So, can a deposit interest tax stimulate consumption?
Many experts said in an interview with the Blue Whale Financial Reporter: "No."
Guo Tao, an angel investor and financial commentator of BRTV, said that interest tax could not stimulate consumption. To stimulate consumption, the relevant government departments need to further improve or perfect the support policies for the life service industry, and issue government coupons to cultural tourism, catering, consumer electronics and other hot areas of people's livelihood, so as to enhance the enthusiasm of market consumption and promote the overall recovery of the consumer market.
Zhang Yazhi, an expert on whale platform, said that consumption, as one of the troikas of the national economy, is the main driving force for economic growth. However, in the face of the impact of the three-year epidemic, it is not simply to divide the groups into high-income, middle-income and low-income groups, and then rudely pull out the middle class and exert financial pressure to solve it. The source of stimulating national consumption lies in the increase of national real income and the positive evaluation of future income. More deeply, it is necessary to increase entrepreneurial opportunities, employment opportunities and career opportunities, use policies to help enterprises develop, and let the money of society, enterprises and people actively circulate.
Zhou Di, a national science and technology expert of the Ministry of Science and Technology and a senior engineer of Housing Finance Technology, believes that the most important thing to stimulate consumption is to cultivate a complete consumption system, enhance the value of consumer goods, improve the quality of supply, and make consumers willing to buy. Instead of simply collecting interest tax, it is better to cut interest rates.
An expert from a university suggested levying a high interest tax on deposits above 500,000 yuan, saying that this would reduce the willingness to deposit and boost consumption. I don't think such a suggestion is reliable. Many people agree with the expert's statement. They think that high taxes can force savings out of consumption, but in essence it is because they think that there are not many people with 500,000 deposits. Even if a high interest tax is levied, it will not harm the interests of most people.
But I don't think this problem can be seen this way. There is no basis for imposing a high interest tax on deposits above 500,000 yuan, and it will not boost consumption at all. On the contrary, it will only make people lose another safe channel to save money, and it will also have an adverse impact on the whole macro-economy.
Previous data showed that residents' savings increased by 17.84 trillion yuan in the past year. Some experts pointed out that one-third of the houses can stimulate real estate, so it is inevitable that some people will think that participating in consumption can stimulate consumption, but the problem is that the sharp increase in deposits is not because everyone has money, but because there is no place to put money. Before buying stocks, they lost a lot, even those who bought wealth management and bonds lost money. Many people can only choose to deposit. Although the bank deposit interest rate has been falling, the deposit interest rate is already very low, but at least it can still protect the capital. As a result, you are now imposing a high interest tax on people, so the roads are blocked. Do you want people?