Lee "Stock Market Is Too Difficult"
Innovation Party "Questions Basic Income Policy"
On the 4th, the Party for National Innovation criticized Lee Jae-myung, leader of the Democratic Party of Korea, for expressing his stance on abolishing the financial investment income tax, calling it "disappointing."
Hwang Un-ha, floor leader of the Party for National Innovation, held a press conference at the National Assembly communication office in the afternoon and said, "How does Lee Jae-myung, whose representative philosophy is the basic income policy, plan to promote it, and how does he intend to secure the 13 trillion won budget required for the livelihood recovery support fund?"
Earlier that day, Lee stated at the Supreme Council meeting, "I have agreed to the abolition of the financial investment income tax pushed by the government and the ruling party," explaining the decision by saying, "In principle and value, it would be right to enforce (the financial investment income tax) even if it involves pain, but the current stock market is too difficult."
Floor leader Hwang pointed out, "Recently, a politician from the ruling party evaluated Lee as beginning to look 'presidential,' but abolishing the financial investment income tax, which was introduced through bipartisan agreement, without even implementing it, is not the attitude of a presidential politician."
Lee Jae-myung, leader of the Democratic Party of Korea (right), is visiting Cho Guk, leader of the Cho Guk Innovation Party, at the National Assembly on the 21st. Photo by Kim Hyun-min kimhyun81@
He added, "Is the world the Democratic Party wants to create one that turns a blind eye to capital gains while leaving an irrational tax system as it is? With tax revenue alarms ringing due to large-scale tax shortfalls for two consecutive years and the securities transaction tax also being abolished, are they now planning to abolish the financial investment income tax as well?"
The Innovation Party stated, "The lives of ordinary people are in dire straits, self-employed businesses are closing one after another, and young people have lost their will to find employment," and criticized, "At a time when the role of finance is important, if the leader of the main opposition party joins the government and ruling party in pushing for tax cuts, who will protect the livelihood of the people?"
Floor leader Hwang said, "The 'scholarly problem awareness and merchant's sense of reality' spoken of by former President Kim Dae-jung did not mean that principles can be broken when situations are difficult," and added, "We urge Lee to reconsider his stance on the financial investment income tax, and the Party for National Innovation will do its best to ensure the implementation of the financial investment income tax."
The Progressive Party also stated in a commentary that day, "What is causing confusion in the stock market is not the introduction of the financial investment income tax but the uncertainty of economic policy," and argued, "The Democratic Party should reconsider its stance on abolishing the financial investment income tax even now."
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