Drastic measures to solve the budget deficit in Japan

The budget deficit is one of the biggest problems in our society because this is the concern not only for our generation but also for that of the future. We need to take measures on this issue not to be blamed by future generation. Currently, we have 770 trillion yen for national deficit; it increases 100 thousand yen per second. It’s very difficult to reduce it. However, I’d like to shed light on two measures on the budget deficit.

Firstly, to increase tax revenue. I deeply understand this is painful and many people lambaste this aggressive measure. But this is necessary structural reform. We need to reset the deficit as the first priority. Money resources are incomes by increasing tax of higher income group and corporate. People who have 3 million yen revenue and below are exempted to pay tax. It’s unfair in democratic society. We should collect taxes from them. Small amount is good enough. It’s better than nothing. I believe that increasing tax is strait forward way and it brings benefits that more than compensate for the pain.

Secondly, we need to increase the transparency of how tax revenues are spent in parallel. If we prove of little value to the nation, we should categorically cut the expense. For example, expense of military exercise. It costs 4 trillion yen for military expenditures every year against 40 trillion yen for tax revenue. It makes up 10%. Surprisingly, we need 200 million yen to launch just one missile. What a waste it is!We need to stop inefficiently using tax now.

In conclusion, we need to take concrete measures on the deficit not loose national power or competition in the international market.