It is inevitable that political parties made decisions according to partisan strategy and self interest. About important issues such as the people's welfare and economic stability, however, they should be able to open their hearts and work for the greater good. That is what "the politics of the people's welfare" and "the politics of co-existence" is all about. One particularly notes the profound change of attitude by the GNP, since it has had reservations about improving the property tax. Maeng said there "should be taxation severe enough to function as punishment for those who own more than two or three homes." If his comments become GNP policy after discussion the party's real estate committee, then you can be sure the GNP will have found a way to move a step closer to the people as a party that exists to produce policy.
Various studies show that the problems of speculative real estate investment by persons owning multiple homes has reached the point where it can no longer be ignored. Since 2000 six of ten homes in Seoul's Gangnam neighborhood are owned by individuals owning three homes. The market is really that warped. A Research Plus survey commissioned by the Hankyoreh points clearly shows the country's opinion. Some 88 percent of respondents want to see stronger property taxes. You have to assume such public opinion has come together not because people just can't stand to see multiple home owners amassing massive wealth through speculative real estate investment, but rather because of the desperate need for stable housing prices.
If the ruling and main opposition parties achieve agreement and make the property tax system what it should be, then clearly there will be no place left to stand for the people with excessive home ownership to engage in tax resistance using the increased tax burden for the middle class as an excuse. The reason much of the bite was taken out of the initial comprehensive real estate tax structure plan was because the politicians confused tax resistance from multiple home owners with tax resistance from the middle class, and some of those in positions at in Uri had an especially difficult time differentiating that. For that reason Uri, too, needs to make its stance clear to itself about at least the work of improving the property tax structure, so that there does not have to be any more of the same old trial and error.
The Hankyoreh, 13 July 2005.
[Translations by Seoul Selection (PMS)]