ID :
21187
Thu, 09/25/2008 - 17:45
Auther :
Shortlink :
http://m.oananews.org//node/21187
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EDITORIAL from the JoongAng Daily on Sept. 25)
yonhap - Tax tangle - A day after a revision to the real estate tax law was announced, the government and the ruling party plan to revisit it.
They decided earlier to raise the tax threshold from 600 million won ($530,000)
to 900 million won, but are now considering scrapping the plan.
That is because some Grand National Party lawmakers oppose the revision, as they
are conscious of the public view that the revision would ease taxes too much.
The Grand National Party says it will release a revised version after policy
debates and a meeting between the party and the administration. The party earlier
said it would correct the populist taxation system.
But it's the party that's now being dragged along by populism.
The revision of the law on comprehensive real estate taxes was one of the most
important pledges made by the GNP in the presidential and general elections. The
government and the GNP debated the issue several times, reached an agreement and
produced the final revision that they announced.
But even after the revision was released, the party chairman says one thing and
floor leaders of the party another and other lawmakers have different opinions,
according to their constituencies' interests.
While the GNP is discussing the new version, the Blue House and Kang Man-soo, the
minister of strategy and finance, say that the government's bill remains
unchanged.
The people don't know whom to listen to. This from a government that had an
overwhelming victory in the election and a ruling party that holds a majority in
the National Assembly.
Even though the comprehensive real estate tax was introduced on the back of
populism, it is clear that revising it wouldn't be easy at all. The
administration should have had sufficient debates in the process of revising the
law, and discussions with the party, before releasing the revision bill.
Confusion could have been avoided if they had decided to reduce the taxes
gradually on the premise that they would ultimately be integrated into property
taxes. It will be difficult to persuade the opposition and the people on the new
bill, given that the ruling party members themselves are unconvinced.
The ruling party can't faithfully play its role as the majority party, nor gain
support from the people, with a lax attitude that it can release an illogical and
unprincipled bill and then take it back in the face of opposition and criticism.
(END)
They decided earlier to raise the tax threshold from 600 million won ($530,000)
to 900 million won, but are now considering scrapping the plan.
That is because some Grand National Party lawmakers oppose the revision, as they
are conscious of the public view that the revision would ease taxes too much.
The Grand National Party says it will release a revised version after policy
debates and a meeting between the party and the administration. The party earlier
said it would correct the populist taxation system.
But it's the party that's now being dragged along by populism.
The revision of the law on comprehensive real estate taxes was one of the most
important pledges made by the GNP in the presidential and general elections. The
government and the GNP debated the issue several times, reached an agreement and
produced the final revision that they announced.
But even after the revision was released, the party chairman says one thing and
floor leaders of the party another and other lawmakers have different opinions,
according to their constituencies' interests.
While the GNP is discussing the new version, the Blue House and Kang Man-soo, the
minister of strategy and finance, say that the government's bill remains
unchanged.
The people don't know whom to listen to. This from a government that had an
overwhelming victory in the election and a ruling party that holds a majority in
the National Assembly.
Even though the comprehensive real estate tax was introduced on the back of
populism, it is clear that revising it wouldn't be easy at all. The
administration should have had sufficient debates in the process of revising the
law, and discussions with the party, before releasing the revision bill.
Confusion could have been avoided if they had decided to reduce the taxes
gradually on the premise that they would ultimately be integrated into property
taxes. It will be difficult to persuade the opposition and the people on the new
bill, given that the ruling party members themselves are unconvinced.
The ruling party can't faithfully play its role as the majority party, nor gain
support from the people, with a lax attitude that it can release an illogical and
unprincipled bill and then take it back in the face of opposition and criticism.
(END)
