Teddy Casiño and His ‘Monkey’ Economic Solutions
- NOTE: I first posted the following on Facebook.
Scumbag Leninist/Maoist Teddy Casiño has just started campaigning… for senator.
His main political advocacy is freakin’ hilarious. Cory Aquino did not just bankrupt this third-world nation; through the party-list system, she also brought it closer to socialism. The Philippines is now up for grabs by the Leninists and Maoists.
From his Facebook page:
“At the moment, his main advocacy is the lowering of prices of electricity, oil and water as well as regulation in the price of education, healthcare, mobile communications, toll fees and other basic utilities and services.Toward this end, he has filed bills on the removal of VAT on power (HB 2719), oil (HB 1630) and toll fees (HB 5303) as well as the regulation of oil prices (HB 4355), mobile phone services (HB 5653), tuition fees (HB 1961) and interest rates (HB 4917). He has consistently opposed the budget cuts in our state colleges and universities as well as the privatization of our public hospitals and water districts.”
This is the very type of political scam that brought economic disasters to Greece and many third-world countries– the type of intellectual mediocrity that has been for years pushing our nation toward political and economic catastrophe.
Based on that campaign statement, Casiñoseeks to lower the prices of electricity, oil and water through the following political apparatuses:
- Price controls
- Removal of VAT, which is a good thing. Who dares oppose the removal of ‘some’ taxes? But they want…
- More government spending
Yes. They want more spending! How are we going to pay for their highly expanded welfare programs? Their solution? Pass more laws and regulations!
A lawmaker is not to be judged by the number of laws he passed! More laws mean more restrictions on our freedom. Cicero clearly understood this very basic, elementary principle 2,000 years ago. A lawmaker is to be judged by how he protects individual rights! Did he object to fascist laws and unsustainable welfare programs proposed by his colleagues? Did he say “NO” to the President’s tax plans? Did he oppose the Cybercrime law? Etcetera, etcetera.
Numbers 1, 2 and 4 are not going to solve poverty and pricing problems in the country. No amount of regulations, price controls and economic laws is going to cut the prices of commodities, particularly oil, electricity, Internet, healthcare and education. In fact, Casino’s proposed actions/measures would only aggravate our worsening economic ills. They’re not going to solve them; instead they would bring us closer to economic disaster.
The problem is, Casino doesn’t have the brain to understand the root of economic crisis in the country.
Currently we have the most expensive electricity in Asia. Why? First, because of our protectionism! Power crisis can’t be solved by simply passing laws. When we speak of the power/electricity sector, we speak of technology. We speak of innovators. We speak of people who have the minds and ability to introduce new ways to produce and distribute electricity to consumers. We speak of competition. We don’t speak of politicians who do NOTHING except spout vague generalities and empty political rhetoric.
Second, the Philippine power sector had long been monoplized, cartelized by the country’s ‘constitutional oligarchs’: the Independent Power Producers and the monopoly profiteers. The IPPs ABSOLUTELY FACE NO MARKET COMPETITION at all. Whether they produce electricity or not the taxpayers are legally obliged to pay. Every first year economics student ought to understand that lack of competition means lack of incentive for power producers to innovate and lack of market pressure to cut prices. This is the very outcome of the seemingly MANUFACTURED, PLANNED power crisis during the Cory Aquino era. Whether the power crises in the late 1980s and early 1990s were deliberately planned or not, what’s pretty clear is that this country doesn’t have a free market power sector.
Casino is the political monkey that tries to save a fish from drowning by putting it up on a tree. Regulations create unnecessary costs that manufacturers, producers or companies pass on to consumers. Take the case of the regulatory Biofuel Act of 2006 that requires oil companies to blend 5% of ethanol into gasoline. This regulation is in compliance with the global warming and environmentalist agenda of the globalist United Nations. Despite the absurd claim by government economists and regulators that this law will impact fuel prices, ethanol and the blending process inevitably add costs which oil firms will pass on to their consumers.
Casino’s solution is to make the oligarchs pay– and make everybody pay. Why, he’s a socialist! Price controls will also make things worse. What is there to control when the economic problems in these parts were actually caused by our Constitution and semi-fascist political system?
There’s no genuine market competition in the Philippines. Every industry is being controlled and monopolized by cronies and oligarchs.
You want cheaper electricity, Internet, oil, education, etc? Allow foreign investors to compete with our local industries. Allow foreign power companies to compete with our IPPs. Allow Japan and Korean Internet companies to compete with PLDT and Globe.
The solution is also to cut taxes, by half if necessary. The government needs to adopt a lower flat tax rate– 15% if necessary.
But economic freedom and economic competition remain unattainable without dismantling the Cory Aquino Constitution. The solutions are as follows:
- Revise the Charter
- Impose a 15% flat-tax rate (or lower), and abolish VAT, capital gains tax, estate tax, and others.
- Abolish tariffs
- Allow foreign investors to own lands. If foreigners can own lands in China, why can’t they own the lands here? The truth is, China is way more economically free than RP. Ironically, they’re more ‘capitalistic’ than the Philippines.
- Remove the 60-40 law and other protectionist measures. Fully allow foreign investors to be part of our economy.
- You want more affordable healthcare? Allow foreign doctors to practice here. Allow them to put up hospitals. This will largely benefit Filipino doctors. This is a good form of medical technology transfer.
- Lower spending. The people need jobs, not conditional cash transfer benefits. They need jobs, not RH services.
- Privatize all GOCCs, especially PAGCOR, NAPOCOR and the University of the Philippines.
That’s the only solution. Casino’s stupid solution is- that is- STUPID!