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It’s just funny how Duterte’s economists and closely-linked politicians scrambles to control inflation towards the end of 2018. Luckily for them though that world market prices of oil has significantly dropped which releases a slight inflationary pressures on the prices of oil in the country.
They know for sure and has acknowledged this so many times last year that TRAIN Law would have a huge impact to many Filipinos living below or barely above the poverty line. Simply because the promised tax-cuts only applies to people who pays for income taxes and not for those who doesn’t really paid them in the first place. In particular, those people working And adding insult to that is the sudden leap of fuel prices which forced many businesses to increase their product prices to keep up with their operational expenses.
But they’ve already been aware of this issue. Because they’ve been warned by one of the Senate’s brightest and intellectually capable senator Bam Aquino that this will not end well for everyone. They’ve been warned. In fact, Bam Aquino voted against it.
The opposition. Most notably, Bam Aquino himself did ‘helped’ them think through it. But they choose not to listen.
Bam Aquino vehemently opposed the passage of TRAIN Law since then. By means of forward strategic thinking – he knows so well that this would have a huge financial burden to many of the Filipinos
However, despite close-calls last year. The Duterte administration decided to pushed through with the plan in imposing yet ”another” round of excise taxes which would yet again increase the prices of goods in the market. In fact, the current inflation has eroded the incomes of the poorest 60% households by a total of Php2,650 to as much as Php7,000 from January to November of this year. The Php537 minimum wage in the National Capital Region is the highest nationwide but even this falls far short of the estimated family living wage of Php1,002 for a family of five.
TRAIN Law Part 2 2019 — the people’s worst nightmare
This year. If the prices of oil in the global market suddenly leaps back up. This would in turn cause huge and sudden increase of the current inflation rate. Possibly even sprinting upwards to around 10% due to the already hogged up excise taxes imposed by both TRAIN Law 1 and TRAIN Law 2. More and more people will starve and won’t be able to provide for their families.
Since poverty and crimes do linked up pretty well. So we can expect more thieves and robberies will be taking place as the people braced to survive in one of the Philippines worst economic nightmare. Hey just for reference though that the last time we had huge huge inflation rate was way back during Marcos time at around 50%.
Who voted for TRAIN Law!?
- Voted NO!
- Senators Ping Lacson
- Risa Hontiveros
- Bam Aquino
- Antonio Trillanes IV
2. Voted YES!
- Sonny Angara
- Nancy Binay
- Frank Drilon
- JV Ejercito
- Chiz Escudero
- Win Gatchalian
- Dick Gordon,
- Gringo Honasan
- Loren Legarda
- Joel Villanueva
- Koko Pimentel
- Grace Poe
- Ralph Recto
- Tito Sotto
- Cynthia Villar
- Migs Zubiri.
Who cares right? More taxes. More funds to steal don’t you. Everyone happy? Don’t you agree?! Filipinos never learn…
Bam Aquino filed the ‘Bawas Presyo Act’ to help control the inflationary pressure brought up by imposing TRAIN Law
According to the bill, the Bawas Presyo Act is a means to “protect underprivileged Filipino families from increasing fuel prices, and its effect on the prices of goods and services, by suspending the excise tax on fuel under TRAIN when the average inflation rate surpasses the annual inflation target range over a three-month period.”
We can only hope that such measure will be taken into consideration before inflation will go spiraling out of control again this year.
Or we can just simply NOT vote for any of Duterte’s allies/cronies.
If you need someone who cared so much for the people and not for himself or for anyone else. I’ll place my vote on Bam!