“Aquino: No new taxes yet.” This was the BusinessMirror’s headline on 27 June 2011.
How should the statement of President Noy Aquino be interpreted? Should we—those who support an increase in taxes—be dismayed over the statement?
Of course, for vested interests—e.g., the manufacturers of sin (alcohol and tobacco) products—the statement is welcome news. They will emphasize the phrase “no new taxes.”