Abstract
Japanese conservatives and business leaders like to complain that their income taxes are too great a burden to bear, and that they have a deterrent effect on entrepreneurship. Comparison of Japanese tax rates, exemptions, and definitions of income suggest that the conservatives’ complaint is ill founded. Nonetheless, recent tax “reforms” have made the structure of the Japanese tax system more regressive than it was. A possible answer to these trends is the tax on banks imposed by the mayor of Tokyo, Shin taro Ishihara.
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