Shift in pension resources to tax means 3-way boosts in sales tax

Monday 19th May, 11:50 PM JST

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4 Comments

Scrote at 08:30 AM JST - 20th May

I'm sure we'll end up paying both increased consumption taxes and increased pension premiums. It is extremely unlikely that they would abolish the monthly premiums. The LDP weasels are already saying that increased consumption taxes should also be used for other purposes (construction/bribes), making it "impractical" to abolish pension premiums.
tkoind2 at 09:30 AM JST - 20th May

Fact: Japan needs more people working and paying taxes. Fact: Japan is still not open to the immigration necessary to achieve this. Fact: Japan's economy has been sustained largely by household spending for years. Fact: 18% consumption tax will end this support and cause recession, unemployment and a spiral of serious consequences that will make Japan even less economically desirable.

Difficult times are coming as long as the corrupt and incompetent LDP are in power and voters too disinterested or too daft to use their power to demand change. We foreigners can escape to home when it gets too bad here, but Japanese... they cannot so easily move. So they had better start to take a real interest in the political and economic future of this country.
cleo at 10:48 AM JST - 20th May

The rate will rise to 11% in fiscal 2009 if the government pays the uniform pension benefits to all pensioners regardless of any past failure to pay premiums.

So people who chose not to pay the pension premiums will get the maximum basic pension, and those who were daft enough to pay the premiums all those years will get no more pension than the slackers - and have to pay extra taxes to subsidize the slackers??

That surely can't be right.
Hughgarse at 01:42 PM JST - 20th May

thank God I get paid in Hong Kong.

18%?? thats a ridiculous jump from 5.