Just read that the Japanese government plans to implement one of their election campaign promises: elimination of tax deductions for dependents and addition of child allowance payments. As of June 2010, I will love my tax deduction of $4,000 per year and gain a child allowance of $3,600 per year. Net loss of $400. I can live with this loss of take home cash. If my paying an additional $400 per year helps save the country, I'm all for it. But, if the extra $400 tax payment only pads the wallets of politicians, I am all against it.
I am so happy that the local Ito Yokado is offering $100 business suits. That is all I can afford now.
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