Robinhood Padilla says higher taxes for PH’s super rich is ‘lunacy’

FILE PHOTO: Senator Robin Padilla. INQUIRER FILES

MANILA, Philippines — Senator Robinhood Padilla on Friday called the proposal to impose higher taxes on wealthy people a “big insanity” amid currently overlapping crises.

According to the neophyte senator, imposing more taxes on the wealthy may be among the usual solutions of the government to address critical situations but considering the dilemmas faced by Filipinos today, including the COVID-19 pandemic and rising prices of fuel and other basic goods, such a move would be “adding insult to the injury.”

He also said it must be clear where the taxes will be sourced because such measures usually ultimately result in cost-cutting in firms that will affect employees.

“Bagamat ito ang pangkaraniwang solusyon ng pangkalahatan ng mga gobyerno, pero sa ngayon, maituturing itong isang malaking kabaliwan dahil ang magdagdag ng tax sa gitna ng patong-patong na crisis na ito ay adding insult to injury. Saan daw kukunin ang tax sa kanila?” Padilla said in a statement.

(While this is the usual solution of government, for now, it can be considered a great folly because imposing more taxes amid the currently overlapping crises adds insult to injury. From where will these additional taxes be sourced?)

“Kailangan malinaw kung saan kukunin sa mga super-rich dahil ang kadalasan sa salita lang ‘yan na sa kanila kukunin pero mauuwi sa cost-cutting ng kumpanya o individual na ang tatamaan ‘yun mga maliliit,” he added.

(It should be clear where the additional tax for the super-rich would be derived because usually, it’s just words that it would be taken from their own pocket, but eventually, it would lead to cost-cutting of companies or the individual who would affect the ordinary people.)

Padilla stressed that proposing higher taxes on the country’s rich should ensure that the ordinary Filipino will not be affected since the wealthy have the means to protect their net worth.

“Ang mga super-rich ay may mga financial lawyers and advisers na nag-aaral at nagbibigay proteksyon sa kita ng kanilang mga kliyente at kumpanya. Sa pagkakaalam ko nga po may departamento ‘yan sa mga opisina,” he said.

(The super-rich have financial lawyers and advisers who study and protect their clients’ and companies’ income. As far as I know, their offices have dedicated departments.)

Senator Sherwin Gatchalian, who is poised to become the next chairman of the Senate ways and means panel in the 19th Congress, earlier said he is looking at increasing or adding more taxes on wealthy people to generate more government income.

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