Handonghun "Normalization of inheritance tax needed... Let's discuss revision"

"It Was Originally Intended Only for the Truly Wealthy"
"Doubts About Whether the Democratic Party's Push for Reform Is Sincere"

Han Dong-hoon, former leader of the People Power Party, advocated for the normalization of inheritance tax and called for discussions on legal amendments.

On the 3rd, Han posted on his Facebook, "Normalization of inheritance tax is necessary. In our country, inheritance tax was originally intended only for the truly wealthy."

He pointed out, "The taxable base determining the inheritance tax subjects has not changed even once in 30 years," adding, "As a result, it has failed to reflect economic growth and rising housing prices, becoming a tax that burdens even the middle class, which is different from the original purpose when it was created."

Han said, "The price of a newly built 30-pyeong apartment in Mapo, which was 150 million won in 1999, now exceeds 2 billion won," and "Since the taxable base has remained the same for 30 years, unlike in the past, when parents who owned just one house pass away, a large amount of tax must be paid."

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He also refuted concerns about tax cuts for the wealthy. He said, "This is about normalizing inheritance tax according to its original intent. The inheritance tax accounts for only 2-3% of tax revenue, so it does not place a significant burden on national finances."

Han criticized the Democratic Party, saying, "Due to the strong opposition from the Democratic Party, such normalization of inheritance tax has not been achieved. Until recently, even the Democratic Research Institute opposed it. Then, suddenly, Lee Jae-myung, the Democratic Party leader, advocated for inheritance tax reform. I do not know what the Democratic Party’s true intentions are."

He said, "If the normalization of inheritance tax is sincere, there is no need to hesitate. Therefore, I propose immediate discussions on amending the inheritance tax law."