In order to combat rising prices of residences in Korea, the Moon administration and ruling party raised property taxes and the base rate that properties are appraised for tax purposes, gradually.
This is the second year of the gradual property tax increases. The rich people and companies owning two or more residences, or one multi million dollar residence, were warned in advance of the tax increases and had many chances to sell their properties (some own hundreds of apartments).
The tax notices will be sent out, or have already been sent out. Now, there are a lot of rich people really pissed! The news media has significantly intensified efforts to blame everything on the Moon administration and ruling party, or try to frame them as inept and corrupt.
I can imagine my rich real estate speculating acquaintances reaction to their tax bills. They now have to pay about three times more than in the past. They can afford to pay, but they must be screaming bloody murder, calling people commies, and mumbling obscenities at the Moon administration and the ruling progressive party.
Most didn't sell their multiple residences. If they could, they gifted some residences to their children. Most are waiting for the conservative party to win the National Assembly or Presidential elections and rescind the tax increases.
My property taxes have not gone up, I still pay about six hundred dollars a year on a supposedly million dollar cramped old apartment.
A lot of Koreans are worried about the rising real estate prices. A lot of commercial space is for rent nowadays, but commercial real estate prices will not fall. The rich have a monopoly on the real estate market, from my perspective.
The government says the tax increases affect only the top 2% of residence owners.
Yet, about 44% of Koreans are support the conservative party's presidential candidate (party of the rich, former prosecutors, and powerful), while only 37% support the ruling party's candidate (tax the rich, need to start discussions on changing labor environment and concepts like universal basic income, LOL).
A lot of people still apparently trust the mostly conservative, and definitely lopsided opinion polls and reporting by the news media. Hopefully, they won't bother to vote. hehe.
Lavish use of subliminal messaging with the subtitles. Misleading wording, conservative party candidate's face smiling in background with positive subtitles, and such.
Last week, the poll numbers were even worse, I think it was 47% for the conservative party candidate and 30% for the ruling party candidate.
I think the stress from the coronavirus pandemic makes it hard people to recognize the good efforts of many governments.
