Nothing is certain in life, except death and TAXES!

ohhh yeah, ben franklin got that right

claiming my ITR (and knowing that the taxes I paid will mostly end up on some corrupt politico's pocket) is probably the most depressing thing next to the news that we will be leaving JG for good. Next week, we're now going to be officially denizens of the PSC's maximum security compound.

if you read Manila Times, you would be horrified to find out that, "As of end-August 2007, the National Government (NG) Outstanding debt was pegged at P3.871 trillion, or US$81.91 billion. The bigger part of this debt was acquired domestically (55.98 percent), with Treasury Bonds debt pegged at P1.55 trillion. This is worse when Mrs. Arroyo acknowledged that the country was suffering from a fiscal crisis. In 2004, National Government debt was P3.81 trillion.
As of mid-2007, the total National Government debt per Filipino is P43,649.57 with each individual coughing P7, 012.12 just to service the debt. "


i will not quote the entire article for i don't want to aggravate you further with the information that,
"From 2001 to 2006, Mrs. Arroyo borrowed a total of P2.83 trillion shaming the total P1.51 trillion combined borrowings of the Aquino, Ramos and Estrada administrations spanning 14 years. "

if that doesn't depress or anger you, i don't know what will. it's as equally depressing as seeing that you paid more than a hundred grand in taxes last year and there is no tax refund.

on the up side (if you could call it as such), someone got creative in proposing tax reform laws. I'm not sure if you've heard of it, but...

apparently our legislators have finally found a way to pay off all our country's debt. As proposed by law, sex (yes, you read it right) will now be taxed.

(1) Upon penetration (VAT - Vaginal Access Tax)
(2) More than 10 minutes inside (Burial Tax)
(3) Upon withdrawal (Exit Tax)
(4) Those who do not have sex life (Idle Tax)
(5) Those who practice withdrawal method of birth control (Withholding Tax)
(6) Entering other than wife (Road Users Tax)


If this is enforced, this might just solve all our national debt problems.




Tax reform means "Don't tax you, don't tax me, tax that fellow behind the tree." - Russell Long