Helping the Ecpnomic Growth of The Philippines
June 19, 2009 6:53pm CST
There will be economic growth if the government lower the cost of doing business, especially power and water, and the impact of taxation you attract capital. High income tax also results in a high number of tax evasion cases. The government must definitely reduce the burden of the employees by reducing income tax if we really want to alleviate poverty. Reducing income tax also result to savings. Savings in taxes by somebody is income to another. When the government reduce income tax, people will actively spend their money and when they do, there is an incidence of taxation again and again so the government recover it.