The carriers and some Wall Street analysts charge that the Administration is using misleading calculations of performance to justify the tax hike
-- an accusation Clinton officials adamantly deny.
The proposed sales tax hike
from 8% to 10%, scheduled for Oct 2015, is now delayed by 18 months.
It is the first time that Noda has revealed how he would have responded if he had failed to achieve his signature policy tax hike
, as he had vowed to stake his "political career" on passing the consumption tax hike
3 trillion yen ($131 billion) tax hike
plan over a five-year period in order to secure funds for reconstruction work following the March 11 earthquake and tsunami, officials said Monday.
Opponents said the cigarette tax hike
is outrageous and would hurt low income smokers and small mom and pop stores that are already struggling to make ends meet.
And while the old Arnold warned, before the special election, that if his propositions failed, a tax hike
could be the tragic result, the new Arnold seems to have made peace with that possibility.
TEPCO President Nobuya Minami handed a petition to Katayama, saying the tax hike
is unacceptable, the officials said.
Prior to the tax hike
, the deficit had been falling.
The administration's belief that a tax hike
would only exacerbate the economic disincentives of already high tax rates is a central component of their long term economic and financial strategy, yet it points to their need to forego the short term flexibility presented by a tax hike
for the longer term need to refrain from diminishing economic competitiveness.
22, 2012 /PRNewswire-USNewswire/ -- On Wednesday, the nonpartisan Congressional Budget Office (CBO) issued a dire warning that the nation's economy would be plunged into a significant recession next year unless President Obama and Congress take action to avert tax hikes
set to take effect in January-including a steep tax hike
The Finance Ministry is set to replace Administrative Vice Minister Eijiro Katsu with Yasushi Manago, who is now director general of the Budget Bureau, possibly later this month as it turns to tackle compilation of the fiscal 2013 budget following the enactment of the government's key tax hike
policy, sources knowledgeable about the plan said Saturday.
But even if a tax hike
was able to pass out of the Legislature with a two-thirds vote - unlikely due to Republican opposition - Schwarzenegger, who is staunchly against tax increases, would probably veto it.