August 27, 2014

Can Korea Tax Itself to Prosperity?

William Pesek, Bloomberg

The Associated Press

For a supposed conservative, South Korean President Park Geun Hye is considering a shocking proposal -- taxing companies for having too much money. She wants to slap a 10 percent levy on excessive cash piles, hoping that companies such as Samsung will instead choose to spend the money on higher wages and new investments to aid the flagging economy. It's a great idea, and one that some of Park's peers in Asia should consider -- including Japan's Shinzo Abe.

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TAGGED: Park Geun-hye, Taxes, South Korea

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