Wall Street Journal (July 10)
2010/ 07/ 12 by jd in Global News
Japan’s election results delivered a clear message from unhappy voters: “no tax hikes, please.” Had Prime Minister Naoto Kan stopped with his “idea of slashing Japan’s corporate-tax rate, the highest in the developed world, to attract investment,” the results of the election might have been different. Instead voters were “revolted” by his subsequent call to double the current 5% consumption tax “when government spending remains out of control and economic growth is weak.”
