Just in on the wire. The Japan Business Federation will call for a rise in the consumption tax to 10% from 5%. All I can say is this: FINALLY!!
Someone, somewhere has the guts to push for a rise in the sales tax. Japan needs to increase the tax in order to help fund social programs especially for the elderly. With a graying population, the country must address the problems of weak social services for the elderly and infirmed.
I don't mind paying higher taxes if it will help alleviate some of the problems people face in society. What I do mind is when Japanese politicians use my tax money to wine and dine their pals and trophy girlfriends.
My own recommendations;
2010: Consumption tax = 10%
2015: Consumption tax = 15%
2020: Consumption tax = 20%
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