"Tax 'em more"

How many businessmen in the country who are willing to pay more taxes than it can afford? Well, only an imbecile would do so. I think I heard you say "What a question!"

But think again, there is a growing momentum in the US where the rich have begged President Obama to keep taxes high on them. One such guy is Guy Saperstein, a retired California trial lawyer who organized the effort and even said that he was "frustrated" over Obama's "wavering" pledge to end tax cuts for the wealthy says a report from the Agence France Press posted in Yahoo.com.

The movement believes that Members of Congress is voting to extend the tax cut for the wealthiest Americans which has been adopted since the Bush Administration.

Saperstein also says that "In hard times, the top strata who have done fabulously well need to sacrifice a bit, and it's not much of a sacrifice...We have among the lowest tax rates of any industrialized democracy." Likewise, a French-born US businessman who founded Computervision in the 1960s and head of Grain Pro, says he signed the letter even if it means higher taxes for himself. "I don't think (extending the tax cuts for the wealthy) are fair or in the interest of building a strong economy." The report adds.

The movement has already gained signups from some of the wealthiest Americans including Ben Cohen founder of Ben & Jerry's Homemade Ice Cream. The famous American industrialist Warren Buffet also supports the idea that "I think that people at the high end -- people like myself -- should be paying a lot more in taxes. We have it better than we've ever had it," Buffett said in an ABC News interview.

Jim Nunns, a senior fellow with the Tax Policy Center of the Brookings Institution and Urban Institute, also said there is a growing interest to raise taxes on the wealthy "because they've captured most of the growth in incomes over the last 30 to 40 years," creating a wider rich-poor gap.

While others want to pay more, here we even forgive those who are unwilling even to pay less. If you remember some two years ago, RA 9480 or the Tax Amnesty Law was enacted to spare some of the top companies from suits involving tax deficiencies by simply paying "the tax amnesty fee." No sweat!

The Philippines is one of the lowest in terms of taxation for both domestic and foreign corporations and is based on net taxable income. Our tax laws also exclude (from the income tax) dividends received from domestic corporations; interest on Philippine currency bank deposit and yield or any other monetary benefit from deposit substitutes and from trust funds and similar arrangements.

Best of it all, the country comes up with tax holidays and perks to encourage new investments. But why of all whys, many businesses find it hard to pay the right taxes to the government?

Corruption has always been made as an easy excuse for many a businessman to refuse paying taxes. When in truth, they are as greedy as those bureaucrats who pocket tax-payer's money. To pay taxes is not only a social obligation but also a moral responsibility. No matter how suspicious we are as to where our taxes go, we must, at the behest of our conscience, give what is due to Caesar and let the wheel of vigilance and justice take their course to deal with them later.

But let us assume if the country's rich are honest with their taxes, are they willing to follow the US example? It's a tough call. For the longest time, I have no memory of a corporation or a chamber of commerce that has not advocated for lower taxes nor anyone in business who has ever been satisfied with our tax rates despite the fact that it is one of the most competitive in the world.

Even for love of country, to ask a profitable business here to pay more taxes is next to impossible…I just hope that I am wrong.

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