"New capitalism," As Japan's New Prime Minister Promised.

However, some social media critics have suggested that their plan sounds more like socialism - they even call it "Japan's co-prosperity" about the central policies of the Chinese Communist Party. Does he even understand how capitalism works? Tweet Hiroshi Mikitani, CEO of Rakuten - Japanese online retail giant and the answer to retail giant Amazon.

Mr. Mikitani was furious about the Prime Minister's proposal to increase the capital gains tax (CGT); charge the government's investment profits in what is known as a "double tax." Rakuten bosses aren't the only ones expressing disapproval of the controversial new proposal. Many worries that it could quickly undo a new wave of interest in the stock market among small private investors.

In Japan, the election of a new prime minister has traditionally marked the start of a stock market rally. Still, otherwise, the Nikkei 225 plummeted with Mr. Kishida's arrival in October (before the general election). The index fell for the eighth day in a row, a decline now known as the "Kishida shock."

In response, Kishida quickly retracted his CGT proposal, saying he would not try to change the state's tax on capital gains and dividends for now. This alarming policy turnaround is a stark contrast between Mr. Kishida and his predecessors, Yoshihide Suga and Shinzo Abe.

Both promoted Abenomics, the now-famous economic policy known for the so-called "three arrows": aggressive monetary easing, fiscal consolidation, and growth strategies. Their goal was to use these three levers to free the Japanese economy from decades of slow or no growth.

During the tenure of these two leaders, they achieved several successes - the country's stock market multiplied in value. When Mr. Abe became Prime Minister for the second time in December 2012, the Nikkei 225 was under 10,000 yen. In February this year, it crossed the 30,000 mark for the first time since 1990. It took the Nikkei three decades to recover from the late 1980s that resulted in decades of economic decline in the country.

However, some strong critics of Abe's strategy - including Kishida - argue that Abenomics only makes the rich in Japan richer. Instead, they wanted the wealth to be more widely distributed among the population.

Despite all the hype and international attention surrounding Abenomics, ordinary citizens have not benefited from politics. Some say it has even widened the wealth gap between rich and poor. (This is despite the indicator that the Ginny ratio - which measures income inequality - has declined slightly over the past decade.) One of the reasons people think they don't have more money in their pockets is because average wages have barely increased in the last three decades.