"Just because it's made once doesn't mean it's an eternal truth"
"Opposed to lowering inheritance tax rates... exemption thresholds should be raised"
Lee Jae-myung, who was elected as the new leader of the Democratic Party of Korea, spoke about the financial investment income tax (Geumtu Tax), comprehensive real estate tax (Jongbu Tax), and inheritance tax, saying, "In a party with more than 170 members of the National Assembly, it is natural that opinions on policies may differ," and added, "We must come up with the optimal plan."
Lee was re-elected as leader at the 1st Regular National Party Members' Convention (Party Convention) on the 18th. After the convention ended that day, he met with reporters and addressed the internal 'tax dispute' within the party. He said, "Differences of opinion on policy issues within the party are evidence of a healthy party," and added, "In the early discussions, there may be positions such as postponement, abolition, or enforcement, but these points should be considered in light of the current situation and the expected realities of the future to create the optimal plan."
Lee Jae-myung, the elected leader of the Democratic Party of Korea, is greeting party members after delivering his acceptance speech at the '2024 Democratic Party of Korea 1st Regular National Party Members' Convention' held on the 18th at KSPO Dome, Olympic Park, Songpa-gu, Seoul. Photo by Kang Jin-hyung aymsdream@
He also stated, "Just because something is created once does not mean it is an eternal truth; it can be revised as needed." Lee had previously hinted at postponing and adjusting the limits of the Geumtu Tax and easing the Jongbu Tax during candidate debates for the party leadership.
Regarding inheritance tax, he said, "I oppose lowering the inheritance tax rate," arguing that "it would amount to a tax cut for the ultra-wealthy." At the same time, he suggested, "On the other hand, taxes should not make life difficult for the middle class," and proposed, "raising the spouse deduction amount and the standard deduction amount slightly." Furthermore, he explained, "There should be no cases where someone owning a single house is forced out of it because of inheritance tax," and added, "We want to fix these unreasonable aspects."
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