Tama ka bro.shadow....
I did a quick first pass of the proposed tax scheme, the sweet spot would be those whose "taxable income"(i.e.,- after the allowed deductions) - which may still need TBD in the proposed scheme, approx between P1.9M to P5.1M, where the additional take home pay per month is about P9,300.
Inflection point for those earning over P5M would be at P8.8M, where both scheme net a tax of approx P2.8M..... after that the proposed scheme would mean more tax for these people....
Interestingly,- if you have a taxable income P12M (taxable income of P1M a month),- you only donate P7,900 per month to the public coffers,- not bad for this income bracket.... yes, the increase of 3% (35% vs. 32%),- means only a small P30K per P1M taxable income....
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"The measure of a man is what he does with power" LJIOHF!
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