“Why is the Yun Seok-yeol government trying to cut corporate tax? Did he ask the big companies to come and cut it?”
On the 5th, Rep. Seo Young-gyo of the Democratic Party of Korea asked Minister of Strategy and Finance Chu Kyeong-ho during the audit of the Ministry of Strategy and Finance held at the National Assembly.
To this, Deputy Prime Minister Choo Kyung-ho replied, “It is a proposal not only from the business community, but also from experts and international organizations.”
Rep. Seo said, “Did you say it was a proposal from experts and international organizations?” “A large corporation that works and makes money in the field did not ask for a corporate tax cut. When corporate tax comes in, it can be used well for the people, so why are you trying to cut it?” he said.
When Deputy Prime Minister Choo replied, “I want to make a bigger contribution,” Rep. Seo said, “The company’s internal reserves in 2009 were 72 trillion won, 94 trillion won in 2010, and 165 trillion won in 2011. Why is the MB government copying the outdated dripping effect and the unverified dripping effect?” he asked.
Assemblyman Seo continued, “If 30 trillion won of local currency is issued, 27 trillion of the 30 trillion won is paid by the people. 1 trillion won by the state and 2 trillion won by local governments. If 30 trillion won is circulating in the market, 3 trillion won will be collected in national tax and value-added tax. Why is the budget of the common people cut when all 30 trillion won is not paid by the state?”
Then he said, “If large corporations cut it a little, I’ll use it for a win-win fund. Did you say something like this or not?” “The big corporations are doing well, and they say that we will pay 90% of the local currency to buy them, but don’t they do it? The government is capable of giving it back. Yet, the Yun Seok-yeol administration cuts taxes for the first-rich, cuts taxes when they don’t want it, and cuts out the budget of the common people.
In particular, when Rep. Seo pointed out that the economy was the cause of President Yoon’s recent drop in approval rating to 24%, Deputy Prime Minister Choo Kyung-ho said, “Recently, in a survey on the pros and cons of property tax and corporate tax requested by Gallup in the National Assembly Speaker’s Office, more people are in favor of lowering the corporate tax, and lowering the property tax. There were more,” he replied.
