Monday, June 23, 2008

LDP may cut corporate taxes and increase personal taxes

And they are going to do this in part to encourage more foreign investment into Japan. They are also going to do this while sticking to the goal of balancing the budget by 2011. At least that is what Bloomberg is reporting.

After all of the roadblocks that Japanese companies and the Japanese government have thrown up to restrict foreign investment, now they are going to cut taxes on the folks who have blocked the investment in order to attract it? I understand. And with the Fukuda and the LDP talking about how the consumption tax increase cannot be delayed any longer, corporate taxes will be cut. Naturally, this will result in increased profits for companies, thus more investment, more jobs, and higher pay for workers.

Watch for the public to rise up and throw the bums out. And watch. And wait. And watch. And wait. And ...

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