Cho Kuk blasts government, Democrats over property-tax U-turn, saying it protected only the top 1%

Cho Kuk accused the Democratic Party of Korea and the government of protecting only the top 1% by reversing a plan to lower the basic deduction for nonresident single-home owners under the comprehensive real estate tax to 900 million won.

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What the Democratic Party of Korea and the government protected was the interests of the top 1%.

Writing on Facebook on the 2nd, Cho, head of the Cho Kuk Innovation Policy Research Institute, said the government had accepted the Democratic Party's political demand just 29 days after announcing its tax reform plan. "What the Democratic Party of Korea and the government protected was the interests of the top 1%," he wrote.

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Do you think nonresident owners of expensive single homes, whose tax burden has been reduced, will support the Democratic Party and the government out of gratitude for this retreat?

Cho questioned whether nonresident owners of expensive single homes, whose tax burden fell after the reversal, would support the party and government out of gratitude. He warned that the U-turn could instead cost them the support of voters who had backed them.

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This U-turn could end up losing only the hearts of the people who gave their votes.

The criticism followed another attack on Lee Jae-myung and the government the previous day. Referring to Lee's suspended public official election law trial after the Supreme Court sent the case back, Cho said that, unless the Supreme Court's legal reasoning was overturned again, Lee was highly likely to receive a guilty verdict when the second trial resumes after his presidential term.

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Unless the Supreme Court's legal reasoning is overturned again, there is a very high possibility that President Lee will receive a guilty verdict in the second trial that resumes after his term.