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Feb. 3 (Asia Today) — Senior aides at South Korea’s presidential office have begun selling real estate holdings as President Lee Jae-myung intensifies his campaign to eradicate housing speculation.

Blue House spokesperson Kang Yu-jeong has listed her apartment in Giheung, Yongin, Gyeonggi Province, while Kim Sang-ho, head of the presidential press office, is selling six multi-unit houses in Seoul’s Daechi-dong neighborhood of Gangnam, a Blue House official said Tuesday.

Kang owns an apartment in Banpo-dong, Seocho District, under her spouse’s name, as well as the Yongin property under her own name. Kim jointly owns an apartment in Gui-dong, Gwangjin District, with his wife in addition to the Daechi-dong properties.

A Blue House official said Kang listed the Yongin apartment, where her parents live, and added that Kim had placed his Gangnam properties on the market some time ago.

As the two senior aides move to dispose of homes they do not reside in, attention is turning to whether similar action will follow among other high-ranking officials. Asset disclosures released earlier showed that 12 of 56 Blue House aides at the secretary level or higher own two or more properties.

President Lee has repeatedly emphasized his determination to stamp out real estate speculation since the start of the year. He has issued warnings on social media for four consecutive days, criticizing opposition parties and parts of the media while vowing to crack down on what he called “ruinous” speculative behavior.

Despite the recent sales, officials said Lee has not directly instructed aides to sell their properties.

During a Cabinet meeting Tuesday, Lee addressed criticism surrounding calls for public officials with multiple homes to sell first.

“I also think this is problematic,” Lee said. “If I tell them to sell and they do, it means the policy itself is ineffective.”

He added that the government’s goal is to create conditions that make holding multiple homes economically irrational. “We must make them conclude on their own that resolving multiple home ownership is in their interest,” he said.

Opposition pressure has also mounted. Reform New Party leader Lee Jun-seok said Monday he would directly ask ruling party lawmakers and government officials whether they plan to sell their properties by May 9.

“If they do not sell by then, the market will conclude that even policymakers themselves do not believe the policy will work,” he said.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260203010001235

ATLANTA — It is a goal spreading among anti-tax crusaders — eliminate all property taxes on homeowners.

Rising property values have inflated tax bills in many states, but ending all homeowner taxes would cost billions or even tens of billions in most states. It is unclear whether lawmakers can pull it off without harming schools and local governments that rely on the taxes to provide services.

Officials in North Dakota say they are on their way, using state oil money. Wednesday, Republicans in the Georgia House unveiled a complex effort to phase out homeowner property taxes by 2032. In Florida, GOP Gov. Ron DeSantis says that is his goal, with lawmakers considering phasing out nonschool property taxes on homeowners over 10 years. And in Texas, Republican Gov. Greg Abbott says he wants to eliminate property taxes for schools.

Republicans are echoing those who say taxes, especially when the tax collector can seize a house for nonpayment, mean no one truly owns property.

“No one should ever face the loss of their home because they can’t pay rent to the government,” Georgia Republican House Speaker Jon Burns of Newington said Wednesday.

An election-year tax revolt

These audacious election-year efforts could be joined by ballot initiatives in Oklahoma and Ohio to eliminate all property taxes. Such initiatives were defeated in North Dakota in 2024 and failed to make the ballot in Nebraska that year, although organizers there are trying again. Another initiative in Michigan may also fail to make the ballot.

“We’re very much in this property tax revolt era, which is not unique, it’s not new. We’ve seen these revolts in the past,” said Manish Bhatt, vice president of state tax policy at the Tax Foundation, a Washington, D.C., group that is generally skeptical of new taxes.

Previous backlashes led to laws like California’s Proposition 13, a 1978 initiative that limited property tax rates and how much local governments could increase property valuations for tax purposes.

The efforts are aimed at voters like Tim Hodnett, a 65-year-old retiree in suburban Atlanta’s Lawrenceville. Hodnett’s annual property tax bill rose from $2,000 to $3,000 between 2018 and 2024. He sees those figures starkly because he paid off his mortgage years ago, and he pays his taxes all at once instead of making monthly payments.

Hodnett said he is disabled and living on $30,000 a year. He is about to get a big property tax break, because seniors in Gwinnett County are exempt from school property taxes, about two-thirds of his bill. But he would love not to pay that other $1,000.

“It would be nice to be exempt from property taxes,” Hodnett said.

Will there be replacement revenue?

The question is whether local governments and K-12 schools should be expected to cut spending, or whether they will be allowed to make up revenue from some other source.

“I think the complete elimination of the property tax for homeowners is really going to be very difficult in most states and localities around the country, and undesirable in most places,” said Adam Langley of the Lincoln Institute of Land Policy, a Massachusetts nonprofit that studies land use and taxation.

Florida Chief Financial Officer Blaise Ingoglia, a Republican, has been touring the state arguing that local governments are overspending, trying to show they don’t need the $19 billion in property taxes they collect from homeowners for whom the property is their primary residence. Local governments have been disputing those figures.

North Dakota is using earnings from the state’s $13.4-billion oil tax savings account to gradually wipe out homeowner property taxes. Last year, North Dakota’s Republican-controlled Legislature expanded its primary residence tax credit from $500 to $1,600 a year. Officials in December said the tax credit wiped out property taxes for 50,000 households last year and reduced bills for nearly 100,000 more. That cost $400 million in state subsidies for the 2025 and 2026 tax years.

“It works, and we know we can build on it to provide even more relief and get property taxes to zero for the vast majority of North Dakota homeowners,” Republican Gov. Kelly Armstrong said.

The situation is murkier in Texas, which has been using state surplus funds to finance property tax reductions, and under the Georgia proposal, which calls for shifting taxes around.

A shift from property to sales taxes

Burns wants Georgia to wipe out $5.2 billion in homeowner property taxes — more than a quarter of the $19.9 billion in property taxes collected in 2024 — telling cities, counties and school districts to fall back on current or new sales taxes.

Not only will Burns’ plan need the Republican-led Senate to agree, but it will require Democratic support to meet the two-thirds hurdle for a state constitutional amendment and then voter approval in November.

While most property taxes go to schools, the majority of sales taxes don’t in some communities. It is unclear whether localities would redivide sales taxes. Also, local governments and schools would remain limited to a combined 5% sales tax rate, atop the state’s 4% rate. Some schools and governments might not be able to raise sales taxes enough to recover lost revenue.

Georgia would go from currently shielding $5,000 in home value from taxation to $150,000 in 2031 before abolishing most homeowner property taxes in 2032. The plan would limit yearly property tax revenue growth to 3% on other kinds of property.

Local governments would able to send homeowners a yearly bill for specified services such as garbage pickup, street lighting, stormwater control and fire protection, but lawmakers aren’t calling that a tax. Voters could also approve assessments for government or school improvements. Authors said they haven’t decided whether property owners could lose homes for unpaid assessments.

Burns also wants to spend about $1 billion to cut property tax bills in 2026, but it is unclear whether Republican Gov. Brian Kemp will agree. A spokesperson declined to comment.

Georgia previously tried to limit how much home values could rise for tax purposes, one common approach nationwide. But a majority of school districts and many other local governments have opted out. Georgia’s senators are still pursuing that approach, with a Senate committee on Wednesday voting to make the limit mandatory.

Amy writes for the Associated Press. AP writer Jack Dura in Bismarck, N.D., contributed to this report.

Wednesday’s cuts are the second mass layoffs in three months at the e-commerce giant.

Amazon is slashing 16,000 jobs in a second wave of layoffs at the e-commerce giant in three months, as the company restructures and leans on artificial intelligence.

Wednesday’s cuts follow the 14,000 redundancies that the Seattle, Washington–based company made in October. The layoffs are expected to affect employees working in Prime Video, Amazon Web Services, and the company’s human resources department, according to the Reuters news agency, which first reported the cuts.

Amazon confirmed to Al Jazeera that all the cuts to the company will affect corporate-level employees.

In a memo to the employees, shared with Al Jazeera, Amazon said workers in the United States impacted by the cuts will have a 90-day window to find a new role in the company.

“Teammates who are unable to find a new role at Amazon or who choose not to look for one, we’ll provide transition support including severance pay, outplacement services, health insurance benefits [as applicable], and more,” Beth Galetti, senior vice president of People Experience and Technology at Amazon, said in the note provided to Al Jazeera.

The announced reductions come amid a broader restructuring effort at the company. Earlier this week, Amazon announced it would close its brick-and-mortar Amazon Go and Amazon Fresh grocery stores, accounting for more than 70 locations across the US.

Some of those physical stores will be converted into Whole Foods Market locations. Amazon acquired the Austin, Texas–based grocery chain in 2017, and it has since grown by 40 percent.

The cuts come alongside increased investment in AI. In June, CEO Andy Jassy touted investment in generative AI and floated the possibility of redundancies.

“We expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company,” Jassy said in a blog post at the time.

According to the AFL-CIO CEO PayWatch tracker, Jassy made 43 times more than the median employee at the company.

Amazon’s stock tumbled in midday trading and was down 0.7 percent. Overall, however, the stock is up 7 percent year to date.

Wave of cuts

Amazon is the latest company in a wave of redundancies hitting the tech sector at the start of the year. Earlier this week, Pinterest announced it would cut 780 jobs as the social media company reallocated resources amid increased investment in AI. Last week, Autodesk said it would cut about 1,000 jobs, also tied to AI.

Layoffs.fyi, a website that tracks redundancies in the tech sector, shows that more than 123,000 tech workers lost their jobs in 2025 as companies, including Salesforce and Duolingo, doubled down on AI investments.

But it is not just the tech sector facing redundancies. On Tuesday, UPS also announced job cuts. The shipping giant said it would eliminate 30,000 jobs and close 24 facilities as it reduces deliveries with Amazon.

UPS stock was down more than 1.2 percent in midday trading.

Carney has been under pressure from the opposition to lower prices of food and other essentials for lower-income people.

Canadian Prime Minister Mark Carney has announced a multibillion-dollar package as part of a series of measures aimed at lowering the costs of food and other essentials for low-income families.

On Monday, Carney announced a five-year 25 percent boost to the Goods and Services Tax (GST) credit that starts this year.

The GST credit, which is being renamed the Canada Groceries and Essentials Benefit, will provide additional, significant support for more than 12 million Canadians, Carney said in a statement.

The government will also provide a one-time top-up equivalent to a 50 percent increase this year to eligible residents.

“We’re bringing in new measures to lower costs and make sure Canadians have the support they need now,” Carney said.

The measures would cost the government 3.1 billion Canadian dollars ($2.26bn) in the first year and between 1.3 billion Canadian dollars ($950m) and 1.8 billion Canadian dollars ($1.3bn) in each of the following four years, he told reporters at a news conference, according to the Reuters news agency.

While overall consumer price inflation in Canada has eased and came in at 2.4 percent for December, “food price inflation remains high due to global and domestic factors, including supply chain disruptions, higher US tariffs from the trade war and climate change/extreme weather”, Tony Stillo, director of Canada Economics at Oxford Economics, told Al Jazeera.

The government is also setting aside 500 million Canadian dollars ($365m) from the Strategic Response Fund to help businesses address the costs of supply chain disruptions without passing those costs on to Canadians, and will create a 150 million Canadian dollar ($110m) Food Security Fund under the existing Regional Tariff Response Initiative for small and medium enterprises and the organisations that support them.

Changing landscape

“The global landscape is rapidly changing, leaving economies, businesses, and workers under a cloud of uncertainty. In response, Canada’s new government is focused on what we can control: building a stronger economy to make life more affordable for Canadians,” Carney said.

The new measures were unveiled on the day Parliament resumes after its winter break.

Opposition parties have urged Carney to reduce prices of daily goods, especially as sections of the economy have come under pressure from United States President Donald Trump, who has slapped 35 percent tariffs on the country as well as separate tariffs on steel, aluminium and lumber, leading to job losses in those sectors.

Over the weekend, Trump escalated his threats and said he would impose a 100 percent tariff on Canada if it makes a trade deal with China. Carney has been working on diversifying Canada’s exports away from the US, its biggest trading partner and to which nearly 80 percent of its exports went last year, including by increasing business with other markets like China.