TRAIN Law: Bane or Boon

The Tax Reform Acceleration and Inclusion (TRAIN) law is now one (1) year old since it
took effect last January 1, 2018. But I can still feel its impact; the prices of basic commodities are
now still increasing. What will happen now to the informal workers who do not have stable jobs?
How about the daily wage earners? While the prices are now steadily increasing, however the
minimum wage has not increased so far. How much more to the jobless and unemployed
individuals, who do not earn any income at all.
The Projected benefit of the TRAIN law, if any, still remains to be seen. In the meantime,
the government should do something to address the increasing inflation rate, as well as minimize
the impact of the TRAIN law. Besides, the government has still to issue the implementing rules
of the TRAIN law. While a wage earner who has an annual income of 250k is exempt from income
tax under the TRAIN law, thus increasing his net take home pay but this gains will be offsetted
by the increasing prices of electricity/water bill, food, & fare, etc.
From what I gathered, to continue generating funds, government increased the excise tax
on gasoline and other prime commodities that most of us in the upper and lower middle class as
well as the marginalized sector or the poorest of the poor normally patronize. It causes a domino
effect on transportation, manufacturing, supply and related costs, which ultimately results to
higher prices of goods and services. And definitely, whether we like it or not, we will end up at
the receiving end in the long run. Is the government on the right tract in pursuing this kind of
reform? Are they not suppose to improve the system in collecting taxes from professionals like
Doctors, Lawyers, et al? Much more, have they implemented reforms to ensure that corruption
in their agencies specifically the BIR is already abated or eradicated? Is there now a mechanism
to ensure that businesses, particularly the large ones, are paying their taxes correctly? I
understand it takes political will for a sitting President to institute reforms even if it means
colliding with the bigwigs in the corporate world. And I am strongly convinced that PDDR is
working on that direction. I just hope he won't succumb to pressures from different points who
may be lobbying to protect the interest of these Oligarchs.
Overall, the TRAIN law has good intentions but it is early to tell, whether the
TRAIN law is a bane or boon to the Philippine economy. However, the initial negative effect
of the law can now be felt by us. I hope that this is just temporary, and see the brighter side of the
purpose of the law; that is, 70% of the taxes collected will go to infrastructure development, the
“Build, Build, Build” program of Pres. Duterte, and the remaining 30% will go to education,
health, social services and programs for the poor- NOT to the pockets of some corrupt
government officials.