Kwon Seong-dong: "Opposition, Who Takes Responsibility for Stock Price Crash Triggered by Financial Investment Tax When You Didn't Even Take Responsibility for Real Estate?"

'Urgent Discussion on Financial Investment Tax' Held at National Assembly Library on the 25th

[Asia Economy Reporter Lee Ji-eun] As the Democratic Party of Korea shows determination to push forward with the Financial Investment Income Tax (금투세), Kwon Seong-dong, a member of the People Power Party, criticized the move, saying it is "reckless with the people's assets."

On the 21st, Kwon posted on his social network service (SNS), "The Democratic Party says they will take responsibility if the stock market crashes due to the Financial Investment Income Tax. During the previous administration, real estate prices soared and income-led growth failed, but who in the Democratic Party took responsibility?"

He added, "Even though members of the Democratic Party support postponement on their party member bulletin board, the Democratic Party is effectively sabotaging the postponement by attaching various conditions," and criticized, "stocks are already an important part of the people's assets. The Democratic Party is now bargaining with conditions on people's livelihoods."

Kwon said, "Pushing forward with the Financial Investment Income Tax at a time when stock prices are falling will be a fatal misstep that shakes the eggs from the bottom up," and pointed out, "at least when it comes to systems related to the market and assets, the childish mindset of ‘억강부약 (suppressing the strong and supporting the weak)’ must be abandoned."

He argued that the '억강부약' policy promoted by Democratic Party leader Lee Jae-myung goes against human nature and could harm the market. He said, "seeking profit and avoiding risk is human nature," and "policies that go against this nature are bound to fail. Systems without public consensus will provoke market backlash."

Kwon plans to hold an emergency forum on the Financial Investment Income Tax at the National Assembly Library on the 25th to hear the opinions of individual investors.