Japanese Businesses Agree to Cut Tax Increases to Help Recovery

Posted on March 28, 2011 by


Japan’s top business lobby gave the government the green light to scrap a planned cut in the corporate tax rate as the nation grapples with its worst crisis since World War Two.  [Read entire article in Yahoo!News]

Japan only has 5% unemployment rate, the lowest income inequality, healthcare for all its people and is one of the world’s leading exporters.  It scores high on life expectancy, low on infant mortality, is at the top in numeracy and literacy, and is low on crime, incarceration, homicides, mental illness and drug abuse. It also has a low rate of carbon emissions, doing its part to reduce global warming.

The Japanese business community apparently also recognizes that they have a moral responsibility to the communities from which they derive their wealth. A lesson that is obviously not taught in American business schools.

Take heed corporate America. Without the people who do the work, and buy your products and services, there is no wealth.  And as Bob Herbert warned in his NYTimes article Losing Our Way:

“When the most powerful country ever to inhabit the earth finds it so easy to plunge into the horror of warfare but almost impossible to find adequate work for its people or to properly educate its young, it has lost its way entirely.”

Posted in: 99ers