The Philippine and US economies are both presently reeling from a crisis. The Arroyo administration has consistently refused to remove the VAT on petroleum products warning that it would trigger a worse crisis, while the Bush administration has warned of a long and deep recession if the proposed $700 billion bailout plan that would benefit big financial services corporations is not approved. Ultimately, however, it is the Filipino and American peoples who are being made to bear the brunt of their respective government’s measures through increasingly burdensome taxes.(By Flon Faurillo/Bulatlat.com)
Save as PDF
0 Comments