Thanks for all your comments. Judging by the readers of this blog, it seems that the media has been hyping this up a bit.
Mind you, there is no doubt that people (like me!) rushed to buy expensive things like houses, cars, and furniture before the tax went up, so I am sure that things will quieten down in the shops for a while. Hopefully, that will cause retailers to drop their prices in order to attract more customers.
As you all know, the problems with Japan’s economy are mostly structural, caused by a falling population. It seems to me that unless some big changes are made in Japanese society, the situation can only get worse. The government should be focussing on things like reducing the number of working hours, abolishing tenkin that drives families apart, and providing more childcare places. Instead, of course, they are just funnelling more and more money to the construction companies.
As they don’t actually have the money to do this, they are borrowing it, which means that the next generation will be hit even harder than the current one. It’s a very depressing scenario.
Anyway, here is some feedback on your comments.
I haven’t been shopping because I haven’t got any expensive stuffs that I need to afford right now.
I haven’t been shopping because I don’t need to buy any expensive things right now.
I saw some people stocked up some daily items like toilet paper and water when I went to a supermarket
I saw some people stocking up on daily items like …
I am not a big fan of indirect taxation e.g. consumption tax because the tax burden falls disproportionately on the poor,
True, but it could be made fairer by levying a higher tax on luxury goods that most people don’t need to buy.
The topic is what I assumed David would choose.
I guessed that David would choose this topic.
Anyway, it’s not a good idea to leave the current situation that the younger generation hates the older generation
Anyway, it’s not a good idea to have a situation like the current one where the younger generation hates the older generation.
If we can feel secure about our future, I think people would willingly pay the tax.
If we could, …
That’s all for today. Have a great weekend.