Category Archives: Economy

CALIFORNIA WELL ON ITS WAY TO BECOMING AN INDEPENDENT REPUBLIC

September 4, 2015 Pol Pinoy Leave a comment

SACRAMENTO, California (The Adobo Chronicles® ) – Forget about the proposed ballot initiative creating four Californias. How about making the Golden State an independent republic?

It’s just a matter of time before the world’s eighth largest economy will become a country separate from the rest of the United States.

Already, there is a growing consensus especially among the Republicans that a great wall be built between California’s southern border with Mexico.

Now, a grassroots movement is fast gaining momentum to build a similar border between California and Oregon, which would mean the only thing left to do is to build an eastern border between California and its neighboring states, Nevada and Arizona.

The Oregon grassroots movement is fast taking shape in the real estate business. Oregonians blame Californians for the sharp rise in home prices in their state.

‘For Sale’ signs posted in front of houses for sale in Oregon now include a mandatory ‘No California’ warning, meaning that purchase offers from Californians will not be entertained by home owners and real estate brokers.

In recent years, there has also been a significant increase in the number of Californians moving to Oregon. ‘Californians are taking over our state,’ one long-time resident of Oregon told The Adobo Chronicles®.

Oregon’s state assembly is in the process of drafting a new law that would authorize the building of a border wall with California to prevent further migration from south of the Oregon border.

Economy, Government, International, Law Enforcement

DOLLAR REMITTANCES TO THE PHILIPPINES WILL BE TAXED 35 PERCENT

August 23, 2015 Pol Pinoy 13 Comments

MANILA, Philippines (The Adobo Chronicles® ) – It seems like the Philippine government has waged an all-out war against its own citizens — especially overseas Filipino workers (OFW) and their families.

First, the Bureau of Customs announced new rules on balikbayan boxes, including opening them for inspection when they arrive at the Philippine port of entry. (Balikbayan boxes are those corrugated boxes used by OFWs to ship goods and gifts to their loved ones in the Philippines. Until recently balikbayan shipments have been tax-free. )

Today, Commissioner Kim Henares of the Bureau of Internal Revenue (BIR) announced that dollar remittances from OFWs will be subject to a 35 percent ‘gift tax.’

The Philippines ranks as the fourth biggest recipient of remittances worldwide with an estimated $24-billion inflow annually, according to a World Bank (WB) study. Remittances accounted for 12 percent of the Philippines’ Gross Domestic Product (GDP) the report said.

The Philippines trailed India , China and Mexico in terms of remittances received.

Henares said that the BIR is always looking for ways to earn tax revenue in order to sustain the Aquino administration’s anti-corruption policy of ‘Daang Matuwid’ (straight path).

“Strictly speaking, dollar remittances would be considered income for Filipino families and individuals on the receiving end of the money and should therefore be subjext to tax,” Henares said.

Updating: Henares Responds

Economy, Politics

VP JOJO BINAY’S GRAND PLAN TO ELIMINATE POVERTY IN THE PHILIPPINES

August 22, 2015 Pol Pinoy Leave a comment

The Makati skyline as it now, top, and when Binay becomes president, bottom

MAKATI CITY, Philippines (The Adobo Chronicles® ) – In the U.S., presidential candidate Donald Trump’s grand plan to curb illegal immigration is to build a great wall along the southern border with Mexico. In the Philippines, Vice President Jojo Binay, candidate for president in the 2016 elections, has a grand plan to end poverty in his country.

The Philippines is known for the wide gap between the rich and the poor, and nowhere is it more evident than in the Vice President’s own city of Makati. (Binay and his wife Elenita are ex-mayors of Makati and their son Junjun is the current, albeit suspended mayor).

In his plan, unveiled today at the Dusit Thani Hotel in Makati, Binay says he will erect giant billboards all over the country to hide the squatter shanties that are practically obliterating the beautiful skyline of progressive cities, including Makati.

“If we can’t lick ’em, then we should join ’em,” Binay said as he showed a model of what Makati’s skyline will look like with giant billboards hiding the squatter shanties from view. He said the cost of the building the billboards will be offset by the rent to be paid for by the advertising companies.