The Philippines Tax System Hasn't Been Updated for Over 40 years - Ridiculous

Did you know that the Philippines hasn't updated and indexed its tax system to inflation since - wait for it - the 1970s?? That was 40 years ago! People who earn 500k then are rich and taxed at 32%. That amount when adjusted to inflation 500k(in the 70s)=10million at the present. So 500k earners now are middle class and still taxed at 32%. If you don't find that ridiculous, then clearly, you aren't a wage earner/taxpayer.

Source: http://opinion.inquirer.net/77762/overtaxing-working-middle-classes

Also, did you know that people earning 250,000pesos (US$5,000) a year are exempted from taxes in Singapore, taxed at 15% in Indonesia BUT are taxed at a WHOPPING 25% in the Philippines? Clearly the tax systems of other countries acknowledge the struggles of a middle class family who needs to be empowered and given leeway to save for their families.

Help advocate for a change on our outdated and inequitable tax system! Adjust income tax brackets! I support the Tax Reform Bill and Tax Deductible on Education Bill. Support Senate Bill S.B. 2149! ‪#‎SupportTheMiddleClass‬ ‪#‎LetsHaveAProgressiveTaxSystem‬

Source: http://opinion.inquirer.net/77762/overtaxing-working-middle-classes

Thanks Senator Sonny Angara please make this push through!

Watch the video below to be more informed

Support the Middle Class: Tax Reform Bill and Tax Deductible on Education Bill

Iskolar ng Bayan Act (S.B. 2275) approved in the Senate

See? Good legislation is so powerful as it can change the lives of so many. That's why WE SHOULD CHOOSE WHO WE VOTE as CONGRESSMEN AND SENATORS, because the laws they pass can immensely impact our lives and of generations to come. You want poverty alleviation? Start and invest in education!

 Photo taken from: https://www.facebook.com/alanpetercayetano?fref=photo

 I don't patronize political dynasties, but kudos to the Cayetanos for authoring this bill both at the HOR (Cong Lino Cayetano) and the Senate (Sen Pia Cayetano and Sen Alan Peter Cayetano). #IskolarNgBayanAct #beinformed #education

"Senator Pia Cayetano explained that the top 10 public school students of their graduating class would be accorded automatic admission to SUCs of their choice within their provinces or nearby provinces, depending on the size of he SUCs and their course offerings.

However, she said that the state-owned University of the Philippines (UP) is excluded from the list of SUCs because of its institutional autonomy unless UP would come up with its own scholarship program for the top 10 public high school graduates."

Source Senate OKs Iskolar ng Bayan Act (Manila Bulletin)