[2024 National Audit] Oh Se-hoon: "Progressive Parties' 'Wealthy Tax Cut Justice' Differs... Corporate Tax Is Not a Wealth Tax"

Mayor Oh Leads Forum as Keynote Speaker: "No Evidence of Trickledown Effect"... Rep. Yong Hye-in Asks, "Do You Agree?" Mayor Oh Emphasizes, "Corporate Tax Is Not a Wealth Tax"

Seoul Mayor Oh Se-hoon responded to a question about his stance on tax cuts for the wealthy by saying, "The definition of tax cuts for the wealthy differs between progressive parties and myself."

Mayor Oh made this remark on the 15th during the National Assembly's Public Administration and Security Committee's audit held at Seoul City Hall, in response to a question from Yong Hye-in, a lawmaker from the Basic Income Party.

On the 15th, Seoul Mayor Oh Se-hoon attended the National Assembly's Public Administration and Security Committee's audit of Seoul City Hall held at Seoul City Hall in Jung-gu, Seoul, responding to lawmakers' questions. Photo by Kang Jin-hyung aymsdream@

Lawmaker Yong said, "Luca Chancel, director of the World Inequality Lab and keynote speaker at the recently held Seoul Didimdol Income Forum, stated that 'there is little evidence supporting trickle-down economics.' Last year, Mayor, you said at the audit that corporate tax cuts are not tax cuts for the wealthy but a means to stimulate the economy, and you were the main proponent pushing for tax cuts for the wealthy by advocating for reductions in property tax and abolishing comprehensive real estate tax at the transition committee. Do you find it difficult to agree with Mr. Chancel's view?"

In response, Mayor Oh said, "To put it simply, the very concept of tax cuts for the wealthy is different. The Democratic Party or so-called progressive parties often treat things like corporate tax as taxes on the wealthy, but that is not the case," emphasizing his point.

Additionally, Lawmaker Yong referred to the presentations by overseas panelists at the forum, saying, "The forum had a critical keynote tone seemingly directed at the ruling party and the mayor, who rely solely on the Didimdol Income brand while pursuing policies that only reinforce inequality." He added, "Looking at the forum's materials, it seems the event planning was flawed," questioning Mayor Oh.

Mayor Oh replied, "It seems you strongly sympathize with the positions of the professors and research institutes who attended the forum, but they gave quite a positive evaluation of Didimdol Income. I think that is very important," he said.

Didimdol Income, Seoul City's income security experiment, differs from universal basic income, which provides a fixed amount equally to all citizens. Instead, it supports a certain percentage of household income below the median income, providing more support to those with lower incomes. Mayor Oh has opposed the 'basic income' advocated by Lee Jae-myung, leader of the Democratic Party, and has promoted Didimdol Income as a selective support measure.