Under-25s to be taxed 40% of income due to spike in welfare spending: expert
Young people born in 2000 and after will have to pay 40 percent of their lifetime income as tax, unless the current welfare-heavy fiscal spending is drastically reformed, according to a report by a noted economist, Wednesday. Their lifetime per capita tax payments will exceed 1.2 billion won ($898,000).
Source: koreatimes.co.kr
