Thursday, August 04, 2005

a tax in any other name is still a tax!

from bworld.com.ph today, Friday, August 5, 2005
Finance department admitted VAT (value-added tax) on communication tax, overseas calls and text messages maybe double taxation!
President Arroyo and the Philippine Congress must cut taxes to increase BIR collections! As President Bush tax cuts of 2001 and 2003 showed, the less you tax businesses and consumers, the more taxes are paid in the coffers! As Adam Smith wrote in 'The Wealth of Nations' in 1776,- the natural effort of every individual is to better his own condition - applies to all generation of all nations. Filipinos left alone, will spend money that belong to them to begin with, in ways to better their lives.

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