Yeo "Ruling party stubborn on easing inheritance tax for middle class... Are they only spokespeople for the ultra-wealthy?"

Democratic Party Criticizes Kwon Seong-dong's Remarks on Inheritance Tax Proposal
"Is the People Power Party Only Representing the Ultra-Wealthy?"
Calls for Middle-Class Relief, Rejects Top Tax Rate Cut for the Rich

The Democratic Party of Korea on the 2nd fired back at Kwon Seong-dong, the floor leader of the People Power Party, who criticized Lee Jae-myung's claim to expand the inheritance tax deduction limit, saying, "Is the People Power Party only a spokesperson for the 955 ultra-wealthy?"

Yonhap News

Spokesperson Hwang Jeong-a said in a written briefing that day, "As of 2022, only 955 people out of the entire population were subject to the highest tax rate of 50%. Are these the only people considered citizens by the People Power Party?" She added, "Why do they start with criticism and throw tantrums when we suggest easing the tax burden on the middle class by expanding the inheritance tax deduction limit?"

Lee had previously argued that the inheritance tax deduction limit should be adjusted to ease the tax burden on the middle class. However, he opposes the People Power Party's push to lower the top tax rate from 50% to 40%.

He criticized, "No matter what happens, is the top priority of all policies tax cuts for the ultra-wealthy?" and said, "It is outrageous how the People Power Party shamelessly keeps calling for tax cuts for the rich even after emptying the country's coffers through such cuts."

He continued, "Wasn't the People Power Party the party obsessed with elections?" and pointed out, "They made countless promises they wouldn't keep during the last general election, such as 'When the cherry blossoms bloom, Gimpo becomes Seoul,' and now they blame the opposition, which is absurd." He then raised his voice, saying, "It is Kwon Seong-dong and the People Power Party who should show a progressive stance for the country and its people."

On the same day, Floor Leader Kwon said on Facebook, "(Lee) is now mentioning inheritance tax relief solely for election purposes," adding, "His intention is to appease the angry middle class and maintain the punitive top tax rate to gain votes from the left-wing support base."

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