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  1. Join Date
    Dec 2017
    Posts
    140
    #11
    I think TRAIN will benefit the upper class and will put more pressure on both the mid and low earners of our society
    .
    Yes there's is tax relief on income, but what makes it bad is the tax added on other items like Gas. If gas goes up almost all commodity will follow. We all know that.

    It encourages the average earners to consume more and more since they will have a greater purchasing power, but with the cost of commodities going up, it will be, well, costly. Instead of taxing gas, why not tax rich and super rich more?

  2. Join Date
    Nov 2005
    Posts
    34,815
    #12
    let's wait for Q1 GDP figure

    all talk now is speculation

  3. Join Date
    Dec 2017
    Posts
    140
    #13
    Quote Originally Posted by uls View Post
    let's wait for Q1 GDP figure

    all talk now is speculation
    I say 1st half GDP figure altogether or Q2. Impact shall be felt when all "old stocks" of goods run out and tax payers react on their spendings.

  4. Join Date
    Nov 2005
    Posts
    34,815
    #14
    PH economy relies on domestic spending

    higher prices = higpit sintoron = buy less

    like i said hintay next gdp data release

    pag bumaba alam na

  5. Join Date
    Jan 2018
    Posts
    148
    #15
    i wonder if the cut in income tax will be enough to off set the price increases

  6. Join Date
    Oct 2012
    Posts
    25,927
    #16
    Quote Originally Posted by stayhungry View Post
    i wonder if the cut in income tax will be enough to off set the price increases
    prices of commodities are not yet fully finalized. we're still waiting on the increase of fares sa transpo...

    Sent from my SM-G935F using Tsikot Forums mobile app

  7. Join Date
    Feb 2008
    Posts
    10,760
    #17
    Long read but interesting. Lifted from FB so take with a pinch of salt.

    Interesting article written by an Indian Economist about world economy. Amazing logic indeed. This is a crazy world! How valid is it? I leave it to you!

    Japanese save a lot. They do not spend much. Also, Japan exports far more than it imports. Has an annual trade surplus of over 100 billion. Yet Japanese economy is considered weak, even collapsing.

    Americans spend, save little. Also US imports more than it exports.
    Has an annual trade deficit of over $400 billion. Yet, the American economy is considered strong and trusted to get stronger.

    But where do Americans get money to spend? They borrow from Japan, China and even India.
    Virtually others save for the Americans to spend. Global savings are mostly invested in US, in dollars.

    India itself keeps its foreign currency assets of over $50 billion in US securities. China has sunk over $160 billion in US securities.
    Japan's stakes in US securities is in trillions.

    Result:
    The US has taken over $5 trillion from the world. So, as the world
    saves for the US - It's The Americans who spend freely. Today, to keep the US consumption going, that is for the US economy to work, other countries have to remit $180 billion every quarter, which is $2
    billion a day, to the US!

    A Chinese economist asked a neat question. Who has invested more, US in China, or China in US? The US has invested in China less than half of what China has invested in US.

    The same is the case with India. It have invested in US over $50
    billion. But the US has invested less than $20 billion in India.

    Why the world is after US?

    The secret lies in the American spending, that they hardly save. In fact they use their credit cards to spend their future income. That the US spends is what makes it attractive to export to the US. So US imports more than what it exports year after year.

    The result:

    The world is dependent on US consumption for its growth. By its deepening culture of consumption, the US has habituated the world to feed on US consumption. But as the US needs money to finance its consumption, the world provides the money.

    It's like a shopkeeper providing the money to a customer so that the customer keeps buying from the shop. If the customer will not buy, the shop won't have business, unless the shopkeeper funds him. The US is like the lucky customer. And the world is like the helpless shopkeeper financier.

    Who is America's biggest shopkeeper financier? Japan of course. Yet it's Japan which is regarded as weak. Modern economists complain that Japanese do not spend, so they do not grow. To force the Japanese to spend, the Japanese government exerted itself, reduced the savings
    rates, even charged the savers. Even then the Japanese did not spend (habits don't change, even with taxes, do they?). Their traditional postal savings alone is over $1.2 trillion. Thus, savings, far from being the strength of Japan, has become its pain.

    Hence, what is the lesson?

    That is, a nation cannot grow unless the people spend, not save. Not just spend, but borrow and spend.

    Dr. Jagdish Bhagwati, the famous Indian-born economist in the US, told Manmohan Singh that Indians wastefully save. Ask them to spend, on imported cars and, seriously, even on cosmetics! This will put India on a growth curve. This is one of the reason for MNC's coming down to India, seeing the consumer spending.

    'Saving is sin, and spending is virtue.'
    But before you follow this Neo Economics, get some fools to save so that you can borrow from them and spend !!!
    The world is in a economical mess Philippine Economy Talk

    Sent from my SM-N950F using Tapatalk

  8. Join Date
    Sep 2014
    Posts
    8,481
    #18
    kaya nga diba lam beses ko na sinasabi senyo, umutang ng umutang. that's the best way to help our countrymen. savers are useless in this economy.

    whenever I get a loan, I tell myself the interests that I pay will go in the economy. This is better than charity coz charity bigyan mo lang naghihirap na tao, pero yun tao mahirap pa din kasi nasanay sa bigay o mamalimos. pero ang interest na binabayaran mo, yan ang ang nagpapaikot ng ekonomiya.

    saka nun nangugutang ako, para feeling ko lalo ako sinuswerte, I get to buy the things that I really want. I don't scrimp or settle for 2nd best. and you know what's best if you have this attitude, nakakakuha ako ng best deals naman sa purchase ko

    dont be afraid of loans. kasi papayatin ka nyan. be afraid of hoarding, material things, money in the bank, full food pantry, papatabain ka nyan. pag mataba ka lalo ka lang mag -consume ng hinde mo kailangan. pag nangutang ka, maging efficient ka, kasi gagastusin mo lang talaga ang kailangan mo

  9. Join Date
    Oct 2014
    Posts
    1,191
    #19
    Quote Originally Posted by minicarph View Post
    kaya nga diba lam beses ko na sinasabi senyo, umutang ng umutang. that's the best way to help our countrymen. savers are useless in this economy.

    whenever I get a loan, I tell myself the interests that I pay will go in the economy. This is better than charity coz charity bigyan mo lang naghihirap na tao, pero yun tao mahirap pa din kasi nasanay sa bigay o mamalimos. pero ang interest na binabayaran mo, yan ang ang nagpapaikot ng ekonomiya.

    saka nun nangugutang ako, para feeling ko lalo ako sinuswerte, I get to buy the things that I really want. I don't scrimp or settle for 2nd best. and you know what's best if you have this attitude, nakakakuha ako ng best deals naman sa purchase ko

    dont be afraid of loans. kasi papayatin ka nyan. be afraid of hoarding, material things, money in the bank, full food pantry, papatabain ka nyan. pag mataba ka lalo ka lang mag -consume ng hinde mo kailangan. pag nangutang ka, maging efficient ka, kasi gagastusin mo lang talaga ang kailangan mo

  10. Join Date
    Nov 2005
    Posts
    34,815
    #20
    the US is the largest economy in the world coz it owns the world's most widely accepted currency

    the US has a privilege no other country has

    it can pay for imports with its own currency

    everyone else has to earn dollars and maintain dollar reserves to pay for imports

    the Phils. for example cannot pay for imports with PHP

    the Phils. needs to earn dollars by selling stuff to other countries, accept USD as payment, and use USD to buy stuff from other countries

    when a country runs out of USD, it's in trouble

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Philippine Economy Talk