In yesterday's meeting one can sense the difficulty of govt economic managers with regards to the removal of excise tax to mitigate the unrestricted increase in price of oil products.
1. It cant let go of the excise tax since under the train law, the tax exemptions of wage earners were increased to P250,000 each. The loss has to be replaced by excise taxes.
The excise taxes take care of the Build build program including the salaries of government employees
2. The government has to be liquid because its debt stock went up to nearly P12 trillion. Many of the govt deficit spending are financed by both local and foreign borrowings
3. Many speeches by know it all congressmen and other sages speak of P25B unspent budget .. These are unspent budget items and they are not funded? How do we source the budget items. The budget items and the source of funds are entirely different animals. And yet we cry over unrestricted huge govt borrowings?
4. The P200 per family subsidy/ayuda is looked upon as very small. Truly. They are merely ayuda. It is still the wage earners who have to earn for the upkeep of his family. The mentality that is going around is that the govt is huge pipe where all of the ayuda comes from, forgetting that the taxpayers like us sweat blood sweat and tears to pay the taxes that make the govt go around. And many speak easily of the endless ayuda that has to be funded by debt
5. This goes hand in hand with the wage increases And all ready many socialist thinking politicians are proposing P500.00 per day living wage increase. Good luck God bless to us. We hope that the bulk of businesses can fund this
