Kaila Patricia B.
Caido || G127
I.
GLORIA RODRIGO The peso-dollar exchange rate has now fully
MACAPAGAL DUTERTE breached the P50/USD mark, reaching levels not seen in 11
years. But the graph shows that this is part of a longer-term
2001 – P40.893 2016 – P46.942 depreciation of the peso that started in 2013.
2002 – P39.089 2017 – P49.999
A major reason for this is the US Federal Reserve’s
2003 – P44.192 2018 – P50.309
3 interest rate hikes since December, which have
2004 – P56.27
made US investments more profitable in the eyes of
2005 – P55.09 local investors. (They flood the market with pesos
2006 – P50.4 whenever they migrate their funds, thus lowering
2007 – P50.993 the peso’s value relative to the US dollar.)
2008 – P51.201
The US Federal Reserve expects another interest
2009 – P53.255
rate hike this year, and 3 more in 2018, as it tempers
2010 – P46.148
a stronger US economy. Hence, a further
depreciation of the peso toward P53/USD should
not come as a surprise in the coming months. While this is likely to raise the price of
imported goods, such depreciation will boost the country’s dollar-earning sectors (such as
exports, tourism, BPO, and OFW services).
On the other side, we have to comprehend why it is debilitating. The shortcoming is in
the end driven by more imports. The imports is in the long run driven by capital products
and venture. A weak peso likewise makes the Philippines more alluring to outside
financial specialists. The weaker peso, according to outside speculators, makes it less
expensive for them to put resources into the Philippines. A weaker peso is useful for
OFW families since they have more cash to spend.
II.
According to my mother, a money that is amounting Php 6200 isn’t enough for
our family’s monthly expenses considering that we are 5 in the family. But, compressing
that value of money, we may have to able to pay a house for about Php 2000 built by a
bunch of nails, plywood and a galvanized roof. Water bill with estimated amount of Php
300 which hopefully are enough for our daily use. Php 500 electricity bill for the source
of light and a little ventilation. Other than that, food to eat is also an important factor. A
family of 5, the money left can only feed us once or not more than twice a day. So much
factors to consider including school fees, emergency consumption and etcetera. If I would
compare this kind of living with those in the slum areas, I would say it’s, if not similar.
That’s why I am really hoping that the government would comprehend a solution for this
matter and the people living in these areas will also accommodate recommendations from
the heads.
III.
The government collects several kinds of taxes, among them, personal income
taxes, value-added tax, estate and donor’s tax, other percentage taxes, excise taxes, and
documentary stamp taxes. These levies are collected on all types of revenue, except when
these are explicitly exempted by the Bureau of Internal Revenue.
Taxes answer for all of government’s expenditures, including the running of those
agencies that make it possible for us to access basic necessities and services. This
includes water, power, roads, airports, and even the Metro Rail Transit. Taxes are used to
pay for the salaries of military personnel and policemen, who keep us safe and keep
peace and order in our country. Because of tax revenues, both the training and equipment
of security forces are upgraded, putting them in a better position to defend us. Our taxes
pay for the salaries of teachers in public schools and fund the construction of school
buildings, as well as the procurement of books, and school supplies. Education is a great
enabler and equalizer, opening up opportunities that otherwise would not exist for the
poorest of the poor. Taxes also fund the Conditional Cash Transfer program, which give
poor families a monthly allowance as long as they keep their children in school. When
government services suffer, the poorest of the poor are hardest hit because they do not
have options. Unfortunately, my parents work abroad and the taxes from their salaysay
are deducted by the country they are in. But I do believe that in general taxes that are
gathered on whatever country has similar objectives. Though it varies on how efficient a
country on using it. Japan, where my parents are, taxes are spent wisely. It is indeed
visible to their society that improvement are done in a very wise manner. Philippines on
the other hand, may not be that visible on spending taxes efficiently. Corrupts are
everywhere. Looking on the good side, many do benefit on these taxes. Hopefully, the
government will improve then maintain honesty.
