A small group of small business owners protested the increase in minimum wage to a little under $8 per hour. They say restaurants and other small business cannot afford the increase and will let employees go.
Conglomerates, the conglomerate owners' family, relations, and franchises all have restaurants, retail outlets, and other businesses that compete with "small business owners". This is the main reason for the plight of "small businesses", not wage increases. Also the number of employees employed by the conglomerate, wealthy and franchise related companies probably greatly outnumber the number of employees of actual "small business owners". Reducing minimum wage will benefit the conglomerate and franchise affiliated companies much more than actual "small business owners". Why increase wealth disparity?
I also know many small business owners that are very wealthy, multimillionaires. In some districts, main shopping areas, and rich neighborhoods, almost all of the small business owners are millionaires. There is an old lady in my neighborhood who runs a small very run down beauty salon on her own with no employees. Outwardly, she seems to be poor, but actually she owns the most real estate in my neighborhood. She owns several buildings.
The media portrays most small business owners as poor mom and pop stores, just barely eking out a living. That is definitely not the case. For many, business is not great, but they have already accumulated so much wealth that it doesn't matter that much.
No mention of this in Korean media. They only concentrate on giving negative associations to progressive or liberal policies trying to prevent conglomerates and the wealthy from rapidly increasing their power and wealth, at the expense of small businesses and normal Korean citizens.
Musical enjoyment seems to be God given. There is justice in the world!
Thursday, August 9, 2018
Wednesday, August 8, 2018
Korean conglomerates promise investment and jobs
Korean conglomerates announced that they "plan" to invest $400 billion and create jobs.
I heard these promises many times before for over a decade, but they were mostly not kept. Most Korean media report on the promises, but not when the promises are broken. Why?
Let's see what happens.
Chosun Ilbo: Samsung Promises Massive Investment and Job Creation
Former President Myungbak Lee made a campaign promise to donate all his money to charity. He set up a foundation where his close associates were and are employed. Many went to jail. This foundation does not have to publish where and if they used any money for charity. The foundation has not offered any proof, so far, that any money was spent on charity. Yet, there is no mention in the media about this. If it were a progressive or liberal president that made the promise and set up a foundation instead, then all hell would break loose.
The best way to increase jobs is to legalize pot and keep the conglomerates out. Korea should break away from relying on business conglomerates which only care about profit.
I heard these promises many times before for over a decade, but they were mostly not kept. Most Korean media report on the promises, but not when the promises are broken. Why?
Let's see what happens.
Chosun Ilbo: Samsung Promises Massive Investment and Job Creation
Former President Myungbak Lee made a campaign promise to donate all his money to charity. He set up a foundation where his close associates were and are employed. Many went to jail. This foundation does not have to publish where and if they used any money for charity. The foundation has not offered any proof, so far, that any money was spent on charity. Yet, there is no mention in the media about this. If it were a progressive or liberal president that made the promise and set up a foundation instead, then all hell would break loose.
The best way to increase jobs is to legalize pot and keep the conglomerates out. Korea should break away from relying on business conglomerates which only care about profit.
Tuesday, August 7, 2018
Korean Economy Is Doing Great For The Rich
A lot of Koreans complain the economy is in shambles because they believe what they hear and read in the media. Actually, the wealthy are doing great. The divide between the rich and poor is growing, and the rich control an ever increasing share of the wealth in Korea.
Regular Koreans do not earn $29,000 per year, which was the per capita income for Korea in 2017. Yet, a large number of them support the conservative party which is pro-big business and pro-rich.
This is because regular Koreans are not doing so well, so it seems the economy is bad for them. the conservatives, businesses and most media pick up on this and state that progressive policies are ruining the Korean economy. Most regular Koreans used believed this, but fewer and fewer are believing.
Due to the corruption of former presidents Keun-hye Park and Myung-bak Lee (spying on and blacklisting citizens, framing innocent people as North Korean spies, making deals with Korean courts for rulings against labor unions, etc.), support for the conservative party has decreased, in spite of the fact that most Korean media has mounted a vehement campaign against progressive and liberal ideals, calling it socialism and pro-communist. Pulling out all the dirty tricks and name calling. It used to work in the past, but not so much nowadays. They make it a really big deal, if President Moon's popularity falls a little and state it is because of his bad handling of affairs. As if that was BIG NEWS! What travesty!
I hope that common Koreans continue to not listen to the rich and most Korean media. Most media try to taint anything and anyone that is progressive or liberal with negativity.
I hope regular Koreans come to realize that they are suffering due to conservative policies and the wealthy hoarding all the money while treating common Koreans as second class citizens and acting like dictators.
Regular Koreans should boycott greedy enterprises and VOTE for people who will stand up for them. But alas, it seems most don't care.
Regular Koreans do not earn $29,000 per year, which was the per capita income for Korea in 2017. Yet, a large number of them support the conservative party which is pro-big business and pro-rich.
This is because regular Koreans are not doing so well, so it seems the economy is bad for them. the conservatives, businesses and most media pick up on this and state that progressive policies are ruining the Korean economy. Most regular Koreans used believed this, but fewer and fewer are believing.
Due to the corruption of former presidents Keun-hye Park and Myung-bak Lee (spying on and blacklisting citizens, framing innocent people as North Korean spies, making deals with Korean courts for rulings against labor unions, etc.), support for the conservative party has decreased, in spite of the fact that most Korean media has mounted a vehement campaign against progressive and liberal ideals, calling it socialism and pro-communist. Pulling out all the dirty tricks and name calling. It used to work in the past, but not so much nowadays. They make it a really big deal, if President Moon's popularity falls a little and state it is because of his bad handling of affairs. As if that was BIG NEWS! What travesty!
I hope that common Koreans continue to not listen to the rich and most Korean media. Most media try to taint anything and anyone that is progressive or liberal with negativity.
I hope regular Koreans come to realize that they are suffering due to conservative policies and the wealthy hoarding all the money while treating common Koreans as second class citizens and acting like dictators.
Regular Koreans should boycott greedy enterprises and VOTE for people who will stand up for them. But alas, it seems most don't care.
Saturday, August 4, 2018
Korea's GDP Per Capita Was $29,891 In 2017
Korea has the 11th largest economy in the world.
Why is most of the Korean media complaining that raising the minimum wage to a little under $8 an hours going to wreck small businesses and the economy?
Why are they not complaining about unfair labor laws and the growing divide between the rich and poor?
I supposedly live in a half million dollar apartment (condominium). It is very small and run down. I pay about $400 a year in property tax. The extremely wealthy with multi-million dollar homes and buildings pay about the same rate as I do.
As I stated before, I would gladly pay much more in property taxes, if the rich pay their fair share. Supposedly, raising property taxes will cause property values to plummet and ruin the economy according to most Korean media.
Property taxes are between 0.15% to 0.50%, but are levied on the official property value which is about half of the real value. So, in effect it is about 0.08% to 0.30%.
Why is most of the Korean media complaining that raising the minimum wage to a little under $8 an hours going to wreck small businesses and the economy?
Why are they not complaining about unfair labor laws and the growing divide between the rich and poor?
I supposedly live in a half million dollar apartment (condominium). It is very small and run down. I pay about $400 a year in property tax. The extremely wealthy with multi-million dollar homes and buildings pay about the same rate as I do.
As I stated before, I would gladly pay much more in property taxes, if the rich pay their fair share. Supposedly, raising property taxes will cause property values to plummet and ruin the economy according to most Korean media.
Property taxes are between 0.15% to 0.50%, but are levied on the official property value which is about half of the real value. So, in effect it is about 0.08% to 0.30%.
Corporate tax is 10% on income under about $180,000, and 20-22% for amounts over $180,000.
Businesses get preferential electricity rates with regular consumers getting shafted with up to triple rates for peak periods. Consumer rates are much higher than business rates.
I could go on and on.
Joongang Daily: Tax changes for next year narrow the income gap
Editorials complaining about wage increases, reduced working hours and other reforms. Very similar to the tone on TV media, very pro-wealthy.
Joongang Daily: Runaway government
Korea Herald: Substantial, not conceptual, growth
Friday, August 3, 2018
Sending Drug Users To Jail Only Makes Things Worse
Drug users are not criminals. Many rich conservatives abuse prescription drugs, but they don't go to jail. I knew some corporate CEOs that did this. None ever got arrested for abusing prescriptions. Unlike some of my pot using friends.
Time: Want to Win the War on Drugs? Portugal Might Have the Answer
In Korea, conservatives regard pot users as liberals and will do anything to stop pot use, including jailing people. Seems like the US. Using drug laws to suppress freedom.
Time: Want to Win the War on Drugs? Portugal Might Have the Answer
In Korea, conservatives regard pot users as liberals and will do anything to stop pot use, including jailing people. Seems like the US. Using drug laws to suppress freedom.
US Companies Doing Great, Wages Are Not
Sounds familiar. Companies doing well with wages stagnating seems to be the new norm.
Companies seem to be rewarding shareholders and management with ever increasing payoffs, and hellbent on keeping wages down.
Korea already tried tax cuts for the wealthy and businesses several times in the past. It only exasperated the divide between the rich and poor.