The Japanese government wants to raise sales taxes twice before 2015, doubling rates from 5 percent today to 10 percent, according to the Wall Street Journal.
The Journal reports that Japanese officials are short half the dollars they want to spend this year. Doubling the sales tax isn’t even enough to close the gap.
The Happiness Realization Party and the Tokyo Tea Party – an American import – oppose the tax.
If Connecticut and many other states don’t get their finances in order, in the future we will be left with similarly difficult decisions.
It could happen here – Archive: