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Just this December 4, 2018. President Duterte approved another round of excise taxes this coming January 2019. It is important to take note world oil prices has since been decreased thereby giving Duterte more free-room to jack up prices. Of course, we’re so used to this right?
Just last year 2018. Duterte imposes the first tranche of excise taxes under TRAIN Law and this kick-started the surging inflation which has seen the huge leap of prices in the market. Many Filipinos just coudn’t afford many of the necessities creating an uproar of dissent. On top of that, it perfectly chimed in with the rice hoarding scandals which resulted to increased prices and under supply of rice.
Dubai crude oil prices have gone down by 14%. Duterte feeling complacent?
Duterte has since been convinced that he needed to suspend the next round of excise taxes next year to help ease up the surging increase of prices and effectively relax negative public sentiments.
Of course, by mere stroke of luck – a sudden slash in world-oil prices helped decrease the prices of oil and effectively puts the inflation rate in manageable levels. Because of this. Duterte decided to go on in imposing the next round of excise-taxes this January. Which is as expected will jack up the prices a bit more.
What if the prices of oil goes up again? Does this mean it will be worst?
Yes, it is expected to be worst. Remember that inflation rate hovers at 6% still considered higher but it is no longer surging upwards like months before. If world oil prices increases again then it’s highly likely that we will be experiecing worst increase of prices at more than 7 or 8%.
As you know we’ve all been feeling the brunt of Duterte’s grossly disadvantageous economic policies. Such as going along with China’s debt-trap loans which is expected to swoop over and siphon much of our economic surplus which will instead be paid on China’s high interest loans.
On one end of that. A large percentage of those Chinese funded projects will be employed by Mainland Chinese citizens and not Filipinos. Thus, creating an opportunity vacuum that puts many unemployed yet we’re still paying huge amounts of money for this high-interest loans.
What is the purpose of imposing TRAIN Law in the first place? What’s the real deal?
The real deal is that this will help Duterte fund his ambitious switch to a Federalist form of govt. Which entails huge amounts of money to hire and elect more people to each federal state regions. An increased bureaucracy in the government is expected to bogged us down. There will be more complicated issuance of laws differing each regions and ultimately dividing the country into different tribes. This will also empower political dynasties in each of the region as they are now able to influence and appoint distant relatives in key positions.
TRAIN Law to fund Federalism? More politicians to vote. More Taxes. No term limits.
The reason being is that TRAIN Law will give Duterte enough breathing space and assure his economic managers that it is safe to proceed with Charter Change ergo Federalism as he’s always been wanting to increase his term for an extra 10 years or appoint Gloria Arroyo as Prime Minister.
The Senate will be dissolved and the the Vice President will no longer be in the line of succession.
The tandem of extreme evil and corruption might even win. If Cha-Cha/Federalism get’s passed on. This will cause great harm to our largely democratic societies. Many will soon to be executed and murdered by mere whisk of Arroyo’s wand. Dissent may no longer be tolerated and a unified party dictatorship looms.
But we still have hope.
This coming elections in 2019. Make sure to vote for the right people. Not Duterte’s greedy fans club.