has attracted some comments, mainly from those who resist this proposal. I am copy-pasting the more substantial comments, below. To see the full comments, check http://www.interaksyon.com/business/58869/fat-free-economics--why-not-cut-income-taxes
Cut income tax here, expect many companies and professionals from abroad to come and do business here. April 7
Oliver Mia ·
cut income tax and have a lot less regulations and bureaucracy. April 7
Shakaru Macht · · Montessori Integrated SchoolComprehensive economic plans: ABOLISH INCOME TAX, TAX LAND VALUE - without the improvements and TAX CORPORATE CAPITALIZATION (maybe an annual value of 1% or less will do) April 9
We should elect candidates who proposes lower flat tax rates on income. It is better for the economy. April 11
ha! definitely lower tax rate is good. but to propose a 15% tax flat rate is irrational, irresponsible and does not look at the environment that is the Philippines. We can't always say that just because it is being applied by others we should apply it.
We should reason out that the most appropriate method is something that is acceptable to all. that is, a new tax rate system wherein everyone will comply and strict implementation will be upheld... I am not a NEGASTAR! but we have a culture that is so chinese... hanggang makakalusot, lulusot. and maximizing our profit without taking the social responsibility that we should sacrifice for the benefit of our country.
I am not being an ass here... this is simply the general truth.. it may not apply to all of us, but most of us do not subscribe to complying.. simple filing of VAT by small businesses is one of them. They may have good reasons like maliit na nga ang kita babawasan pa, but the logic here is that "ang VAT hindi naman kinakaltas ang kita sa businessman kung hindi sa mga end user.. marami pang palusot jan..
ang connect --- MAHILIG TAYO KUMABIG NG KUMABIG, ng hindi man lang marunong magpasalamat sa mga maliliit na tinatamasa natin.
I am up for lower taxes, but we need more rational basis for lowering it down, and we should put in place a system AND CULTURE were EVERYONE will do their part! otherwise, a lower tax, much as I also like that, is an exercise in futility in the overall vision of a more progressive economic growth for the Philippines.
"mahal ko ang pilipinas! alam ko kayo din! ayaw nyo lang aminin... sa gawa! sa salita! at sa isip!" April 12
Paul Vicente V Curimao · Manila, PhilippinesIn relation to my comment - I would like to apologize for my bigotry and discriminating statement correlating greed with the chinese. Most of us here, including myself, do have some chinese and spanish blood in us. I just so happen to be considered an indio in the very sense that I do have native blood in me. but that is beside the point!
No Pinoy should malign other nationality, much more if it gives the appearance that we are maligning our very own chinese pinoy who have been part of our culture, history, struggle and way of life for the longest time... even way before the spaniards set foot on our soil.
I do apologize if I had given a bad rap to our fellow pinoys. Here's to a more progressive and responsible citizenry!
"mahal ko ang pilipinas! alam ko kayo din! ayaw nyo lang amin... sa gawa! sa salita! at sa isip!" April 16
Nonoy Oplas ·
Why not debunk the 4 arguments I made why a flat tax of 15%, much better if 10%, is better. UK, Germany and France, Japan and S. Korea, US and Canada, they have very high taxes and look how they keep borrowing endlessly just to sustain their government spending. April 21
Albania, Belarus, Bulgaria, Kyrgyztan, Kazakhstan, Macedonia, Mongolia, Serbia, Macau, Russia, Czech Republic, Georgia, Iraq, Mauritius, Montenegro, Ukraine, Hungary, Romania, Estonia and Slovakia. How are these countries doing now after cutting tax rates? also, how is Japan, S. Korea, and Taiwan doing, even if their taxes are higher? Destructive Dilemmas. Logic's double edged sword. April 16
Nonoy Oplas ·
Good question. Flat tax is not the single most important solution to those countries' problems. Rather, it is having rule of law. So economies with rule of law plus low flat tax like HK and Singapore are good examples. Japan and Korea, Germany and France, US and Canada, many other rich countries, despite their very high taxes, their public debts are also very high, they sustain their welfare system only via endless borrowings. April 21
Abby Rivera · Ateneo de Manila University
Excuse me, but Senator Ralph Recto's current term is yet to finish until 2016. Maybe you were referring to another senator who's now running for re-election? April 18
Nonoy Oplas ·
Right. I was referring to his Senatorial bid in 2007, where he lost. He won again in the 2010 elections, where the stigma of VAT hike was lower. April 21
if the government cuts income taxes and puts all of its muscle on consumer taxes, will that affect domestic spending negatively and affect the supply-demand curve? (which is the most basic of all economic and financial principles). April 16
Nonoy Oplas ·
No. If government cuts income tax, it's like people have de facto wage and income hike. For instance, instead of having a take home pay of P25,000, they will have a take home pay of P30,000. They will not burn the P5,000 "additional income", they will spend it. April 21
Gian Joaquin · Pru Life Ukbut remember they will divert taxation to consumer taxes, decreasing the purchasing power of the individual, bigger take home pay doesn't necessarily mean better spending power if basic commodities will increase in prices. April 27-------------
Tax Cut 11: US Tax Cuts, Retain Them, September 18, 2010
Tax Cut 12: Removing Taxes on Foreign Airlines, April 02, 2012
Tax Cut 13: Remove the Excise Tax on Oil Products, July 04, 2012
Tax Cut 14: APTU Meeting in Bangkok, March 1-2, January 22, 2013
Abolish Income Tax 8. From low flat tax to zero income tax, September 30, 2011