POLITICAL SCAMMERS

By Jose Alejandrino

HOW SCAMS WORK

You begin by stealing hundreds of millions if not billions from funds of sub-standard or non-existent flood control and other infra projects.

Because of the massive stealing, the BBM government is unable to provide the counterpart funds of foreign-assisted projects and has to resort to borrowings. Thus the national debt rose to ₱17.3-trillion pesos. Since there is a shortfall of half a trillion pesos, as announced recently by the Bureau of Treasury, BBM now announces he has to borrow another $800-million from the World Bank. Borrowings are IOUs of its citizens who have to repay them.

So the debt of citizens are incurred to pay for what was stolen by corrupt officials. What was stolen is the money of taxpayers and the same are now being transferred to them as their liabilities through borrowings. Isn’t this double taxation? Aren’t government borrowings meant to offset the shortfall in the budget due to money stolen? So why are citizens paying taxes? Shouldn’t citizens just stop paying taxes and let BBM keep borrowing money to fund a corrupt government?

The day BBM can no longer borrow because it cannot repay the interest on the debt is when corruption will stop because there is no more money to steal.

That day will also be the day when a social revolution will erupt because BBM has no more money to pay the salaries of government workers, soldiers, and policemen, all of whom will join the people in exercising People Power.

-- Jose Alejandrino

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