Editorial: Will Japan's $142 bil. stimulus package raise people's standard of living?
Ideas:
Not to complains or criticize but why are the high-income earners maybe getting handouts, when they really don't need them. But its seems it happens with every government, as governments have to makes compromises to get bills passed.
Most likely the subsidies are going to all people in Japan and not just one income group,which in itself is understandable but not efficient as its still government spending, which is increasing the government debt
The editorial is correct, the low-income population is the group that needs the most help with subsidies or other things, due to the constant increase of inflation in Japan.
Again its understandable if the handouts go to the elderly with income less than 1 million yen as maybe that's all they get from their pensions.
At the same time, maybe its not fair to single out the elderly who do have other forms of savings and assets, but at the same time, those in real need such as the non-regular workers, need the most help as for whatever reason, they seem to almost be discriminated against as a non-regular worker in Japan.
The non-regular workers seem to be unable to find that coveted full-time job with a good company and or they can't get that job because of other circumstances, so they have to work as a non-regular worker.
The so-called ceiling needs to be increased as it was made 30 years ago, which prices were lower and the economy in Japan was much better.
Those workers who make just above the $6.650 ceiling are the one who are hurt the most because of the inflation as maybe their income barely pays for anything in Japan today, and then add in the income they have to pay and its gets even worse for them.
Maybe yes or maybe not, but Japan used to be a country that took care of its citizens, but those days have long gone, as maybe market capitalism and Japan moving toward western-style governance practices, some of Japan's population has been left behind.
Every little bit helps but maybe even at $11.500 it might be less than good as today in Japan inflation keeps increasing and $11,500 doesn't cover much and especially if they are a married couple, with children.
Of course there might be less revenue for the Japanese government but what is important, the welfare of its citizens or worrying about the government debt when up to now, it hasn't been a major issue.
If the current account continues to increase with Japanese exporters exporting a lot, and Japanese investors investing in overseas markets, and foreign tourists continue to go to Japan at record numbers, with the Japanese yen remaining weak, that could increase the Japan current account and help with the government shortfall if they do increase the ceiling.
Yes, the LDP is prioritizing keeping their minority government afloat, as that is a given, like with most governments trying to stay in power.
Yes, its important to boost the potential of the Japanese economy, but whatever has been tried recently or the past decade hasn't really worked, and the pandemic didn't help which set back to Japanese economy, which was at the time very weak.
The challenges is maybe 70 percent of wage earners in Japan don't work for large Japanese companies that gave the largest wage increases while the small and mid-size companies didn't give large wage increases, which again, is not going to help wage earners get ahead of the inflation situation.
It seems like despite the Japanese governments attempt to balance out the regions, everything seems to focus first on Tokyo and then maybe Osaka.
But its natural that companies want to be where other companies are and where the center of government is too.
The Japanese government, for many years, has tried to use subsidies to help the Japanese economy, as even last summers tax handout of 40,000 yen didn't go very far most Japanese citizens.
And the Japanese governments attempt to support the semiconductor industry might be a little too late but of course needed.
Taiwan and South Korea are years ahead of Japan and have most of the market share in the semiconductor industry.
The Japanese government is in difficult situation now with high government debt to GDP ratio as its the highest in the advanced world at this time.
So the Japanese government has to look at the debt and at the same time to help the Japanese citizens with huge inflation situation in Japan too.
The only good thing about the debt about the Japanese government debt is its internal and not external which was the case in 2010 with Greece where most of its debt was external and owned by many different countries including the European Central Bank, so most of Japan's debt, if not all of the government debt, is owned by Japan.
Have a nice day!
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