TICKETS TO SALVATION

Grand Lotto bettors resort to Lucky Picks

abs-cbnNEWS.com

Posted at 04/30/2011 11:58 PM | Updated as of 05/01/2011 8:38 PM

MANILA, Philippines - No one won the P158 million Grand Lotto jackpot on Saturday, the Philippine Charity Sweepstakes Office (PCSO) said.

The winning numbers, in any order, are: 24-25-48-34-03-23. 

 Interest in the Grand Lotto has risen again as the jackpot keeps rising.
Many bettors have resorted to Lucky Picks (LP)--machine-generated numbers--the same strategy used by the winner of the biggest lotto prize in Philippine history.
In December 2010, a balikbayan won more than P741 million after correctly guessing the Grand Lotto winning numbers via a Lucky Pick

REACTION The Lotto fever is everywhere. Throughout the country, betting at lotteries become a usual habit. When the prizes soars high amounting to millions, people become eager to bet more. This phenomena is the usual scene at betting outlets and the craze is not only in the ou region but all over the country.

What then is the motivating factor why Filipinos are hooked to lotteries ? Is it their desire to just engage in gambling as a habit or their wishful dream to become rich instantly?

Obviously, the desire to solve financial problems is the number one factor that leads people to bet on lotteries. The lotto seems to be their salvation from privation and the solution of their many financial set backs. Most people want to solve these problems and lotto seems to be the great solution. That is the reason why people flock to betting outlets especially when the prizes are in millions.

Lotto in someways could be a big help in the government's project in eradicating poverty, some percentage of the tickets you bought will be going to charities and the remaining will be rendered to the improvement of public utilities and infrastructures. But does it improves your life financially? Probably yes, if you win! But in my own opinion lottery only gives hope, it does not resolve your financial drawbacks because the more you are hooked in it , a lot of 20 pesos will be gone in your pocket, and if you lose you will end up having no money and will have a lot of financial burden because your budget in adhering your basic necessities have been already diminished until such time there will be nothing left for you. But due to the present economic status of our country where there is always an increase in the market prices and there's no increase in the compensation of workers, people are now sacrificing their tummies just to have a chance of being an instant millionaire.

Lotteries or any form of gambling is a big “no no” for a student like me, because students still asked money from their parents, they don't have any source of income yet. Engaging in gambling can disrupt students plans in the future, there will be a lot of consequences if a student like me engage into gambling. First, increasing preoccupation with gambling. Second, restlessness or irritability when attempting to stop. Lastly, loss of control that is manifested by the continuation of gambling in spite of mounting negative consequences. Problem in gambling causes disruptions in psychological social, and educational areas of life. It can result in poor concentration, low grades, absenteeism, and social and behavior problems in school. If you think Lotteries can make your life better, think twice, it has only 50/50 chances of winning, it doesn't give you the assurance that you will become a wealthy man instanly.

SIN TAXES

Gov't looks at raising 'sin taxes'

abs-cbnNEWS.com

Posted at 04/17/2011 2:56 PM | Updated as of 04/17/2011 6:18 PM

MANILA, Philippines – The government is more keen on raising "sin taxes" than value-added tax (VAT) to increase revenues, a Department of Finance (DOF) official said.

DOF Undersecretary Gil Beltran said in a statement that the government is looking into the passage of a bill that will impose higher taxes on sin products like alcohol and tobacco to help contain the government's budget deficit.
Beltran said the bill may be filed in Congress next year.
"We have started looking at the revenue impacts of several proposed tax measures, and by next year, we will start filing [new bills]," he said.
In its first year, the Aquino administration has been running after alleged tax evaders to boost state revenue without raising taxes.
Finance Secretary Cesar Purisima earlier said the government wants to plug tax leaks before introducing new tax measures, including raising sin taxes.
Aquino has ordered no higher tax hikes until the government has managed to plug tax leaks, Purisima added.
"Down the road, I would like us to go to Congress, but after we have done our homework then we will have the moral ascendancy to ask for increases," he said.
Last month, legislators submitted a proposal to reform the sin-tax structure, which will raise excise collection from the cigarette industry.

Eyeing an 83% rise in cigarette prices from where they are at present, lawmakers Niel Tupas and Dina Abad of the Liberal Party said the government can generate nearly P200 billion from sin taxes over a 3-year period plan.
The proponents are seeking to get the bill passed soon, so the project can start next year.
The government will go through the plan, despite then-presidential candidate Aquino’s promise that no new or higher taxes will be imposed in his term.

Reaction:Sin taxes are state-sponsored tax that is added to products or services that are seen as vices, it is typically added to liquor and cigarettes. Would it be beneficial to the people of this nation? Yes of course. it will be beneficial in reducing harmful behaviors and increasing tax revenue.

 Sin taxes would be beneficial in reducing behaviors that is harmful to society and to the individual and at the same time raise a little money for the state. For instance, using tobacco and drinking alcohol is usually associated with various health problems such as cancer and heart disease. Imposing high taxes on cigarettes reduces the amount of tobacco consumers who can afford, which may in turn reduce the negative health impacts of smoking. It would also help the state to increase it's tax revenues  because it generate an enormous amount of revenue and are usually easily accepted  by the general public because they are indirect taxes that only affect those who use the products.

I would be happy if the government will go / impose the raising sin taxes because it will give a way in the reduction of my father's daily consumption of cigarettes since it is already a part of his daily routines, and the decrease of his cigarette consumption would lead to the increase of my allowance for clothing, transportation and school related fees. It would also be beneficial for me as a person who has a weak immune system because it would lessen the risk that I could get from second hand smoking, and to avoid from hospitalization so the budget intended for family expenses will as ease. If Sin taxes will be imposed and implemented wisely in the place where I'm living, the way of living will become more productive because the accumulated sin taxes will be used or utilized for the improvement of public utilities or government projects that aims the elimination of poverty. 

If this recommendation will be realized it gives us a best result in our community or the nation as well. It will help to improve the economic status of the country.

MIDLE EAST HITS PHILIPPINES

The Effect of The Middle East Crisis on

                Philippine Economy

                                             by: Wenefreo Melencion

 

The Middle East crisis which started in Egypt and now in Libya is giving our people so much problem. The prices of basic commodities have ballooned as expected, but the worst of them all is the plight of our overseas workers who are now jobless with nothing in their purses.

We have hundreds of thousands overseas workers scattered all over the vast deserts of the Middle East, and these modern heroes as we aptly call them are helping greatly our economic recovery through their remittances to their families over here in the Philippines. Millions of dollars sent monthly by our workers abroad made our reserves alive and kicking.

No less than our gave personal instruction to the agencies concerned not to dilly-dally its efforts in bringing back to our country our workers who have done so much for our economic recovery. This is a manifestation of our leader’s acknowledgment of the contribution that these people have tendered toward our stability.

Our affected workers who have undergone gruesome journey in getting through checkpoints of armed rebels could only nod their heads in disappointments on the unexpected tragic turn of events in their lives. The Libyan dinars in their purses could not even buy them chocolates for their loved ones as no forex counter would gamble to exchange them with U.S.dollars or with our own currency. Thanks to the Philippine Central Bank for deciding to exchange the dinars brought by the repatriated Filipinos, but to a very limited extent of only P10,000 per returnee.
Upon retrospection, we can almost conclude that the crisis in the Middle East will go like a wildfire. It started in Tunisia, crept to Egypt, and now Libya. There are rumors that Saudi Arabians will soon follow suit. If this infamous event now rampaging Libya finds its way finally to Saudi Arabia where about half a million of our countrymen are employed, I cannot imagine how our president would react to it . . .

Reaction : The Middle east crisis created economic problems in our country, mainly, the problem on oil price hike. Eventhough Libya is not the country's primary source of petroleum we are still affected of what is happening there because countries who purchased oil in Libya chose to have their source of petroleum in other oil producing countries such as Saudi Arabia, who is unfortunately Philippines primary source of petroleum. Since the supply is limited and the demand is high, oil producing countries will be forced to increased their market value of petroleum that will result to an oil price hike and an increase of the market value of goods and services. The increase of products market value affects our purchasing capacity, it will forced us cutting corners of our budgets and  end-up buying cheaper goods that does not satisfy our basic necessities.

Another problem is thousands of our overseas workers are jobless. Returning of OFW's here lessens the revenue of the country because they pay taxes to our government through their income abroad and these taxes coming from them could be a big help for improving our economic status, improving our country's facilities and physical features, and increasing salaries of the workers.

At this early, we could already feel the unfavorable manifestation of this global crisis in our daily lives such as high fare for the transportation due to oil price hikes, high priced products , and  increase of unemployment statistics .  We just hope and implore the aid of the of Almighty God up there to extend His blessed hands to calm the situation and restore peace in middle east because we are not yet ready to give up our workers abroad.