Wednesday, June 8, 2011

Economic Hitmen Take Aim at Japan

IMF Acting Managing Director John Lipsky wants Japan to triple its national sales tax from the current 5% level.

"In the long run, it's clear that Japan requires a process of fiscal consolidation that would eventually begin to reduce the burden of public debt relative to GDP," Lipsky told Reuters in an interview.

There can hardly be better evidence that the IMF works for the banksters and the banksters only. The last thing Japan needs now is increased taxes, much less a tripling of the sales tax, at a time it is recovering from the recent earthquake and tsunami. And Japanese residents need their funds for the rebuilding process.

1 comment:

  1. Japan needs to start selling the USA bonds that it holds and allow strengthening of its Yen against USA dollar. Then Japan will not need to raise taxes. Also because of a stronger Yen, imports will be cheaper.