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Tax Burdens Dwarf Income Increases: Legislative Report

Written: 2003-10-28 00:00:00Updated: 0000-00-00 00:00:00

Individual tax burdens are far outpacing income increases. That's according to a report filed by a lawmaker of the opposition Grand National Party.

Representative Lee Hahn-koo said the gross domestic product grew by about 34 percent between 1998 and last year while taxes increased by almost 60 percent.

During the four-year period from 1998 to 2002, the individual tax rate increased by three point six percent to 22 point seven percent ... one of the highest rates in the world.

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