Gabrielle Perez DEVFINA A52
“Revenues and Expenditures: The Lagging Principle ”
The Department of Finance’s proposed TRAIN Package or tax reform has been an issue that a lot of citizens believe can affect their day to day lives. More than this the researcher believes that a concern for each and every citizen in the Philippines, would be how our government spends with the taxes we pay. This paper aims to analyze the current government fiscal accounts, and recommend policies that would secure growth in the nation.
A. On Table 2: The Fiscal Accounts, 2013-2016
Given the amount of data and statistics, the researcher immediately noticed the two key components in the table: revenue and expenditure- that the relationship of revenues to expenditure is direct in nature, wherein as the revenues increased throughout the years, the expenditures increased as well. However, the researcher believes, that it is in the question of what is being done with the direct relationship of revenue and expenditure, that the analysis should focus on. When referring to the statistics given, it is seen that even though the government has been spending more, the increase in taxes over the years have been due to the payment of local and internal debts. More than this, it is seen that given the increase in fiscal deficit, our government has been spending well beyond our means.
B. On Implications...