Japan says nominal to top real GDP growth

Business Aug. 18, 2012 - 06:02AM JST ( 3 )

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basroilAug. 18, 2012 - 06:08PM JST

That is, of course, until the new tax takes effect and the growth will become very negative.
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kchozeAug. 19, 2012 - 09:02AM JST

The effects of raising taxes on economic growth are vastly overrated by some. I don't think there is any concrete evidence for it. Certainly some of the countries with the best economic growth of the last two decades have been Scandinavian countries where taxes are very high, they didn't seem to hurt them too much.
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basroilAug. 19, 2012 - 10:13AM JST

kchozeAug. 19, 2012 - 09:02AM JST

The effects of raising taxes on economic growth are vastly overrated by some. I don't think there is any concrete evidence for it. Certainly some of the countries with the best economic growth of the last two decades have been Scandinavian countries where taxes are very high, they didn't seem to hurt them too much.

They have had high taxes for a long time, Japan has not. Just look at the last two times the tax was raised, more than 4 point drops in GDP both times.