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Japan is writing the economic textbooks. Tremendous government debt, nearly 100% total tax burden. Quantitative easing will tend to target entities in say Tokyo

Japan is writing the economic textbooks. Tremendous government debt, nearly 100% total tax burden. Quantitative easing will tend to target entities in say Tokyo. It creates an imbalance that will only get worse as people move to Tokyo to get some of that QE. Negative interest rates, they basically are giving away free money so that the economy doesn't blow up in a deflationary death spiral. This imbalance to then be fixed comes in form of another tax? The hometown tax? Worse yet, the government debt to gdp is still increasing. Debt still going up and up because they havent balanced the budget since the early 90s. https://en.wikipedia.org/wiki/Lost_Decades https://en.wikipedia.org/wiki/Lost_Decades Japan has lost 3 decades so far because of high taxes and high debt. You can't default on the debt, it's your own people who own the debt. Defaulting would mean your elderly have to go back to work. Yet it's worse... Japan has a major silver crime issue and well unspoken probable slave labour problem. The fix for Japan is so simple yet for 30 years nobody has been willing to do it.

deleted 5y ago
[deleted]
ascar 5y ago
> nearly 100% total tax burden. What kind of number is this? The debt to GDP is actually more than 200% and you will find the US also above 100%. So yes Japan has a big debt problem, but what metric are you using? > Yet it's worse... Japan has a major silver crime issue and well unspoken probable slave labour problem. Do you have any source for that? I don't know about silver crime, but the globalslaveryindex ranks Japan as literally the lowest country (167/167 [1]), 4 times better than the US and more than 6 times better than a few European countries I looked up like Germany, Austria, France or UK. > The fix for Japan is so simple yet for 30 years nobody has been willing to do it. If it's so easy, why don't you at least enlighten us instead of just stating it's easy? [1] https://www.globalslaveryindex.org/2018/data/country-data/japan/ https://www.globalslaveryindex.org/2018/data/country-data/ja...
- incomingpain 5y ago
  >What kind of number is this? The debt to GDP is actually more than 200% and you will find the US also above 100%. So yes Japan has a big debt problem, but what metric are you using? Governments like to split up taxes and tax different things. Middle east generally has no personal income tax or even a corporate tax. Yet you can't say the middle east has no taxes. You have to analyze 'total tax burden' but you also can't allow even more tricks like progressive taxes making it apples/oranges. Japan has one of the highest personal taxes in the world at 55%. You work for the government 6 months of the year. When you analyze total tax burden properly. There's only a few countries in the world whose taxes are near 100%. Basically Japanese people work for the government the entire year and don't realize it. The government sure doesn't provide everything for them to live. >Do you have any source for that? I don't know about silver crime, Something like this: https://www.telegraph.co.uk/news/2017/11/20/poverty-ageing-japanese-population-fuelling-silver-crime-wave/ https://www.telegraph.co.uk/news/2017/11/20/poverty-ageing-j... Basically in population declines or situations like world war 2 countries are currently in or soon to be in. Effectively elderly retirees are forced to go back to work. They let their skills expire. They take an ego hit being forced to work a mcjob. So they steal instead. This wasn't even marginally the problem it will be. It's something that's set it stone. >but the globalslaveryindex ranks Japan as literally the lowest country (167/167 [1]), 4 times better than the US and more than 6 times better than a few European countries I looked up like Germany, Austria, France or UK. That's literally impossible. Answer me 2 things that will tell me if it's the lowest slavery in the world. 1. What is the criminal conviction rate in Japan? 2. Is there penal labour in Japan? >If it's so easy, why don't you at least enlighten us instead of just stating it's easy? Well I touched on it. total tax burden being at 100% means you cant raise taxes. Balancing the budget is step #1. Figure out all the positive rights that need reducing or cancelling. End abenomics asap. Balanced budget amendment to the constitution. Massively increase immigration in order to dilute tax cost or debt/capita. Not sure how that'll work but probably also a later disaster for japan. 1 problem at a time. Probably need to build a free trade zone. Massive increase in tourism needed. Probably will need a massive amount of deregulation that will blow your mind. Now you have to deal with the consequences of the above options. They aren't good. Probably going to be ~25% unemployment. Probably about 4% poverty. GDP contraction of -5%/year for several years. Depression level disaster to be sure. Yet this depression is far less painful than Japan's current path.

deleted 5y ago

[deleted]

ascar 5y ago

> nearly 100% total tax burden. What kind of number is this? The debt to GDP is actually more than 200% and you will find the US also above 100%. So yes Japan has a big debt problem, but what metric are you using? > Yet it's worse... Japan has a major silver crime issue and well unspoken probable slave labour problem. Do you have any source for that? I don't know about silver crime, but the globalslaveryindex ranks Japan as literally the lowest country (167/167 [1]), 4 times better than the US and more than 6 times better than a few European countries I looked up like Germany, Austria, France or UK. > The fix for Japan is so simple yet for 30 years nobody has been willing to do it. If it's so easy, why don't you at least enlighten us instead of just stating it's easy? [1] https://www.globalslaveryindex.org/2018/data/country-data/japan/ https://www.globalslaveryindex.org/2018/data/country-data/ja...

incomingpain 5y ago
>What kind of number is this? The debt to GDP is actually more than 200% and you will find the US also above 100%. So yes Japan has a big debt problem, but what metric are you using? Governments like to split up taxes and tax different things. Middle east generally has no personal income tax or even a corporate tax. Yet you can't say the middle east has no taxes. You have to analyze 'total tax burden' but you also can't allow even more tricks like progressive taxes making it apples/oranges. Japan has one of the highest personal taxes in the world at 55%. You work for the government 6 months of the year. When you analyze total tax burden properly. There's only a few countries in the world whose taxes are near 100%. Basically Japanese people work for the government the entire year and don't realize it. The government sure doesn't provide everything for them to live. >Do you have any source for that? I don't know about silver crime, Something like this: https://www.telegraph.co.uk/news/2017/11/20/poverty-ageing-japanese-population-fuelling-silver-crime-wave/ https://www.telegraph.co.uk/news/2017/11/20/poverty-ageing-j... Basically in population declines or situations like world war 2 countries are currently in or soon to be in. Effectively elderly retirees are forced to go back to work. They let their skills expire. They take an ego hit being forced to work a mcjob. So they steal instead. This wasn't even marginally the problem it will be. It's something that's set it stone. >but the globalslaveryindex ranks Japan as literally the lowest country (167/167 [1]), 4 times better than the US and more than 6 times better than a few European countries I looked up like Germany, Austria, France or UK. That's literally impossible. Answer me 2 things that will tell me if it's the lowest slavery in the world. 1. What is the criminal conviction rate in Japan? 2. Is there penal labour in Japan? >If it's so easy, why don't you at least enlighten us instead of just stating it's easy? Well I touched on it. total tax burden being at 100% means you cant raise taxes. Balancing the budget is step #1. Figure out all the positive rights that need reducing or cancelling. End abenomics asap. Balanced budget amendment to the constitution. Massively increase immigration in order to dilute tax cost or debt/capita. Not sure how that'll work but probably also a later disaster for japan. 1 problem at a time. Probably need to build a free trade zone. Massive increase in tourism needed. Probably will need a massive amount of deregulation that will blow your mind. Now you have to deal with the consequences of the above options. They aren't good. Probably going to be ~25% unemployment. Probably about 4% poverty. GDP contraction of -5%/year for several years. Depression level disaster to be sure. Yet this depression is far less painful than Japan's current path.