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Showing posts from September 15, 2018

Imperative 45: 22nd vision: I-Congress' anti-poverty laws

    The Philippine Internet Congress may be set up as one option, thru the country's People's Initiative law, which allows changes in the constitution and other laws if voted upon by 12% of registered voters, or currently, some 7.2 million out of 60 million voters.  If  indeed such I-Congress gets set up, what should it do to slay the country's centuries-old poverty monster while addressing planet Earth's climate change problem as well?  Here are critical laws I-Congress should pass to attain such ideals:       1) Personal Income Tax to Co-op Shares Law: Personal income tax due must be used to buy shares in mega co-ops of the taxpayer's choosing.  Low-salary employees who are exempted from income taxation should allocate at least 10% of income towards purchase of mega co-op shares. Operationally, the Bureau of Internal Revenue will assign personal income tax collection functions to State and private banks provided said banks grant loans equivalent to ten years o