DPJ’s Election Pledge: “We’ll Raise Taxes 15%!”

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The Democratic Party of Japan, Japan’s leftist opposition party, seems intent on continuing its long history as an opposition party, having announced that it will “solve” Japan’s impending economic collapse under the weight of an unrealistically generous pension system by raising income taxes for all Japanese by a staggering 15%.

The plan, part of their election manifesto, would see a uniform 15% increase in income taxes (disguised as a pension plan) across all of Japan’s already hard pressed workers, irrespective of earnings; the cash would apparently be earmarked for squandering by Japan’s rapidly growing elderly population.

The policies favoured by the ruling coalition are more concerned to avoid any further strangulation of Japan’s fragile economy with excessive taxation, and center on reductions in the amount of pensions payable, though there is some doubt they have the capability to undertake serious reform.

It seems no matter what incompetence the LDP is capable of mustering, the opposition parties are capable of worse, a pattern which seems set to ensure the LDP’s almost uninterrupted 50 year reign is to continue…

Via 47news.

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