Only greedy capitalists will oppose one-time wealth tax, says de Guzman

Photo Courtesy of Ka Leody De Guzman Facebook Page

MANILA, Philippines — Left-leaning presidential candidate Leody de Guzman said Wednesday that only greedy capitalists will oppose his proposed 20-percent one-time wealth tax on the country’s richest citizens.

According to the Partido Lakas ng Masa (PLM) standard-bearer, wealthy Filipinos who have a heart for the people will not find it hard to accept his proposal.

“Hindi mahirap para sa kanila ‘yon, lalo na doon sa may mga puso na tumulong, ‘yong mga kapitalistang may puso na tumulong,” he said at the Pandesal Forum.

(It wouldn’t be difficult for them, especially for capitalists with a heart to help.)

“’Yong mga walang puso na kapitalista, ‘yong mga ganid ay talagang magre-react at uutusan ‘yung kanilang mga tagapagsalita na takutin ang ating mga mamamayan [na] magkakaroon ng capital flight sa ating bansa,” he added.

(Those ruthless capitalists will strike back by ordering their spokespersons to scare our citizens that there will be a capital flight in our country.)

The labor leader first broached the proposal during the “Panata sa Bayan” presidential forum hosted by the Kapisanan ng mga Brodkaster ng Pilipinas last Friday, explaining such a measure would at least decrease inequality or the big gap between the poor and the rich in the country.

De Guzman pointed out that large corporations have continued to amass wealth during the pandemic, even when other people suffer from high prices of goods and unemployment.

“Kung gusto natin makabangon sa krisis na ito, wala tayong ibang pagkukunan kundi tawagin ang pansin nitong mga mayayaman,” he said.

(We have no other option but to draw the attention of these wealthy individuals if we want to recover from this crisis.)

The presidential aspirant also said that the concept of a wealth tax will be easier to accept because businesses offer corporate social responsibilities anyway.

He also pointed out that his proposed wealth tax will not significantly affect the wealth of the richest individuals.

“Tingin ko naman, ‘yong COVID wealth tax ay hindi na masakit sa kanila. Hindi naman nila ikahihirap ‘yung 20 percent one-time levy kaagad. Hindi naman nila ikahihirap ‘yon,” he added.

(In my opinion, their wealth will not be affected by the COVID wealth tax. They will not become poor because of a 20-percent one-time levy.) — Jericho Zafra, Inquirer.net trainee

EDV