A progressive group is seeing no problem with the proposed sovereign wealth fund or Maharlika Investment Fund if the money for it would come from a wealth tax and not from income generated by state-owned insurers. | GabrielLaluINQ
“Kung may wealth tax tayo, iyon ‘yung pwedeng pagkuhanan ng surplus for investment sa Sovereign Wealth Fund. ‘Wag natin gamitin ang pondong hindi natin kayang mawala/mawaldas sa maling investment,” she added.
“Using worker’s pension funds for the Maharlika Wealth Fund amounts to privatization of these funds for use in speculative economic activities. This could lead to the investment of hard-earned money into activities that do not directly lead to economic and industrial development, instead towards toxic and potentially dangerous assets,” Coronacion stressed.
Under House Bill No. 6398, the government would mainly utilize funds from government-owned and controlled corporations to create a pooled budget that the proposed Maharlika Investment Corp. will tap to make investments here and abroad. “If the Marcos administration is sincere in uplifting the quality of life of Filipinos, it should not introduce measures that would endanger their hard earned money and pension for their retirement. The administration should instead impose a wealth tax on the super rich who can afford to shell out money without even affecting their lavish lifestyles,” Castro said.
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