Seeking to tackle its high debt problem, Japan's top political parties have agreed to open talks...


Seeking to tackle its high debt problem, Japan's top political parties have agreed to open talks on a controversial hike to the nation's consumption tax, a make-or-break issue for Prime Minister Yoshihiko Noda. Noda has vowed to pass the reforms in the current legislative session, with the current 5% consumption-tax rate to double by October 2015 in two stages.

Comments (4)
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    .05% off the debt.

     

    Rock and Roll boyz..
    That'll show 'em.

     

    Good luck with that.
    6 Jun 2012, 07:35 PM Reply Like
  • Ron Myers
    , contributor
    Comments (255) | Send Message
     
    Maybe they should just print instead?
    6 Jun 2012, 07:49 PM Reply Like
  • Tack
    , contributor
    Comments (16281) | Send Message
     
    Japan has existed in an almost perpetual deflationary environment. Just what they don't need is a further tax on consumption.
    6 Jun 2012, 07:57 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
     
    Jeez, that idea is dumb enough to have come out of DC instead of Tokyo.
    6 Jun 2012, 08:00 PM Reply Like
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