Jack Peterson Posted October 9, 2018 Author Posted October 9, 2018 Well we all have our different thoughts and opinions, I have said mine so now, i will leave it up to the Armchair Economists to solve it all as I said it ai'nt hurtin me yet, I daresay the moans will come at some stage for now Link to comment Share on other sites More sharing options...
Rooster Posted October 9, 2018 Posted October 9, 2018 15 minutes ago, Jack Peterson said: Well we all have our different thoughts and opinions, I have said mine so now, i will leave it up to the Armchair Economists to solve it all as I said it ai'nt hurtin me yet, I daresay the moans will come at some stage for now Much of the domestic turmoil in the economy has to do with the Tax Reform for Acceleration and Inclusion (Train) law, which came into effect this year. It has raised taxes on many commodities, while lowering personal income tax and corporate income tax. https://www.scmp.com/week-asia/economics/article/2167169/weak-peso-rising-prices-hong-kongs-filipino-workers-take-hit Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted October 9, 2018 Posted October 9, 2018 Inflation? or Government GREED? How does a goverment gain from inflation ? 1 Link to comment Share on other sites More sharing options...
Foreigner Posted October 9, 2018 Posted October 9, 2018 57 minutes ago, Jollygoodfellow said: How does a goverment gain from inflation ? Unanticipated inflation benefits government because government gains tax revenue as nominal income increases. a. The increase' in nominal income pushes people into higher tax brackets. https://www3.nd.edu/~cwilber/econ504/504book/outln13c.html Link to comment Share on other sites More sharing options...
Jack Peterson Posted October 9, 2018 Author Posted October 9, 2018 (edited) 1 hour ago, Jollygoodfellow said: Inflation? or Government GREED? How does a goverment gain from inflation ? The normal benefits are: Increased personal tax revenue: Personal tax revenues and national insurance contributions increase as wages increase. They do so because governments rarely index higher tax thresholds in line with inflation – a concept called “fiscal drag”. http://inflationmatters.com/benefit-inflation-governments/ Now this is the UK but it follows Edited October 9, 2018 by Jack Peterson must get a new spell check LOL Link to comment Share on other sites More sharing options...
OnMyWay Posted October 9, 2018 Posted October 9, 2018 It could be worse! Venezuela's 2018 Inflation to Hit 1.37 Million Percent, IMF Says Fund sees consumer prices rising 10 million percent in 2019 https://www.bloomberg.com/news/articles/2018-10-09/venezuela-s-2018-inflation-to-hit-1-37-million-percent-imf-says Link to comment Share on other sites More sharing options...
Jack Peterson Posted October 9, 2018 Author Posted October 9, 2018 14 minutes ago, Foreigner said: How does a goverment gain from inflation ? Something that was mentioned by my Wife and Colleagues not long ago and Governments gain on this Link to comment Share on other sites More sharing options...
Jack Peterson Posted October 9, 2018 Author Posted October 9, 2018 3 minutes ago, OnMyWay said: It could be worse! Link to comment Share on other sites More sharing options...
Foreigner Posted October 9, 2018 Posted October 9, 2018 2 hours ago, Jack Peterson said: 2 hours ago, Foreigner said: How does a goverment gain from inflation ? I never said (asked) this. I was quoting JGF. Link to comment Share on other sites More sharing options...
bastonjock Posted October 9, 2018 Posted October 9, 2018 I can vouch on the cost of building materials going up Ive had to purchase all of my materials for my jungle hut and cut down on the number of bedrooms Ive seen real on the ground comments about the price of rice increasing and a referrence to some wholesalers holding their prices , if the locals are hoping that the price of a kilo of rice does not increase by a few pesos, then its definately hitting the guys on the ground My gf had to pay tax on my piece of land and it has been valued at 800k more than i paid for it ,so the tax bill also went up and the tax office explained that they were raising money to pay for all the new roads etc. Ill go with the theory that a lot of the inflation os being caused by the weak peso , the Philippines imports a lot of food and that and items like fuel have a direct effect on prices Link to comment Share on other sites More sharing options...
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