ANALYSIS: As gov’t spends big, the people tighten belts
Posted at Jul 26 07:29 PM
Usually, when economic reforms are initiated, everyone is urged to bite the bullet, with the government leading the way through its own expenditure cuts. Under the tax reform scheme currently being promoted by the economic managers of the Duterte administration, citizens in the middle class and the poor sectors will be asked to make sacrifices and pay more taxes, but the government will be spending big and go on a foreign-borrowing binge for its grandiose “build, build, build” projects.
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