Economic Sabotage and Poverty Reaction Paper

Topics: Poverty, Juan Ponce Enrile, Economics Pages: 3 (905 words) Published: September 10, 2012
Economic Sabotage: A Hindrance to the Economy
Most of us has noticed, that despite of the many programs implemented by the government, we still cannot feel, us being ordinary Filipinos, the economy rising. Blaming again the government? Think again. Although it’s true that the government has some discrepancies, there are other big factors which contribute in the possible decline of the economy. And one of them is the so-called, economic sabotage

Economic sabotage, according to the documentary that we’ve watched, is an act of undermining the economy of a nation. It is a tactic to pressure the local producers to produce more, where in fact they have no match to those who have prices that attracts customers. Also, it damages the economic stability of a nation, since more people buy those products which are smuggled, tax free, and the consumers are unaware about it. And because of this, those products which are imposed with taxes are ignored, thereby affecting the economic stability of the country. But, importantly, economic sabotage also includes businesses which have unexplainable prices, making common people hard to budget their money for their everyday living. These effects make an economy harder to stabilize and rise up.

One of the examples of economic sabotage, according to the documentary, is the collection of cars of senator Juan Ponce Enrile, in Sta. Ana, Cagayan. According to some officials, most of the cars there are smuggled, meaning tax free. This can greatly affect the economy, since the cars did not undergo inspection, and the cars are tax free, meaning no money was received by the government upon buying those products, supposedly to be use in public service.

Another given example by the documentary is the oil deregulation law, which greatly affects the price of oil. “RA 8479 prohibited government interference with any market aspect of the oil industry, including pricing, import and export processes and facilities and the establishment of...
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