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Wall Street Journal (October 2)

2013/ 10/ 03 by jd in Global News

The rise in Japan’s consumption tax is an unwelcome return to the old “tax and spend” playbook. Of the estimated $88 billion in revenue, over $50 billion is marked for spending as stimulus. “More rapid and durable economic growth is the only escape from Japan’s self-constructed fiscal trap. Mr. Abe still has a chance to rescue his economic program with a new reform plan, the long-awaited ‘third arrow.’ But with his tax increase he is creating another headwind to overcome.”

 

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