I read some interesting facts about Japan - Japan has an aging population, people are living to a very good age here, birth rates are very low, so you know where this is heading :) By the year 2050 the population is expected to be approx half what it is now, so that is 60,000,000 people, my wife tells me the government is putting the GST from 5% to 15% to get the money to pay for the aging population.
Japan also has a residents tax of 10% plus income tax, when the GST goes up that will be 25% tax before you pay income tax WOW!
I have been reading on-line about how NZ has had a budget blow out and how the asset sales is not going to net as much as what was first thought, I think in NZ they will be looking at 17% to 17.5% GST soon to cover all these short falls. Time will tell but thats my prediction way before anyone else.
This is mostly likey to be the last term natioanl has in power, NZ people seem to get sick of govs every couple terms and turf them out for another party, so it may not be the nats who increase GST but one of the parties will.
Every time a new party gets in they say oh the books are far worse than what we were thought we are going to have to take drastic measures. You watch :)
Thats my take on Tax