revenue problems. If Noda and the DPJ can get this through, it means that maybe -- just maybe -- Japan is capable of implementing smart public policy.

    Noda, opposition clinch deal on tax bill, early election

    http://www.japantoday.com/category/p...early-election

    "Prime Minister Yoshihko Noda on Wednesday night clinched an 11th hour compromise with the opposition, saving a hard-fought deal on a contentious sales tax increase in return for a pledge to hold a general election gsoon.h

    A final upper house vote on the tax plan had, until recently, seemed a formality after Noda reached an agreement with two main opposition parties in June and secured its smooth passage in the lower house."

  • #2
    And it will soon be goodbye Noda and DPJ and Hello LDP and Japan goes back to the same ole BS.

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    • #3
      Originally posted by BackDoor_Man View Post
      And it will soon be goodbye Noda and DPJ and Hello LDP and Japan goes back to the same ole BS.
      I fear that this may be the case. Unfortunately, too many electorates are just not public policy savvy enough to recognize sound legislation when they see it.

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      • #4
        thanks to the tax increase every time i buy an item for over 100-200,000yen the first place i will look is overseas where not only will i save money due to the high yen, i also won't have to pay tax, and rarely is anything charged duty.

        focking moron politicians. they should all be hanged - their dirty rackets and complete lack of transparency when spending is the reason the we don't have enough money in the first place.

        hang em, hang em!

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        • #5
          correct me if I'm wrong but wont this tax increase really hurt poor families in Japan?

          For me it wont cause much of a problem. I wont like paying more but I can afford it and it wont hurt me that much. However, poor people who are barley scraping by now will have trouble buying what they need to survive.

          If the government really wanted to raise money they should start with raising income tax and not consumption tax.

          With income tax they can take more from the wealthy or well off and still be able to protect the poor by giving back or not taxing the lower bracket.

          Just my idea.

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          • #6
            Originally posted by paradoxbox View Post

            focking moron politicians. they should all be hanged - their dirty rackets and complete lack of transparency when spending is the reason the we don't have enough money in the first place.

            hang em, hang em!
            "Men will never be free until the last king is strangled with the entrails of the last priest"
            --Denis Diderot

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            • #7
              Now with the tax hike in place, let's see a massive slashing of government expenditures. Tax and Spend is just so '80s. Let's play the European Union card by implementing austerity packages.

              Come on, Noda-pee. Start cutting government expenditures in a massive scale.

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              • #8
                Originally posted by Adol007fm View Post
                correct me if I'm wrong but wont this tax increase really hurt poor families in Japan?
                An increase in taxes like this will hurt hopes of growth, so many will be negatively effected. A strong recovery could be partly driven by consumers, but the chances of this are reduced when the cost of what people want rises. People are so tight fisted with their money here already, and this does nothing to encourage a needed recovery.

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                • #9
                  Good news since they'll be able to resurface the roads more often with the extra funds.

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                  • #10
                    Originally posted by ironist View Post
                    For far too many years, the Diet has been marked by gridlock and an inability to get down to the business of making difficult decisions and passing reformist legislation. This tax increase is a big deal and will go a long way in addressing Japan's revenue problems.
                    I don't share your optimism.

                    Didn't I hear they already had a plan to divert the funds from the originally stated intention (closing the gap of unfunded future liabilities) to some pork barrel concrete project?

                    The government doesn't have a revenue problem, it's a spending problem (addiction). Japan will repeat the moronic Keynesian mantra that deficit spending spurs economic growth into oblivion. The tumor has just acquisitioned a fresh supply of blood, that's all. There will be no reform. Collapse is inevitable.

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                    • #11
                      Originally posted by chiba View Post
                      Good news since they'll be able to resurface the roads more often with the extra funds.
                      It's funny because it's true.

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                      • #12
                        Unfortunately I only saw a snippet of the NHK broadcast last night - a program that examined a portion of the massive amounts to be paid out of the consumption tax to fund "quake and tsunami damage". It seems that a large portion isn't at all related to the damage, but instead is approved for virtually any project anywhere in Japan.

                        One that they mentioned was an eyeglasses manufacturer - who is to build a contact lens production line somewhere way outside of the damage area. Oh, the tie-in to the damage - was that if they also sell contacts that they eventually, might, well conceivably could, if they wanted to - hire an additional sales person somewhere in the quake damaged area.

                        Anyone see this program and have more to add?

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                        • #13
                          where's a japanese lee harvey oswald when you need one

                          really frustrating to see these idiots destroy the countries economy even further with bull$hit like this

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                          • #14
                            Consumption taxes don't dampen spending for long. In the end, people don't put off purchases of food, gadgets, cars, etc., just because the consumption tax is higher than before. In Canada, the tax shot up to around 15% in many places around the late 80s and early 90s, and domestic demand held steady and the economy grew afterward to record levels.

                            Japan needs these revenues to get a reign on its healthcare costs.

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                            • #15
                              So you think that the last 15-20 years of NO economic progress in Japan is going to be improved by more than doubling the tax rate?

                              You have got to be kidding me.

                              After 20 years of stagnation a tax increase was the last thing Japan needed.

                              It's like using bloodletting to treat a patient with low blood pressure.

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