Duterte Eliminated Taxes for The FILIPINO MIDDLE CLASS (Almost)

Often poorly described by the western media, the Philippine president minds his own business and serves his Filipino men at best

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(Image Source: Philippine Star)

After having 1 million Filipino drug addicts surrendered, 18.92 billion pesos ($379 million USD) worth of drug and laboratory equipment seized, 118.3 thousand Filipino drug personalities arrested, and having nearly 4 thousand killed in anti-drug operations, Duterte has yet to stop delivering security and stability to his country.

Also, the crime rate has fallen 7.2% year over year to 364,915 from January to August 2017 compared to its year-earlier period.

On top of this, the Duterte administration has started its 2017-2022 8-9 trillion ($170 billion) infrastructure project “Build Build Build” to raise his countrymen’s standard of living at least by the end of his term.

In addition, the Philippines delivered a GDP growth figure of 6.5% in 2017 compared to 6.9% in 2016. According to the Asian Development Bank, the figure was lower in 2017 but is in line with the country’s average since 2010.

Who are the Filipino middle class?

In this blog’s assumption, the middle class involves people who are neither the top or bottom 10% of the population, or the average earners.

According to the Philippine Statistics Authority, average annual family income of Filipino families was approximately 267 thousand pesos as of 2015.  This would translate a little over 22 thousand pesos of income every month.

Nonetheless, the Philippine government under its newly signed Tax Reform for Acceleration and Inclusion (TRAIN) Law will no longer require Filipinos earning 250 thousand pesos and lower to pay taxes effective January 2018. In addition, the estate tax is now lowered to 6% from up to 20% from the previous tax law.

All this and more that are not mentioned have taken place within President Duterte’s eighteenth-month tenure as the Philippine leader.

“I am confident that we will be able to lift more of our people from poverty, expand the economy by about 50 percent in real terms, and make the Philippines hopefully, I pray, an upper-middle-class income economy in 2022.”

President Duterte (Manila Bulletin)

 

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