Rizal Philippines
August 24, 2018
What does the report of 6% inflation rate really mean in the market place. Does it mean that the prime commodities rose by P6 on the average for a P100 good. May be.
But the reality that bites is that it is not. The price increases are much higher than that. Say galunggong from P70 to P140 per kg; gasoline from P20 when fare was P8 to more than P40 per liter now. Rice used to be P20 per kg to more than P40. Can the average consumer wage earner keep up.
No wonder talks are ripe for a round of wage increases after we just gave one. Hmmmp what happened to the theory that by increasing the threshold of income tax for wage earners, there will be more money to spend. Yes for the price increases due to excise taxes imposed on gas and others to recover the loss from
tax exemption. Mali ata....By being political ie favoring the wage earner by raising tax exemption level, you hurt them harder by excise tax.
Sen Bam was right in asking everyone to reconsider the TRAIN law. It is a mistake
