The Park Geun-hye administration in South Korea carried out a tax reform in 2015, converting income deductions into tax deductions, leading to an increase in taxes for the upper class. The Democratic Party, known for advocating tax increases for the rich, has not met expectations for comprehensive tax reform under the Moon Jae-in administration. Lee Jae-myung, a representative of the Democratic Party, initially advocated for tax increases but has recently shifted towards tax cuts, suggesting a change in the party’s stance.
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Auto-posted at: 2025-03-12 21:01:28