Economics
Why Japan’s 8% Tax Mauled Economy as Europe Tolerates 20%
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Japanese Prime Minister Shinzo Abe is discovering that haste makes waste.
Trying to double his nation’s sales tax to 10 percent over an 18-month period has resulted in the fourth recession since 2008 and the need to postpone the increase’s second part planned for next October. With an election now pending, the levy may be on hold at 8 percent until 2017.