Jisangwook: "Lee Nak-yeon's Profit-Sharing System Is Political Rhetoric to Avoid Tax Increase Debate"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] Jisangwook, head of the opposition think tank Yeouido Institute, raised suspicions that the 'profit-sharing system' proposed by Lee Nak-yeon, leader of the Democratic Party of Korea, might be a political rhetoric to avoid discussions about tax increases.

On the 13th, Jisangwook appeared on KBS Radio's 'Kim Kyung-rae's Strongest Current Affairs' and said, "Since approval ratings have dropped due to the pardon issue, I wonder if the profit-sharing system is being used as a political rhetoric to somehow change the situation."

He stated, "There is a significant criticism that it is very difficult to divide the groups that benefited from COVID-19 and those that suffered losses," adding, "Taking from those who benefited to give to the disadvantaged ultimately leads to discussions about tax increases."

Jisangwook said, "If you say you will increase taxes, it will cause dissatisfaction among the public," and added, "This can be understood in the context of former Floor Leader Yoo Seung-min's remark during President Park Geun-hye's administration that 'welfare without tax increases is a fiction.'"

Regarding the method of encouraging voluntary participation from companies, he pointed out, "There have been historical issues with voluntary donations," and "The government's statement about inducing voluntary contributions from companies, rather than individual voluntariness, can be perceived as significant pressure."

While pointing out that the profit-sharing system equates to tax increases, he agreed on the necessity of fiscal policy. Jisangwook said, "I agree that we should move towards fiscal policy rather than monetary policy," and "I hold the principle that if the social community ladder collapses, society will not be able to recover later."

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