KOR
▲ People Power Party Floor Leader Chung Jeom-sik
People Power Party Floor Leader Chung Jeom-sik criticized the real estate tax system reform plan announced by the Lee Jae-myung administration, calling it "in short, a 'declaration to drop a tax bomb.'"
Writing on social media today (August 4), Floor Leader Chung stated, "This is the worst tax hike, choosing to simultaneously strengthen both holding taxes and transaction taxes while ignoring the Organization for Economic Cooperation and Development (OECD) recommendation that higher holding taxes should be offset by lower transaction taxes."
In particular, regarding the increased burden of comprehensive real estate taxes and capital gains taxes on high-priced homes and single non-residential homeowners, he expressed concern, saying, "This is effectively a punitive tax increase, and the burden will ultimately be passed on to jeonse and wolse [lease and monthly rent] prices, spreading economic pressure onto ordinary citizens."
Floor Leader Chung pointed out, "While 'presidential candidate Lee Jae-myung' made pledges to ease real estate loan regulations, 'President Lee Jae-myung' has deepened the freeze on property listings through high-intensity loan regulations. Similarly, while 'candidate Lee Jae-myung' pledged to ease reconstruction and redevelopment regulations, 'President Lee Jae-myung' has expressed a negative stance toward reconstruction and redevelopment."
He continued, "Candidate Lee Jae-myung vowed not to control housing prices through taxes, yet President Lee Jae-myung has chosen a tax bomb. With this, all of candidate Lee Jae-myung's promises have collapsed."
Floor Leader Chung stated, "Even former President Moon Jae-in did not make a 180-degree turnaround in stance to the extent of breaking campaign promises like this," adding, "A tax bomb administration that deceives the public will inevitably face judgment from the people."
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
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