On the afternoon of the 13th, executives of the Tax System Research Committee of the Liberal Democratic Party, Komeito, and Democratic Party for the People held a meeting in the Diet to discuss the “1.03 million yen annual income barrier” above which income tax is triggered. The ruling party proposed raising the tax rate by 200,000 yen to 1.23 million yen, with this amount being applied to income from 2025 onwards. The Democratic Party for the People, which wanted 1.78 million yen, resisted and called for a further increase. The ruling party wants to decide on the outline of tax reform for fiscal 2025 within the month, and will hold further discussions with the Democratic Party for the People in the first half of next week in order to expedite the conclusion. The LDP and Komeito also agreed to increase corporate and tobacco taxes from April 2014, two of the three taxes that will serve as sources of funding for strengthening defense capabilities. The decision on when the income tax increase will begin will be postponed. At the meeting on the 13th, the ruling party presented a proposal to raise the basic deduction and salary income deduction by 100,000 yen each to 580,000 yen and 650,000 yen, respectively, in relation to the 1.03 million yen barrier. The total comes to 1.23 million yen. The 2025 amount will be handled through year-end adjustments. After the discussions, Furukawa Motohisa, chairman of the Tax Commission of the Democratic Party for the People, rejected the idea, saying, “This is pointless.” On the 11th, the secretaries-general of the three parties agreed to raise the 1.03 million yen barrier “from next year with the aim of raising it to 1.78 million yen.” December 13, 2024 21:16 Kyodo News ★12024/12/13 (Fri) 21:39:42.44 ※Previous thread.
>>2 That’s it. The LDP, Komeito, and Constitutional Democratic Party do not realize that this was already clearly reflected in the number of votes in the House of Representatives election. The Tax Increase Party should be eliminated in next year’s House of Councillors election.
Financial Truth Cult is a religion that advocates tax increases, using the debt-to-GDP ratio as the only absolute criterion for making decisions. It aims to stir up financial anxiety, even though there is no relationship between population growth rate and growth in GDP per capita.
The tax hike will accelerate Ishiba’s stagflation. He induced a weak yen, made prices high, and then raised taxes again. Kishida would have been better lol.
After all, money is something you make, not something you collect. All you have to do is print the money you need. To deposit the money you need, simply write down the amount you need in your bankbook.
Well, if the goal is to eliminate the need to work, that’s about right. There’s a social insurance threshold of 1.3 million, so I won’t work any more than that. If you’re going to do that, you might as well make it another 70,000 to match the social insurance threshold.
Taking money from the people to protect the country is the same as the Yakuza taking protection money. Rather, it would be counterproductive because the tax increase would lead to impoverishment and weaken the country. The correct answer can only be government bonds.
Even if we cut taxes, we will have to raise taxes elsewhere, which will only result in future generations being burdened with debt. Japan will be doomed unless we cut the number of bureaucrats and civil servants in half.
Citizens, let’s obey the LDP, our government official. We’ve been obedient to the collection of taxes since ancient times, so it’s not good to pamper the people. We must take what we can, and there will be no compromise.
Although Mr Miyazawa responded in good faith, the response of the Democratic Party for the People is unacceptable, and the Japanese people should defeat the Democratic Party for the People.
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