wealth tax
Tax the super-rich
August 15, 2023
NEWS ANALYSIS
Growing billionaire wealth amid increasing poverty, worsening joblessness, and stagnant wages shows that it’s high time for the Marcos Jr administration to heed calls for a wealth tax on the country’s billionaires.
“Louis Vuitton” tax inferior to billionaire wealth tax – IBON
January 19, 2023
A higher consumption tax on luxury goods is desirable but is not a substitute for a wealth tax which can raise far more revenues for social and economic development.
Tax billionaire wealth to raise revenues
October 11, 2022
Government refuses to cut oil taxes because of revenue losses. Taxing the super-rich however will help raise revenues—a wealth tax on 2,945 billionaires can contribute Php469 billion to government coffers. This is even bigger than the Php197.3-billion revenue collected from TRAIN’s oil excise tax in 2019-2020 which disproportionately burdened the poor.
The scourge of price hikes
April 16, 2022
Prices keep rising, cash subsidies are limited, and real wages keep falling. The situation will not get better if the government does not acknowledge that the rampant jobs crisis and worsening poverty are huge problems that require big solutions.
Tax the billionaires
September 29, 2021
Billionaire tax
September 27, 2021
The Duterte administration’s economic managers have for too long been more concerned about the wealth of a few than the plight of the many. But collecting just a fraction of the huge wealth of the few is a step to redistributing wealth towards the working people who did so much to create it. Related read: […]
Billionaire tax can fund ayuda and health–IBON
September 27, 2021
The Duterte government’s insistence that it lacks funds for a bigger COVID-19 response does not hold water. Substantial revenues can be raised by taxing the country’s super-rich who can well afford to contribute much more to pandemic response and other needs.
