@pgmn_official: As proposals to tax the country’s richest Filipinos gain traction, PGMN anchor Orion Perez Dumdum warned that the policy could hit far beyond billionaires and directly affect the systems that power daily life. The proposal, introduced by the IBON Foundation, includes a 1 to 3 percent tax on billion-level wealth, with estimates of ₱500 to ₱600 billion in annual revenue and around ₱155 billion from the 15 richest Filipinos alone. ⠀ Dumdum explained that companies may respond by raising prices, cutting costs, delaying projects, laying off workers, or selling assets. The result could mean higher electricity and fuel costs, fewer infrastructure projects, and reduced hiring. Inflation has already risen to 4.1 percent from 2.4 percent, with households struggling to keep up with basic expenses. The impact does not stay with billionaires. It moves through the economy and reaches ordinary Filipinos, directly affecting what people pay for daily needs, the jobs available, and how far their income can go.

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Monday 20 April 2026 15:12:40 GMT