P3.94 Trillion Debt

[potterboy]

---

wow.

[dairyman]

if i could only pay those... *sigh*

[giver_bert]

progressive interest rates, buffered by corrupt officials.. heck, what do you expect?

E-VAT? . it's definitely not the answer to the problem..

[bcasabee]

I think E-Vat is being implemented no to write off the entire debt. It's purpose is to balance the budget which will ensure that we have enough to pay for the debt's interest and hopefully a little bit of the principal, for the pork barrels of the president, senators, congressmen, for kickbacks, and for every government agencies and departments and other kickbacks.

[tolstoi]

kung mo take over ang communist party mabayran kaha ning utanga?

[klavel]

Good thing the President braved herself in pushing the E-VAT. She's the only president who made it sure that the our debts will be taken care of.

E-VAT is not the best solution to our current debt. The imposition of E-VAT is not a guarantee to abate current debt. Every year we suffered budget deficit this happens because we have poor and insufficient taxes collection. Even we increase E-VAT to 15% still this can't compensate to our domestic and foreign debt.

Government should focus first on revenue collections.

The problem is not "insufficient tax collection" BUT on misappropriations on the collections made by some of our gov't officials. Corruption in the gov't existed eversince and if they are honest enough to put where our taxes should be (instead in their pockets), the Phils. might have been a better place to live in and people might not be thinking of leaving. The taxes came from our hardworking pinoys and they deserve better philippines from what they are paying.