The richest, not the nation, must bear the brunt of additional taxes

This article is available in Pilipino

The US-Marcos Jr. regime is now on its way to completing the reforms in the tax system. On one hand, it imposes a multitude of consumption taxes that the people are made to bear, while on the other, it further reduces the tax obligations of big businesses and corporations. To deceive the masses, it dangles the much-inflated provision of lowering the personal income taxes. But in truth, only those who are already earning big will benefit from this while the rest of the majority Filipino low-income earners will not be able to feel these reforms on personal income taxes.

For instance a Salary Grade 3 teacher earning an average of P25,000 a month, which is the wage percentile that 92% of public school teachers are in, will only be able to get an additional P208 every month under the aforementioned reform. Meanwhile, a Chief Executive Officer of a large company with a monthly salary of P495,000 will earn an additional P13,858 per month.

Worst of all, taxes for goods and services that the majority of ordinary Filipinos buy on a daily basis will be increased. Most of them are already exempt from paying personal income taxes since they are low-income earners. But although they are not covered by these reforms on personal income taxes and will consequently earn nothing more because of it, they are set to be burdened wholly with comsumption taxes from goods they need every day.

While the majority of the Filipino nation suffer from these conditions, the US-Marcos Jr. regime is adamant in its refusal to tax the richest Filipinos. The combined wealth of the top 50 richest in the country reaches a staggering amount of P4.1 trillion. If they are made to pay taxes as well as the other billionaires in the country, not less than P468.8 billion can be collected. This is almost three times bigger than the amount that can be collected from consumption taxes. If only the regime chose this path, then the ordinary Filipino would not have to bear the brunt of these burdensome taxes.

But the anti-poor government cannot be expected to do this voluntarily. Because its sole purpose is to serve the interests of its ruling classes masters, it will never deliberately take steps for the interests of the masses. To earn concrete gains that will be for the people’s advantage, it must be fought for by the people. The NDF-Bikol is one with the Filipino nation in this clamor for a progressive tax system, lowering of prices and other campaigns that truly further their welfare and the common good.

The richest, not the nation, must bear the brunt of additional taxes