Wealth Tax on the Table? Marcos Team Opens Door to New Money Move

Malacañang said President Ferdinand Marcos Jr. is willing to study a possible wealth tax as the government looks at more ways to raise revenue amid the fuel-price crunch.

The idea came up after economist Winnie Monsod criticized the suspension of fuel excise taxes, saying that kind of relief can end up helping richer Filipinos more than the poor. Palace Press Officer Claire Castro said the President is open to reviewing all suggestions.

Castro also cited remarks from Department of Economy, Planning, and Development Secretary Arsenio Balisacan, who said a wealth tax is attractive in theory because it can slow the concentration of wealth and the political and economic power that comes with it.

Pero hindi raw simple ang ganitong move. Balisacan warned that countries such as Germany, France, and Sweden eventually dropped wealth taxes because they were hard to administer and did not always bring in much revenue.

He also said a tax targeting the super-rich could trigger capital flight, especially during an economic crisis. For now, the Palace is not committing to the policy yet, but it is clearly keeping the option alive while weighing other fiscal measures.

Source: https://www.manilatimes.net/2026/03/26/news/marcos-mulls-wealth-tax-as-revenue-measure-for-govt/2308212