Song Eon-Seok: "Future Response Fund Is National Predation... Tax Reform Needed to Lower Tax Burden"

"Earned income tax should be lowered and virtual asset income tax abolished"

Eon-Seok Song, member of the People Power Party, stated on September 16, "The Lee Jae-myung administration should immediately stop its attempt to establish the Future Response Fund and move swiftly to revise tax policy to lower the overall tax burden on citizens, including income tax for workers."

Song made these remarks in a statement posted on his social network service (SNS) account that day. He said, "The taxes paid by the people are not funds for the government to simply rule," and added, "If the state collects more than necessary, its responsibility is to first reduce the burden on the people."

Eon-Seok Song, member of the People Power Party

Song expressed concern, saying, "The government is planning to allocate the increased tax revenue, which came as a result of the unexpected semiconductor boom, to the Future Response Fund instead of using it to pay down national debt or lower taxes." He continued, "Accumulating the Future Response Fund to increase the amount of money available for the ruling administration is effectively a form of state plunder." He also pointed out, "Next year, national debt will reach KRW 1,519.8 trillion, and while tax revenue is expected to increase by KRW 194.2 trillion, national debt will still rise by KRW 106 trillion."

Song stressed, "An increase in tax revenue should not serve as an excuse to expand the government's fiscal resources," and insisted, "The additional taxes paid by the public must first be used to reduce national debt and lower the tax burden on the people." He specifically argued that "the increased tax revenue should first be considered for returning to the people through income tax reductions and refunds." He also called for "the abolition of income tax on virtual assets."

This content was produced with the assistance of AI translation services.