Quote Originally Posted by creepy
A downgrade is because they think the Philippines will not be able to pay its debts. The only way to avoid is to show we can pay our debts --- by raising tax revenues.

If done properly, the increased VAT can result in a virtuous cycle. Higher revenues ==> better financial position ==> lower interest payments ==> more money to spend to improve economic conditions ==> higher revenues

we can never pay our debts kahit pa gawin 20% eVAT coz walang-wala na nga karamihan ng tao ngaun. it will only push the Pinoys to resort to smuggling or dealing underground. my point is madami naman pinoy ngaun, baka nga nasa 100M na tayo. give us purchasing power by not levying hefty taxes, baka mas lalo pa umikot ang pera, kapag umikot ang pera, may mag-invest, dadami magkakatrabaho.
compare 50-60M earning Pinoys with jobs paying 10% VAT to 10-20 earning Pinoys paying 12%VAT with the remaining jobless ... mas malaki pa din ma-i-contribute ng 60M pinoys. and I'm not talking about tax contributions to the state alone, pati skills & know how ng 60M.

these int'l community dont use their imagination eh, we are abundant in people resources. make use of that instead of killing us -> starving us to death!