Pacquiao: Massive tax cuts, but more non-tax revenues

MANILA, Philippines — Sen. Manny Pacquiao is pushing for massive cuts on personal and corporate income taxes to help reduce government deficit and promote faster economic recovery.

He said the government’s dependence on tax revenues is very burdensome for Filipinos and results in high cost of doing business for investors.

“The more we impose taxes, the heavier for the people. That’s a heavy burden for our countrymen. You’re choking the people because of so many taxes – prices go up because of taxes,” Pacquiao noted in mixed Filipino and English during the online membership meeting of the Rotary Club of Manila.

“There are many pretentious leaders claiming to be geniuses. But if you’re really geniuses, why is the country still poor? The government is spending so much while earning very little, that’s why there’s not much to cover our annual budget,” he added.

Full story: https://www.philstar.com/headlines/2021/11/06/2139292/pacquiao-massive-tax-cuts-more-non-tax-revenues