MANILA, Philippines – With presidential aspirants promising infrastructure and better services, the next question is: Where will the money come from?

President Rodrigo Duterte is set to leave the country with at least P13 trillion in debt, as the coronavirus pandemic caused revenue sources to shrink and forced higher spending on health.

At least one candidate, labor leader Leody de Guzman, is proposing wealth tax. After all, the billionaires have the money. (READ: Dominguez thumbs down wealth tax)

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PH’s mounting debt gives candidates’ economic promises a reality check

But will such a proposal even be tackled in Congress? Tycoons fund the campaigns of many politicians. 

Has there ever been a country that successfully implemented wealth tax?

Jairo Bolledo, the Rappler reporter who covers De Guzman, as well as Rappler’s regional coordinator Inday Espina-Varona and economist JC Punongbayan break down the issue. – Rappler.com