Rizal Philippines
6.29.2021
We really hope and pray for that.
But major industries have been deeply wounded and affected. This will have trickle down effect on many sectors of the economy. The jobs lost in big companies will mean less purchasing power, less money in circulation All ready many small businesses have closed shop. Daily we lose billions more.
The very harsh and strict rules imposed and being observed right now, spell less and less revenue for many businesses. Like me, I do not enter restaurants and other stores that shoo me off if I do not have face shield. I feel bad towards banks who herd customers and treat them that way as they impose retrictions on people entering the bank There will be days of reckoning and comeuppance.
The govt which has borrowed extensively is looking at empty coffers because not too many are paying taxes, and where will they get the repayment if there is lower tax base. The lawmakers are not keenly aware that when they budget there has to be sources of funds. They are being depleted. Many businesses are online and therefore the govt revenue measures has many holes
