Category Archives: Economy

VICE PRESIDENT BINAY PROPOSES ONE-CHILD POLICY FOR PHILIPPINES

September 21, 2015 Pol Pinoy 2 Comments

MANILA, Philippines (The Adobo Chronicles®) – Philippine Vice President Jejomar Binay who, according to the latest polls, has slipped to third place among the three declared presidential candidates — behind the Aquino Administration’s bet Mar Roxas and Senator Grace Poe who remains in first place — has proposed a major shift in Philippine policy.

Diverting his campaign strategy away from personal attacks and more on issues important to the Filipino people, Binay today unveiled his bold proposal to address the problem of overpopulation and poverty in this nation of 100 Million people.

Speaking to reporters at an impromptu press conference at the Dusit Thani Hotel in Makati City, Binay said that if elected president, he will propose and implement a one-child policy for the Philippines, similar to that put in place by China in 1978.

China’s policy is aimed at alleviating social, economic and environmental problems in this country of over a billion people.

Binay, a devout Catholic, is confident that the Catholic Bishops Conference of the Philippines (CBCP) will support his plan, as long as it doesn’t involve any means of artificial birth control.

In justifying his proposal, Binay cited the fact the U.S. State of California is bigger in land size than the entire Philippines, and yet the Filipino population is almost three times that of California (see illustration).

The vice president is proposing a fine of one hundred thousand pesos or a prison term of one year for both parents who would violate the one-child policy. Unmarried parents would pay double the fine or would suffer a two-year prison term.

“It’s about time we solved the problem of overpopulation in our country once and for all,” Binay said.

Economy, Government, Politics

PHILIPPINE PRESIDENT AQUINO WANTS TO TAX FILIPINOS EVEN MORE, UP TO FORTY PERCENT

September 15, 2015 Pol Pinoy Leave a comment

MANILA, Philippines ( The Adobo Chronicles® ) – Philippine President Aquino is not convinced lowering income tax rates will benefit the majority of the Filipino people, saying improving tax collection — not reducing it — has been one of his administration’s greatest accomplisments.

Aquino’s statement came after he rejected a House bill seeking to lower income tax rates in the Philippines. If approved, the government is estimated to lose at least P30 billion or $641.49 million during its first year of implementation.

“Especially with the coming 2016 election year, we need to increase, not reduce, income taxes in order to sustain the many unfinished infrastructure projects of the government. Plus we need the funds to run a successful political campaign to make sure the administration’s bet, former Interior and Local Government Secretary Mar Roxas, becomes the next president,” he said.

The current personal income tax rate in the Philippines is 32 percent.

Aquino wants to immediatelty increase it to 40 percent.

Asked by reporter how he came up with the proposed figure, Aquino said, “It’s easier for the Bureau of Internal Revenue to deal with a round number.”

Business, Economy, Government

PHILIPPINE GOVERNMENT EMPLOYEES ASKED TO MAKE COUNTRY’S RICHEST MAN EVEN RICHER

September 5, 2015 Pol Pinoy Leave a comment

SM Mega Mall in Mandaluyong, Metro Manila

MANILA, Philippines (The Adobo Chronicles® ) – This month, the Philippines’ Civil Service Commission (CSC) celebrates its 115th anniversary by asking the close to 1.5 Million Filipino government employees to give money to the country’s richest man, Henry Sy.

Let us explain.

From September 25 to 27, 2015, government workers can avail themselves of 10% discount at all SM Department Stores nationwide, valid on regular-priced items for a minimum purchase of PHP500. SM Appliance Centers will offer 5% discount nationwide, as well as financing promos for select branches in Metro Manila and nearby Luzon. Shoppers at SM Supermarket and SM Hypermarket will get a free item with a minimum purchase of PHP500.

To be eligible for the said promos, civil servants should present their official government office ID or Government Service Insurance System (GSIS) ID card, including an SM Advantage Card, SM Prestige Card, MOM Card, or BDO Rewards Card, according to CSC Announcement No. 53, s.2015.

The common denominator of the promo? Henry Sy, owner of SM.

What all this mean is that government employees must spend, spend, spend, even if they weren’t planning to, and spend their hard-earned money at SM, so that Sy can build more shopping malls.

How about just giving all government employees a food basket consisting of a bag of rice, assorted canned goods and other kitchen essentials? Or give them a voucher towards free rides on buses or the light railway (MRT).

What happened to ‘Matuwid na daan?’ (straight path). Or ‘Matuwid na pag-iisip.” (common sense thinking).