Yoon Seok-yeol: "Universal Disaster Relief Fund? If Taxes Are Collected to Distribute, It's Best Not to Collect Them"

Former Prosecutor General Yoon Seok-yeol expressed his stance on disaster relief funds in an interview with JoongAng Ilbo released on the 14th. Photo by JoongAng Ilbo YouTube channel.

[Asia Economy Reporter Park Hyun-joo] Yoon Seok-yeol, a leading opposition presidential candidate and former prosecutor general, criticized the proposal to provide disaster relief funds to the entire population, saying, "If you are going to collect (taxes) and then (redistribute) them, generally it is best not to collect them at all."

In an interview with JoongAng Ilbo released on the 14th, Yoon responded to the question, "What do you think about disaster relief funds?" by stating, "Cash welfare should not be universal but rather targeted to specific recipients for focused support."

He added, "Taxes are a cost involved in economic activities, and when costs increase, economic activity inevitably contracts," emphasizing, "It is right to clearly define policy goals and then provide focused support by targeting specific recipients."

However, Yoon also noted that in the case of medical, educational, and elderly care services, "Expanding these nationwide from the perspective of economies of scale could create new industries."

Regarding Lee Jun-seok, the leader of the People Power Party, who faced negative public opinion within the party after reversing the agreement on providing disaster relief funds to the entire population, Yoon partially defended him, saying, "In the process of negotiating with the ruling party, which holds nearly 180 seats, you have to listen to their side as well to reach an agreement. It was probably about focusing support on small business owners who were hit hard by COVID-19."

When asked about his stance on tax increases and tax cuts, Yoon emphasized the importance of fiscal soundness. He stated, "More than tax increases or cuts themselves, it is an established academic consensus and a natural fact that countries without a key currency regard and maintain fiscal soundness as a very important indicator," and expressed the view that "there are limits to tax increases anyway."

He added, "Japan also spent enormous amounts on elderly welfare for about 20 years, which became a major factor in fiscal deficits. If our country continues like this, bankruptcy will be easy," expressing concern that "(mobilizing welfare finances) should not be like 'cutting open the goose's belly to take out the golden eggs.'"

This content was produced with the assistance of AI translation services.