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CO3 Module 3 Exam - JAMISON

The document discusses several policies and events in the Philippines' history that have negatively impacted economic growth and development, especially for the poor. It summarizes that decades of corruption, inadequate agrarian reform, industrialization projects under Marcos that increased debt, and tax policies that favor the wealthy while burdening the poor have contributed to slow economic growth. The TRAIN law and proposals for federalism are argued to disproportionately affect the low-income population. Rice tariffication and issues with CARP implementation are also said to negatively impact farmers.

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Aaron Jamison
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68 views

CO3 Module 3 Exam - JAMISON

The document discusses several policies and events in the Philippines' history that have negatively impacted economic growth and development, especially for the poor. It summarizes that decades of corruption, inadequate agrarian reform, industrialization projects under Marcos that increased debt, and tax policies that favor the wealthy while burdening the poor have contributed to slow economic growth. The TRAIN law and proposals for federalism are argued to disproportionately affect the low-income population. Rice tariffication and issues with CARP implementation are also said to negatively impact farmers.

Uploaded by

Aaron Jamison
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Jamison, Aaron Gabriel T.

GED103-BSEE
Exercise 4.3.3 Think Piece

The Third Philippine Republic's final years, particularly the first term of President Ferdinand
Marcos, saw the nation continue to prosper and rapidly industrialize. Many infrastructures were
constructed, including the Pan-Philippine Highway and the North Diversion Road, today known as the
North Luzon Expressway (also known as the Maharlika Highway). Due to questionable infrastructure
projects that cost US$50 million, the Philippines began to endure an economic crisis at the conclusion of
Marcos' first term. Marcos also spent money on his re-election campaign. Marcos continued to take out
foreign loans for industrialization and infrastructure projects despite being elected to a second term,
which resulted in the "First Quarter Storm" due to the nation's deteriorating economy. Marcos persisted
in obtaining funds from abroad for infrastructure and industrialization projects. The national debt
increased from US$4.1 billion in 1975 to US$24.4 billion by the time Martial Law ended. The nation's
economy quickly began to collapse. The peso's value in relation to the US currency plummeted. The
nation and the Filipino people had fallen into a deep crisis by the time Cory Aquino took office as
president as a result of corruption under the preceding administration.

Various efforts are being conducted right now to alleviate or eradicate poverty. First is the
statute for agrarian reform. The Comprehensive Agrarian Reform Program is available (CARP). It is
allegedly intended to transfer land to farmers who do not already own land for farming. Despite using
such programs, it has been unsuccessful. Millions of dollars were spent during the Marcos
administration on industrialization. The Villars are now developing subdivisions on farmlands, in
particular Vista Land and Camella Homes. As a result, farmers are forced to relocate and are left without
any jobs. Our ability to produce food, particularly rice, is reduced by the ongoing conversion of
agricultural fields. The Rice Tariffication Act also eliminates restrictions on rice imports. Again, our
farmers are neglected, and this anti-Filipino law favors foreign rice growers.

The TRAIN Law, also known as Republic Act 10963 or the Tax Reform for Acceleration and
Inclusion Act, is one of the policies hailed as the "greatest Christmas and New Year's gift to Filipinos."
The income tax cut is one of its features, which is claimed to benefit the less fortunate Filipinos.
Petroleum products were subject to an excise tax with an annual increase. Additionally, sugary
beverages are subject to an excise tax, promoting healthy drink consumption.

While a cut in income taxes may sound beneficial, what would happen to individuals without
traditional sources of income, especially the poorest urban residents? Basic economics predicts that all
commodity prices will climb due to the rise in fuel prices brought on by the excise tax. What would
happen to the Filipinos with limited resources?

Finally, the Philippines is pushing for federalism. It allegedly contributes to decentralizing Metro
Manila. All taxes gathered in a region or state shall be distributed to them and used per federalism.
Although it doesn't cause much of a problem in the National Capital Region, would it take place in the
nation's most underdeveloped areas? Because of greater targeted tax control, wealthier areas may also
have more widespread corruption.

Decades of corruption, inadequate agrarian reform, industrialization, and poorly designed


Taxation and unsuitable constitutional amendments are to blame for our zero to moderate economic
growth. Development. Our tax structure heavily favors the wealthy while being unfavorable to the poor,
making the affluent richer and the needy poorer. Not the "greatest Christmas and New Year's law,"
Jamison, Aaron Gabriel T.
GED103-BSEE
Exercise 4.3.3 Think Piece

TRAIN Year's gift to Filipinos, but it also represents their worst nightmare and is anti-poor. a Rice Both
the Tariff Act and the Agrarian Reform Law are hostile to farmers. Federalism, as presented, is also
unfriendly poor and does not promote growth in the more underdeveloped areas.

BIBLIOGRAPHY

 Brillo, B. B. (2011). A theoretical review on Philippine policy-making: The weak state-elitist


framework and the pluralist perspective. Philippine Quarterly of Culture and Society, 39(1), 54-
76. Retrieved from https://jstor.org/stable/23645264?seq=1page_scan_tab_contents
 Buendia, R. (1993). Colonialism and elitism in Philippine political development: Assessing the
roots of underdevelopment. Philippine Journal of Public Administration, 37(2). Retrieved from
http://lynchlibrary.pssc.org.ph:8081/bitstream/handle/0/4051/09_Colonialism%20and
%20Elitism%20in%20Philippine.pdf?sequence=1&isAllowed=y
 Hutchcroft, P. (1998). The Political Foundations of booty capitalism in the Philippines. In Booty
capitalism: The politics of banking in the Philippines. New York, NY: Cornell University Press.
 IBON Foundation (2016). Tax Ganern! DOF’s Tax reforms tax the poor and relieve the rich.
Retrieved from http://ibon. Org/2016/09/tax-ganern-dofs-tax-reforms-tax-the-poor-and-relieve-
the-rich
 Overholt, W. (2017). Duterte, democracy,and defense. Retrieved from
https://www.brookings.edu/research/duterte-democracy-and-defense

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