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Help advocate for a change on our outdated and inequitable tax system!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