The Freedom from Debt Coalition proposes a wealth tax to fund the needs of the poor amid the pandemic.
They want people who have a net worth of P2.5 billion to be taxed 3.75% more than what they are currently paying.
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FDC says if the 50 richest Filipinos are taxed more, it will generate P112 billion in gov't revenues yearly.
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FDC based their computation from Forbes 2021 rich list.
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