Study of the haitian american ethnic group

Study of the haitian american ethnic group Ignorance is not knowing or being aware of something, when one is ill informed one tends to create assumptions and attitudes towards people and things one does not know or understand. My general assumptions about the Haitian community were that they think of women as inferior, they live together in great numbers and they keep to their own race. The overall opinions I had formed were based on experiences with my co-workers. Through my research for this assignment on ethnic groups not only have I been proven wrong about my assumptions, but I have learned a great deal about the Haitian culture. Becoming more educated and compassionate about the Haitian culture will make me a better teacher because of the vast Haitian population in the state of Florida. How did Haitians become part of American society? How well are Haitians integrated today? How did this voluntary group come to the U.S.? How equitably have Haitians been treated during their tenure in the U.S.? What is the current status (socioeconomic, political, educational, social) of Haitians in the U.S. today? What difficulties have Haitians faced and why? How did Haitians attempt to overcome any difficulties faced? To what degree do Haitians feel a connection to people from a similar background in other parts of the world? Why? Where do Haitian Americans stand in terms of receiving equal educational opportunities at the elementary, secondary and tertiary levels? How can educational equity be achieved for Haitian Americans, what needs to be done? How did Haitians become part of American society? During the 1790s, Haiti was the most affluent of the French colonies. It was then that the black populace of the island revolted against slavery and there was a panicked exodus (everydayculture.com). Thousands of whites, free blacks, and slaves fled to American seaports, culminating in large French-speaking communities in New Orleans, Norfolk, Baltimore, New York City, and Boston (everydayculture.com). Immigrants from Haiti who arrived in the United States during the eighteenth and nineteenth centuries were determined to survive in their new land (everydayculture.com). There have been a total of four large migration waves of Haitians coming into the United (Catanese 1998, p19). In the period prior and up to 1970 about 30,084 Haitians came to the U.S. In the period of the 1970 to 1980 about 59,965 Haitians came to the U.S. From 1980 to 1986 93,691 people from the island immigrated to this country and in 1987 through 1990 24,796 Haitians came to the U.S. (Catanese 1998, p19). The peopl e who have voluntarily come from the country of Haiti to the US have done so for years because of its political troubles and unstable economy (Catanese 1998, p19). The instability of the government made it hard for the economy as well as the people to achieve their greatest potential. The overwhelming majority of the Haitian people go to New York and Florida. About 70% of the Haitian community resides in these two regions (Catanese 1998, p19). The close proximity of Florida to the Republic of Haiti makes it an ideal place for them to settle. The great numbers of Haitians in Florida have made for a thriving Haitian community in the area. How well are Haitians integrated today? In the past the color of their skin and language problems made it increasingly more difficult for them to assimilate into the dominant culture (Vilme, H., Butler, W., 2004). First generation Haitian adolescent high school students identify themselves as Haitian, and manifest pride in their heritage Vilme, H., Butler, W., 2004). As of 2010 many of the second generation Haitians are integrated into our community. It is very apparent here in the state of Florida how many Haitians are making their mark. One great example is that of, Major Joseph Bernadel, who is one of two founders of the Toussaint Louverture High School for Arts and Social Justice. He is the first Haitian to open up a school not only in Florida but in the US. Presently there are four Haitians in the state legislator and soon there will be a Haitian American in congress. One of these is Phillip J. Brutus, a state representative to the Florida legislature. Brutus is the first Haitian-American elected to the Florida statehouse; he represents the 108th district in Miami (npr.org.). As Haitians continue to become a great part of our educational system and play in even greater role in government they will continue to strongly integrate themselves within the community. How did this voluntary group come to the U.S.? Haitian immigration to the United States can be viewed in terms of specific waves, each being associated with repressive conditions in Haiti (Catanese 1998, p19; Vilme, H., Butler, W., 2004). The first wave began in 1957 following Francois Papa Doc Duvaliers rise to power (Catanese 1998, p19; Vilme, H., Butler, W., 2004). These immigrants were members of the well-educated political and economic elite, planning to return to Haiti after the ouster of Duvalier (Stepick, 1998; Vilme, H., Butler, W., 2004). The second wave of immigrants, who came during the late 1960s through the early 1980s, was skilled laborers from the Haitian middle class (Stepick, 1998; Vilme, H., Butler, W., 2004). The next wave of immigrants became known as the Haitian boat people, who were mostly lower class laborers (Vilme, H., Butler, W., 2004) How equitably have Haitians been treated during their tenure in the U.S.? Equity in education for Haitian students is improving more as the number of Haitian students in our schools increases. All schools offer ESOL programs for the students who come from Haiti but not all schools have Haitian speaking instructors that would ease their transition into the curriculum. A grave misconception is that Haitian students can speak and communicate in French, although Creole is derived from French it is a combination of this as well as other languages and dialects of the Taino and African culture. Recent studies show that these students face a multitude of problems other than the language barrier (Buxton, C., Lee, O., Mahotiere, M, 2007). Those problems are their little education or lack thereof in Haiti (Buxton, C., Lee, O., Mahotiere, M, 2007). This creates several problems for these students when faced with the challenge of not only learning a new language but also with trying to keep up with grade level academic standards and goals. In one study based on Haiti an teachers, parents and Haitian students that attended schools both in Haiti and the US; it was found that for the most part, as it refers to language that these students were inclined to learn multiple languages, they have an eagerness to become multicultural, as well as build strong ties and participate within the community (Buxton, C., Lee, O., Mahotiere, M, 2007). A stronger community is a great asset for those that are already settled and even more so for those who intent to settle here in the future. What is the current status (socioeconomic, political, educational, and social) of Haitians in the U.S. today? Like most immigrants in the United States, Haitians are busy in the pursuit of the American dream (everydayculture.com). Almost every Haitian American wishes to buy a home as a matter of status and security; this is implied in the saying, Se vagabon ki loue kay, which means, Respectable people dont rent(everydayculture.com). However, behind the facade of pride and achievement, there is a litany of social problems-battered women, homeless families, and economic exploitation (everydayculture.com). The problems that face Haitian immigrants are enormous and complex (everydayculture.com).The majority of people in the Haitian community do jobs such as housekeepers, cooks, drivers, janitors and such related fields of work. Most recently migrations have brought many middle class citizens to the US from Haiti (Catanese 1998, p19). As people from a more diverse socioeconomic status come over from Haiti it creates a more diverse group within the community. These teachers, entrepreneurs, doctors and other people of such professions are working towards playing greater roles within the Haitian community. What difficulties have Haitians faced and why? One greater problem faced by the US government as it relates to the Haitian communities is its possible undercount because of what our definition is of a household. Not having an accurate count limits the governments abilities to provide necessary assistance to the members of the Haitian community. The sharing of several homes is common place within the new immigrant communities, these structures are customs brought over from Haiti (Portes, A., Rumbaut, R. G. 2001). It is common to have extended family living under one roof and having many people in the community share common areas (Buxton, C., Lee, O., Mahotiere, M, 2007). As more services become available it will further improve educational and social settings for the Haitian community so that they can play a greater role within their community. How are Haitians attempting to overcome any difficulties faced? The way for any society to overcome their difficulties and become more prominent within their society is through education. As more Haitian Americans become bigger voices within education, politics and their community they will continue to overcome the difficulties they face. Michel S. Laguerre, an anthropologist in the Department of Afro-American Studies, University of California at Berkeley, has researched many aspects of Haitian American life and has published numerous books and articles (http://www.everyculture.com). Tekle Mariam Woldemikael, a sociologist in the Department of Sociology and Anthropology at Whittier College in Whittier, California, has written several studies concerning Haitian Americans (http://www.everyculture.com). Carole M. Berotte Joseph, who was born in Port-au-Prince and came to the U.S. in 1957, is the Assistant Dean and Director of the Office of Student Services at the City College School of Education in New York City where she is an authority on bilingua l and foreign language teaching; she is a founder of the International Alliance for Haiti, Inc (http://www.everyculture.com). Michaelle Vincent, the District Supervisor Bilingual and Foreign Language Skills of the Dade County (Florida) Public Schools, is a consultant on Haitian culture and the Creole language, developing and implementing seminars on Haitian culture; she also hosted a daily radio show in Haitian Creole on WLRN in Miami (http://www.everyculture.com). To what degree do Haitians feel a connection to people from a similar background in other parts of the world? Why? In many races it is somewhat common to feel that you share some sort of culture and language with another group of people. For example, the Cuban and Puerto Rican people share many things between them such as food, language, and even similar flags. This is not so for the Haitian community. The language of Creole spoken in their country is not shared by any other and while all Caribbean foods are similar none are the same. Haitians face an identity dilemma in the United States; although they are different in national origin, they are almost physically indistinguishable from other black Americans (http://www.everyculture.com). They cannot easily merge with the rest of the black population because of their language and culture; Haitian Americans perceive differences between themselves and other blacks (http://www.everyculture.com). Most seek a middle ground between being merged with the rest of the black population and complete isolation. Haitian language and culture are preserved at ho me, which makes it possible for Haitian immigrants to separate themselves from the Afro-American culture around them (http://www.everyculture.com). They adapt to the dominant American culture while retaining their distinctive lifestyle at home (http://www.everyculture.com). The people of Haiti feel no real connection towards any other group. While the Dominican Republic is its next door neighbor to Haiti, these two countries have had strife for centuries making it impossible for the two groups two find a common ground. Overall, my research suggests that the Haitian people feel no connection with any other group. Where do Haitian Americans stand in terms of receiving equal educational opportunities at the elementary, secondary and tertiary levels? Due to the high population of Haitians here in Florida the school system continues to make efforts to improve the educational quality for these people. Implementing Haitian history within the curriculum also helps Haitian American students feel more integrated in the educational system (http://www.palmbeach.k12.fl.us). Presently most programs offered are for Hispanic students because of their great numbers as it relates to the school system. Other than ESOL I did not find any other programs for the Haitian American students. In Miami Dade county there is the Toussaint Louverture Elementary, named so in under of the leader of their greatest revolution. In Boynton Beach there is the Toussaint Louverture School for the Arts and Social Justice, this High school meets the needs of Haitian immigrants and Haitian American students the curriculum is taught in both Creole and English. How can educational equity be achieved for Haitian Americans, what needs to be done? As of right now educational equity has not been met, but as we step into the future more Haitian Americans are becoming teachers and advocates for better opportunities for the Haitian American community. The presence of more Haitian American teachers will improve the quality as well as the educational opportunities for the future generations within the Haitian community. For there to be an improvement for this group we as teachers, not matter what the race, should encourage higher education and emphasize how being educated not only opens doors for one self but also for those who may follow in our footsteps. Conclusion Learning about this ethnic group has opened my eyes and cleared up my misconceptions. I have learned that for the most part we are not doing all we could to improve education for Haitians. I have also learned that what I might think as strange is merely part of the culture. As educators in Florida we must help all students to reach their full potential no matter what cultural differences we may share. Being more knowledgeable on Haitian Americans will make me a better teacher especially because of the vast number of Haitian American students in the Florida school system. In the future I will try to clear up any misconceptions I might have about a group by doing some simple research. Annotated Bibliography Academic Journals Buxton, C., Lee, O., Mahotiere, M. (2007). The Role of Language in Academic and Social Transition of Haitian Children and Their Parents to Urban U.S. Schools. Bilingual Research Journal, 31(1/2), 47-74. Retrieved April 9, 2010, from Education Full Text database. This article talks about the social structure of the Haitian family, their culture and their transition into the American educational system. Catanese, A V  (Sept-Oct 1998).  Haitian Americans.  Ã‚  Migration World Magazine,  26,  5.  p.19 (5).  Retrieved April 9, 2010, from Education Full Text database. This article gives the demographic profile of Haitian Americans. It gives specific data about the migrations of Haitian to the U.S. as well as family, education, and economic information etc. Portes, A., Rumbaut, R. G. (2001). Ethnicities: Children of Immigrants in America. Berkeley: University of California Press. Retrieved April 9, 2010, from Education Full Text database. This article discusses the disadvantages suffered by Haitian immigrants and their familys migrant workers. Vilme, H., Butler, W. (2004). The Ethnic Identity of First Generation Haitian High School Students in Miami, Florida. The Negro Educational Review, 55(2/3), 137-42. Retrieved April 9, 2010, from Education Full Text database. This article talks about the experiences and educational opportunities of forts generation Haitian students in Miami. Books Stepick, A. (1998). Pride and Prejudice Haitians in the United States. Massachusetts: Allyn and Bacon. This book is about Haitian immigrants struggles, cultural identity, school, and politics within America society. Internet Department of Multicultural Education, Palm Beach County: Charlemagne Baptiste and Bito David. (May 2004). Haitian Americans. In Haitian/Haitian American Curriculum Teacher/Student ResourcesK-12. Retrieved April 2010, from http://www.palmbeach.k12.fl.us/Multicultural/curriculum/Haiti/HaitianStudiesResources.pdf. Lisa Simeone. (Dec 2000). Haitian -American Legislator. In NPR news. Retrieved April 2010, from http://www.npr.org/templates/story/story.php?storyId=1114870. Felix Eme Unaeze and Richard E. Perrin. (2010). Haitian Americans. In Everyday Culture. Retrieved April 2010, from http://www.everyculture.com/multi/Du-Ha/Haitian-Americans.html.

Philosophy of Teaching Statement :: Education Teaching Teachers Essays

Philosophy of Teaching Statement I believe that the key to a good education begins with the teacher. The first impression that a teacher leaves on a student will be carried with them throughout their entire education, therefore as a teacher we should be careful with giving negative feedback. Small children take everything to heart and believe every thing they hear. It is important that we praise them often. Let every child know that they have the potential to do and be anything they want to do. Working as a substitute teacher’s aide all over the county has allowed me to observe the nature of students that come from a wide variety of backgrounds. A child that comes from a more advantaged lifestyle does not necessarily mean that, that child will excel in school. Sometimes the child that comes form the poorest conditions is the hardest worker. Children who excel in Math may find themselves bored in an English class. I have seen students that are completely lazy, that refuse to accept any challenge. On the other hand, I have observed students who just appear lazy, that are really intelligent but cannot seem to get a grasp on learning. Then again there are students who are so intelligent that they excel in everything. Some students seem to have so much rage inside of them, that it difficult for them to concentrate and learn. While others are calm, absorbing everything that is being taught. I feel that all students can learn it is just a matter of finding a way of teaching that is interesting to them but will still hold the attention of the others in the classroom. The overall purpose of education is to guide students in the direction of future leadership. To ensure that they will be able to be role models for the next generation. If a teacher shows a child that learning is fun, then hopefully these children will see the importance in learning, and maybe grow up to want to teach also. To allow students to be the best at whatever they choose to be. I feel that being able to read and write is what the world is based on. If you cannot read, you are denied the simplest pleasures in life. Like reading road signs, to gain information about the direction that you traveling or reading recipes to prepare a meal.

Economic Crisis and Response in the Philippines Essay

The Global Economic Crisis pulled countries down from around the globe to a recession. Wide-ranging declines in many aspects of growth characterize the overall impact it had had on the global scale. Following the Asian economic crisis in 1997, the present global economic crisis imposes new challenges to the Philippines as a developing country. Following are expositions of the macroeconomic impacts of the crisis in the Philippine setting, its implications in the prevalent poverty scenario, and policies and programs undertaken by the government in response to the crisis. Overview of the Global Economic Crisis The 2008 global economic crisis started upon the bursting of the US housing bubble, which was followed by bankruptcies, bailouts, foreclosures, and takeovers of financial institutions and national governments. During a period of housing and credit booms, banks encouraged lending to home owners by a considerably high amount without appropriate level of transparency and financial supervision. As interest rates rose in mid-2007, housing prices dropped extensively, and all institutions that borrowed and invested found themselves suffering significant losses. Financial institutions, insurance companies, and investment houses declared either declared bankruptcies or had to be rescued financially. Economies worldwide slowed during this period and entered to a recession. The crisis, initially financial in nature, has now taken a full-blown economic and global scale affecting every country to the left and to the right of the United States, and wreaking havoc in the level of both industrialize d and developing nations. The Philippine Situation before the Crisis The Philippines has long been undermined with long-term structural problems such that sustainable economic development is yet to be a dream come true. According to the pages of Philippine economic history, the country has been dominated by a sequence of growth spurts, brief and mediocre, followed by shard to very-sharp, severe, and extended downturns—a cycle that came to be known as the boom-bust cycle. As such, economic growth record of the country has been disappointing in comparison with its East Asian counterparts in terms of per capita GDP. What makes matters worse is the seemingly perennial  impoverished state of its inhabitants, that is, in 2007, an absolute poverty incidence of 13.2 percent—higher than Indonesia’s 7.7 and Vietnam’s 8.4 percent—has been recorded, and thus giving further testimony of the unequal distribution of wealth that keeps growth and development a far reach for the Philippines. Macroeconomic Impacts of the Crisis The Philippines, points Professor Diokno of the University of the Philippines, has been affected by the crisis in a decline in three aspects: exports, remittances from overseas Filipino workers, and foreign direct investments. Heavily dependent on electronic and semiconductor exports, the Philippines has seen a downward trend in its export earnings as countries in demand of these exports are now in recession. The recession has also put to risk the jobs in the developed countries which include those where migrant workers are employed. Consequently, OFW remittances decreased and grew a meagre 3.3% in October 2008. Foreign direct investments (FDI) lowered because of investors losing confidence in the financial market. Lower FDIs mean slower economic growth. Impacts of Asset Markets, Financial Sector, and Real Sector The freeze in liquidity in US and European financial markets reversed capital flows to developing countries and induced a rise in the price of risk which entailed a drop in equity prices andexchange rate volatility. However, following the effects of an increase in the foreign currency government bond spread, the Philippine stock market was actually one of the least affected by the crisis with the main index of the stock market dropping only by 24 percent, a relatively low percentage change in comparison to those of other countries across Asia. Similarly, from the period between July 2008 and January 2009, the peso devaluated only by 3 percent which explains why the peso was one of the currencies least affected by the crisis. This minimal effect on the stock market and the Philippine peso can be attributed to the recovery of asset prices across the Asia-Pacific region recovered in early 2009 as foreign portfolio investments surged. Financially, the banking system in the Philippines has been relatively stable, because of reforms that were put in place since Asian financial crisis in 1997. Maintenance of high levels of loan to deposit ratios together with the decline of the ratio  of nonperforming loans to total loans kept profitability of local banking generally high despite the crisis. To the country’s fortune, no meltdowns occurred as during the previous 1997 Asian crisis. Fall in the growth rate of personal consumption and expenditures and fixed investment assail 2008. Personal consumption expenditure, the largest contributor to GDP growth, behaved a downward trend from a sharp drop from 5.8 percent in 2007 to 4.7 percent in 2008, and 3.7 percent in 2009. GDP growth during fourth quarter of 2008 and first quarter of 2009 fell to 1.7 percent, a staggering fall from 5.7 percent average for the three previous years. Furthermore, a contraction of 29.2 percent in the manufacturing sector involving electricity, gas, water, trade and finance services. The service sector also had its share of downturns as growth in the fourth quarter and first quarters of 2008 and 2009, respectively, suffered from a meagre growth of 2.1 percent, a far contrast from the 6.7 percent average from the last three years. However, the Philippines has generally endured the least declines in comparison with other East Asian countries despite recorded declines. For instance, OFW remittances, though at a slower pace, still grew in the first half of 2009. Impact of fiscal deficit and external accounts To counter adverse effects of the crisis, the Philippine government felt the need to increase its expenditures. Apart from government expenditure, of primary concern was the weak revenues generated by the government with fiscal deficit reaching P111.8 billion in the first quarter of 2009 as compared to P25.8 billion in the same period of the previous year. Despite suffering the least in terms of the stock exchange and financial markets among East Asian countries, the Philippines lagged in tax effort in comparison to other nations. Meanwhile, private sector flows in the external account declined and led to a net outflow of $708 million in 2009, a sharp turning away from a net inflow of $507 million in 2008. This eventually led to a fall in stock prices and depreciation or devaluation of the peso. Poverty and Social Impacts Impacts on households and communitiesAn increasing number of the Filipino workforce has become frustrated due to unemployment and low standards of living in the country. Thousands of Filipinos leave the country every day to  seize better income opportunities and promise their children a better and secure future. Moreover, around five million of Filipino children are unable to go to school and are forced to work on the streets or in other various workplaces where they can find some food or other means to fill their appetites. Impacts on wealth and income and its distribution across different social divisions The country was having sound economic indicators before the 2008 economic crisis. Average income per capita was increasing while poverty incidence showed a downward trend. Average income per capita rose by 2% in 2007 and 2008, whereas poverty incidence dropped from 33.0% in 2006 to 31.8% in 2007 and 28.1% in 2008. Output growth plunged in 2009, causing real mean income to fall b y 2.1%, resulting in an upward pressure on poverty incidence (grew by 1.6%). Most hit are households with associations to industry resulting in the average income to drop to levels below that of 2007. Similarly, wage and salary workers were hit significantly. Surprisingly, the poorest 20% did not suffer the same fate they suffered in crises past. Clearly, the global economic crisis put a halt on the highly promising growth trend of the Philippine economy and forced 2 million Filipinos into poverty. Coping strategies i. Finances According to recent studies (2009), close to 22% of the population reduced their spending, 11% used their existing savings for consumption, 5% pawned assets, 2% sold assets, 36% borrowed money and 5% defaulted on debts. ii. Education To reduce spending, households had to risk the quality of education of their children. Some children were transferred from private to public schools, while some were withdrawn from school. Moreover, parents reduced the allowance of the students, and resorted to secondhand uniforms, shoes and books. iii. Health Coping strategies may have negative effects on their long-term health as these affected households commonly resort to self-medication, or shift to seeing doctors in government health centers and hospital. Many households in the urban sector shifted to generic drugs while rural households tended to use herbal medicines. Policy Responses Efforts of poverty alleviation, reduction, eradication The Medium-Term Philippine Development Plan (MTPDP) was implemented during  the Ramos Administration and later on continued by the following administrations to help reduce poverty in the country and improve on the economic welfare of the Filipinos. The Ramos Administration (1993–1998) targeted to reduce poverty from 39.2% in 1991 to about 30% by 1998. The Estrada Administration (1999–2004) then targeted to reduce poverty incidence from 32% in 1997 to 25-28% by 2004, while the Arroyo government targeted to reduce poverty to 17% by creating 10 million jobs but this promise was not fulfilled by the administration. As for the current Aquino Administration, the 2011-2016 MTDPD is still being drafted. President Benigno Aquino III has plans to expand the Conditional Cash Transfer (CCT) program from 1 to 2.3 million households, and several long term investments in education and healthcare. Also, last September 2010, Aquino met with US Secretary of State, Hillary Clinton, duri ng the signing of the $434-million Millennium Challenge Corporation (MCC) grant in New York. The MCC grant would fund infrastructure and rural development programs in the Philippines to reduce poverty and spur economic growth. Macroeconomic and Social Protection programs To respond to the recent financial crisis, the Philippine government, through the Department of Finance and National Economic and Development Authority (NEDA), crafted a PhP 330-billion fiscal package, formally known as the Economic Resiliency Plan (ERP). The ERP is geared towards the stimulation of the economy through tax cuts, increased government spending, and public-private sector projects that can also prepare the country for the eventual upturn of the global economy. The implementation of ERP is spearheaded by NEDA with the following specific aims.To ensure sustainable growth, attaining the higher end of the growth rates; To save and create as many jobs as possible; To protect the most vulnerable sectors: the poorest of the poor, returning OFWs, and workers in export industries; To ensure low and stable prices to supports consumer spending; and To enhance competitiveness in preparation for the global rebound. Regional responses Poverty incidence remains to be one of the highest in the region with the  continued low domestic private investment. To overcome legal, political and institutional constraints, regional financial cooperation must be encouraged. The ASEAN+3 financial cooperation can promote further the development of domestic financial markets to facilitate the intermediation of Asian savings within the region, as well as attract foreign investment. Such alternative sources of funding would reduce Asia’s reliance on foreign currency borrowing and along with, the risk exposure of the region to maturity and currency mismatches.Moreover, the Network of East Asian Think Tanks has recently proposed the establishment of the Asia Investment Infrastructure Fund (AIIF) to prioritize the funding of infrastructure projects in the region to support suffering industries. The AIIF, as well as multilateral institutions especially the Asian Development Bank, also promotes greater domestic demand and intra-r egional trade to offset the decline in exports to industrialized countries and narrow the development gap in the region. Prospects for Growth in the Future Poverty reduction for the Philippines in the years to come is promising, bearing in mind where she left off prior to the economic crisis. Nevertheless, it is still a tough challenge. Figures persistently reflect a Philippine poverty reduction campaign that pales in comparison with other ASEAN countries. In addition, a blistering population growth rate sinks more Filipinos below thepoverty threshold placing the country’s laudable long term economic growth under its shadow. Taking into account that the Philippine economy has a significant reliance on remittances from Overseas Filipino Workers (OFWs), past threats demonstrated the resiliency of the Philippine economy despite external shocks. In spite of the disaster in Japan (3rd largest market for Philippine exports) and the geopolitical tensions in West Asia, the Philippine economy looked unfazed. New York-based Global Source Partners stated, â€Å"The Philippine economy has already proven to be quite resilient in the face of varied external shocks in the past, especially bolstered by a strong external position and capable monetary management. This time should not be much different.† The new administration of President Benigno â€Å"Noynoy† Aquino III faces three key constraints on Philippine growth: Tight fiscal situation due to weak revenue generation Poor infrastructure (i.e. transportation, power, etc.) Pessimism in investment resulting from corruption and political instability Fortunately, the government offers various projects to loosen these restrictions. Data from the quarterly ING Investor Dashboard Survey showed stability in investor confidence for the Philippine economy over the first two quarters of 2010. She even scored a 157 in the third quarter of the same year. This is well on the higher percentiles of the â€Å"optimistic† range and a mere 3 points from the â€Å"very optimistic† level. These figures emerge in the midst of decrepit infrastructure and a lack of efficient institutions. Subsequently, the prospect of the Philippine economy improving into the â€Å"very optimistic† range is very bright. Presidential spokesman Edwin Lacierda declared that the Philippine economic competitiveness score improved from 56.526 the previous year to 63.291 in 2011 (based on The World Competitiveness Yearbook). Lacierda also boasts of infrastructure improvement pr ojects of the Department of Public Works and Highways scheduled to commence within one or two years. He attributes the stepping up of our competitiveness rating to the public-private partnership (PPP) projects next year. These projects raise optimism for the post-crisis economy of the Philippines ————————————————- Fiscal policy of the Philippines From Wikipedia, the free encyclopedia Fiscal policy refers to the â€Å"measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals.†[1] In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there have been improvements in the last few years.[2] The Philippine government’s main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and debt, the Philippines relies on both domestic and external sources. Fiscal policy during the Marcos administration was primarily focused on indirect tax collection and on government spending on ecnomic services and infrastructure development. The first Aquino administration inherited a  large fiscal deficit from the previous administration, but managed to reduce fiscal imbalance and improve tax collection through the introduction of the 1986 Tax Reform Program and the value added tax. The Ramos administration experienced budget surpluses due to substantial gains from the massive sale of government assets and strong foreign investment in its early years. However, the implementation of the 1997 Comprehensive Tax Reform Program and the onset of the Asian financial crisis resulted to a deteriorating fiscal position in the succeeding years and administrations. The Estrada administration faced a large fiscal deficit due to the decrease in tax effort and the repayment of the Ramos administration’s debt to contractors and suppliers. During the Arroy o administration, the Expanded Value Added Tax Law was enacted, national debt-to-GDP ratio peaked, and underspending on public infrastructure and other capital expenditures was observed. Contents [hide] * 1 Revenues and Funding * 1.1 Tax Revenue * 1.1.1 Income Taxes * 1.1.2 E-VAT * 1.1.3 Tariffs and Duties * 1.2 Non-Tax Revenue * 1.2.1 The Bureau of Treasury * 1.2.2 Privatization * 1.2.3 PAGCOR * 2 Spending, Debt, and Financing * 2.1 Government Spending and Fiscal Imbalance * 2.2 Financing and Debt * 3 History of Philippine Fiscal Policy * 3.1 Marcos Administration (1981-1985) * 3.2 Aquino Administration (1986-1992) * 3.3 Ramos Administration (1993-1998) * 3.4 Estrada Administration (1999-2000) * 3.5 Arroyo Administration (2002-2009) * 4 References * 5 External links ————————————————- Revenues and Funding[edit source | editbeta] A comparative graph of Revenue and Tax Effort from 2001-2010[3] A comparative graph of Tax and Non-Tax Revenue contribution from 2001-2010[4] The Philippine government generates revenues mainly through personal and income tax collection, but a small portion of non-tax revenue is also collected through fees and licenses, privatization proceeds and income from other government operations and state-owned enterprises. Tax Revenue[edit source | editbeta] Tax collections comprise the biggest percentage of revenue collected. Its biggest contributor is theBureau of Internal Revenue (BIR), followed by the Bureau of Customs (BOC). Tax effort as a percentage of GDP has averaged at roughly 13% for the years 2001-2010.[5] Income Taxes[edit source | editbeta] Income tax is a tax on a person’s income, wages, profits arising from property, practice of profession, conduct of trade or business or any stipulated in the National Internal Revenue Code of 1997 (NIRC), less any deductions granted.[6] Income tax in the Philippines is a progressive tax, as people with higher incomes pay more than people with lower incomes. Personal income tax rates vary as such:[7] Annual Taxable Income| Income Tax Rate| Less than â‚ ±10,000| 5%| Over â‚ ±10,000 but not over â‚ ±30,000| â‚ ±500 + 10% of the excess over â‚ ±10,000| Over â‚ ±30,000 but not over â‚ ±70,000| â‚ ±2,500 + 15% of the excess over â‚ ±30,000| Over â‚ ±70,000 but not over â‚ ±140,000| â‚ ±8,500 + 20% of the excess over â‚ ±70,000| Over â‚ ±140,000 but not over â‚ ±250,000| â‚ ±22,500 + 25% of the excess over â‚ ±140,000| Over â‚ ±250,000 but not over â‚ ±500,000| â‚ ±50,000 + 30% of the excess over â‚ ±250,000| Over â‚ ±500,000| â‚ ±125,000 + 32% of the excess over â‚ ±500,000| The top rate was 35% until 1997, 34% in 1998, 33% in 1999, and 32% since 2000.[7][8] In 2008, Republic Act No. 9504 (passed by  then-President Gloria Macapagal-Arroyo) exempted minimum wage earners from paying income taxes.[9] E-VAT[edit source | editbeta] The Expanded Value Added Tax (E-VAT), is a form of sales tax that is imposed on the sale of goods and services and on the import of goods into the Philippines. It is a consumption tax (those who consume more are taxed more) and an indirect tax, which can be passed on to the buyer. The current E-VAT rate is 12% of transactions. Some items which are subject to E-VAT include petroleum, natural gases, indigenous fuels, coals, medical services, legal services, electricity, non-basic commodities, clothing, non-food agricultural products, domestic travel by air and sea.[10] The E-VAT has exemptions which include basic commodities and socially sensitive products. Exemptible from the E-VAT are:[11] 1. Agricultural and marine products in their original state (e.g. vegetables, meat, fish, fruits, eggs and rice), including those which have undergone preservation processes (e.g. freezing, drying, salting, broiling, roasting, smoking or stripping); 2. Educational services rendered by both public a nd private educational institutions; 3. Books, newspapers and magazines; 4. Lease of residential houses not exceeding â‚ ±10,000 monthly; 5. Sale of low-cost house and lot not exceeding â‚ ±2.5 million 6. Sales of persons and establishments earning not more than â‚ ±1.5 million annually. Tariffs and Duties[edit source | editbeta] Second to the BIR in terms of revenue collection, the Bureau of Customs (BOC) imposes tariffs and duties on all items imported into the Philippines. According to Executive Order 206, returning residents, Overseas Filipino Workers (OFW’s) and former Filipino citizens are exempted from paying duties and tariffs.[12] Non-Tax Revenue[edit source | editbeta] Non-tax revenue makes up a small percentage of total government revenue (roughly less than 20%), and consists of collections of fees and licenses, privatization proceeds and income from other state enterprises.[13] The Bureau of Treasury[edit source | editbeta] The Bureau of Treasury (BTr) manages the finances of the government, by attempting to maximize revenue collected and minimize spending. The bulk of non-tax revenues comes from the BTr’s income. Under Executive Order No.449, the BTr collects revenue by issuing, servicing and redeeming government securities, and by controlling the Securities Stabilization Fund (which increases the liquidity and stabilizes the value of government securities[14]) through the purchase and sale of government bills and bonds.[15] Privatization[edit source | editbeta] Privatization in the Philippines occurred in three waves: The first wave in 1986-1987, the second during 1990 and the third stage, which is presently taking place.[16] The government’s Privatization Program is handled by the inter-agency Privatization Council and the Privatization and Management Office, a sub-branch of the Department of Finance.[17] PAGCOR[edit source | editbeta] The Philippine Amusement and Gaming Corporation (PAGCOR) is a government-owned corporation established in 1977 to stop illegal casino operations. PAGCOR is mandated to regulate and license gambling (particularly in casinos), generate revenues for the Philippine government through its own casinos and promote tourism in the country.[18] ————————————————- Spending, Debt, and Financing[edit source | editbeta] A comparative graph of National Revenues and Expenditures from 2001-2010[5] A comparative graph of Domestic and External Sources of Financing from 2001-2010[5] A comparative graph of Total National Debt from 2001-2010[19] Government Spending and Fiscal Imbalance[edit source | editbeta] In 2010, the Philippine Government spent a total of â‚ ±1.5 trillion and earned a total of â‚ ±1.2 trillion from tax and non-tax revenues, thus resulting to a total deficit of â‚ ±314.5 billion.[5] Despite the national deficit of the  Philippines, the Department of Finance reported an average of â‚ ±29.6 billion in Local Government Unit (LGU) surplus, which is mostly due to an improved LGU financial monitoring system which the government implemented in the recent years. Efforts of the monitoring system include â€Å"debt monitoring and creditworthiness monitoring system, effective mobilization of second generation funds (SGF) to promote LGU development, and the implementation of a Land Administration and Management Project (LAMP2) which received a ‘very good’ rating from the World Bank (WB) and Australian Agency for International D evelopment (AusAid).†[20] Microfinance management in the Philippines is improving substantially. In 2009, the Economist Intelligence Unit â€Å"recognized the Philippines as the best in the world in terms of its microfinance regulatory framework.† The DOF-National Credit Council (DOF-NCC) focused on improving the state of local cooperatives by developing a supervision and examination manual, launching advocacies for these cooperatives, and pushing for the Philippine Cooperative Code of 2008. A standardized national strategy for microinsurance and the provisions of grants and technical assistance were formulated.[20] Financing and Debt[edit source | editbeta] Aside from Tax and Non-Tax Revenues, the government makes use of other sources of financing to support its expenses. In 2010, the government borrowed a total net of â‚ ±351.646 billion for financing:[21] | Domestic Sources| External Sources| Gross Financing| â‚ ±489.844 billion| â‚ ±257.357 billion| Less: Repayments/Amortization| â‚ ±271.246 billion| â‚ ±124.309 billion| Net Financing| â‚ ±218.598 billion| â‚ ±133.048 billion| Total Financing| | â‚ ±351.646 billion| External Sources of Financing are:[21] 1. Program and Project Loans – the government offers project loans to external bodies and uses the proceeds to fund domestic projects like infrastructure, agriculture, and other government projects.[20] 2. Credit Facility Loans 3. Zero-coupon Treasury Bills 4. Global Bonds 5. Foreign Currencies Domestic Sources of Financing are[21] 1. Treasury Bonds 2. Facility loans 3. Treasury Bills 4. Bond Exchanges 5. Promissory Notes 6. Term Deposits In 2010, the total outstanding debt of the Philippines reached â‚ ±4.718 trillion: â‚ ±2.718 trillion from outstanding domestic sources and â‚ ±2 trillion from foreign sources. According to the Department of Finance, the country has recently reduced dependency on external sources to minimize the risks caused by changes in the global exchange rates. Efforts to reduce national debt include increasing tax efforts and decreasing government spending. The Philippine government has also entered talks with other economic entities, like the ASEAN Finance Ministers Meeting (AFMM), ASEAN+3 Finance Ministers Meeting (AFMM+3), Asia-Pacific Economic Cooperation (APEC), and ASEAN Single-Window Technical Working Group (ASW-TWG), in order to strengthen the countries’ and the region’s debt management efforts*.[20] ————————————————- History of Philippine Fiscal Policy[edit source | editbeta] Marcos Administration (1981-1985)[edit source | editbeta] The tax system under the Marcos administration was generally regressive as it was heavily dependent on indirect taxes. Indirect taxes and international trade taxes accounted for about 35% of total tax revenue, while direct taxes only accounted for 25%. Government expenditure for economic services peaked during this period, focusing mainly on infrastructure development, with about 33% of the budget spent on capital outlays. In response to the higher global interest rates and to the depreciation of the peso, the government became increasingly reliant on domestic financing to finance fiscal deficit. The government also started liberalizing tariff policy during this period by enacting the initial Tariff Reform Program, which narrowed the tariff structure from a range of 100%-0% to 50%-10%, and the Import Liberalization Program, which aimed at reducing or eliminating tariffs and realigning indirect taxes.[22][23][24] Aquino Administration (1986-1992)[edit source | editbeta] Faced with problems inherited from the previous administration, the most important of which being the large fiscal deficit heightened by the low tax effort due to a weak tax system, Aquinoenacted the 1986 Tax Reform Program (TRP). The aim of the TRP was to â€Å"simplify the tax system, make revenues more responsive to economic activity, promote horizontal equity and promote growth by correcting existing taxes that impaired business incentives†. One of the major reforms enacted under the program was the introduction of the Value Added Tax (VAT), which was set at 10%. The 1986 tax reform program resulted in reduced fiscal imbalance and higher tax effort in the succeeding years, peaking in 1997, before the enactment of the 1997 Comprehensive Tax Reform Program (CTRP). The share of non-tax revenues during this period soared due to the sale of sequestered assets of President Marcos and his cronies (totalling to about â‚ ±20 billion), the initial efforts to deregulate the oil industry and thrust towards the privatization of state enterprises. Public debt servicing and interest payments as a percent of the budget peaked during this period as government focused on making up for the debt incurred by the Marcos administration. Another important reform enacted during the Aquino administration was the passage of the 1991 Local Government Code which enabled fiscal decentralization. This increased the taxing and spending powers to local governments in effect increasing local government resources.[22][24] Ramos Administration (1993-1998)[edit source | editbeta] The Ramos administration had budget surpluses for four of its six years in power. The government benefited from the massive sale of government assets (totalling to about â‚ ±70 billion, the biggest among the administrations) and continued to benefit from the 1986 TRP. The administration invested heavily on the power sector as the country was beset by power outages. The government utilized its emergency powers to fast-track the construction of power projects and established contracts with independent power plants. This period also experienced a real estate boom and strong foreign direct  investment to the country during the early years of the administration, in effect overvaluing the peso. However, with the onset of the Asian financial crisis, the peso depreciated by almost 40%. The Ramos administration relied heavily on external borrowing to finance its fiscal deficit but quickly switched to domestic dependence on the onset of the Asian financial crisis. The administration has b een accused of resorting to â€Å"budget trickery† during the crisis: balancing assets through the sales of assets, building up accounts payable and delaying payment of government premium to social security holders. In 1997, the Comprehensive Tax Reform Program (CTRP) was enacted. Republic Act (RA) 8184 and RA 8240, which were implemented under the program, were estimated to yield additional taxes of around â‚ ±7.4 billion; however, a decline in tax effort during the succeeding periods was observed after the CTRP was implemented. This was attributed to the unfavorable economic climate created by the Asian fiscal crisis and the poor implementation of the provisions of the reform. A sharp decrease in international trade tax contribution to GDP was also observed as a consequence of the trade liberalization and globalization efforts in the 1990s, more prominently, the establishment of the ASEAN Free Trade Agreement (AFTA) and membership to the World Trade Organization (WTO) and the Asia-Pacific Economic Cooperation (APEC). The Ramos administration also provided additional incentives to export-oriented firms, the most prominent among these being RA 7227 which was instrumental to the success of the Subic Bay Freeport Zone.[22][23] Estrada Administration (1999-2000)[edit source | editbeta] President Estrada, who assumed office at the height of the Asian financial crisis, faced a large fiscal deficit, which was mainly attributed to the sharp deterioration in the tax effort (as a result of the 1997 CTRP: increased tax incentives, narrowing of VAT base and lowering of tariff walls) and higher interest payments given the sharp depreciation of the peso during the crisis . The administration also had to pay P60 billion worth of accounts payables left unpaid by the Ramos administration to contractors and suppliers. Public spending focused on social services, with spending on basic education reaching its peak. To finance the fiscal deficit, Estrada created a balance between domestic and foreign borrowing.[22][23] Arroyo Administration (2002-2009)[edit source | editbeta] The Arroyo administration’s poor fiscal position was attributed to weakening tax effort (still resulting from the 1997 CTRP) and rising debt servicing costs (due to peso depreciation). Large fiscal deficits and heavy losses for monitored government corporations were observed during this period. National debt-to-GDP ratio reached an all-time high during the Arroyo administration, averaging at 69.2%. Investment in public infrastructure (at only 1.9% of GDP), expenditure for economic services, health spending and education spending all hit an historic-low during the Arroyo administration. The government responded to its poor fiscal position by under-spending in public infrastructure and social overhead capital (education and health care), thus sacrificing the economy’s long-term growth. In 2005, RA 9337 was enacted, the most significant amendments of which were the removal of electricity and petroleum VAT exemptions and the increase in the VAT rate from 10% to 12%

The Decision For A Company - 2570 Words

The decision for a company to merge with another company, especially a rival firm, can be both rewarding and challenging at times. In an effort to ensure that businesses do not attempt to merge with an intention to deceit, the Federal Trade Commission was established. The Federal Trade Commission (FTC) defined as an â€Å"independent federal agency whose main goals are to protect consumers and to ensure a strong competitive market by enforcing a variety of consumer protection and antitrust laws† (Investopedia, 2015). The FTC has the responsibility to ensure that businesses are adhering to good business practices and following business rules. If violations are discovered, the company needs to be handled in accordance with the laws set†¦show more content†¦According to ftc.gov, it protects the consumer by â€Å"stopping unfair, deceptive or fraudulent practices in the marketplace. We conduct investigations, sue companies and people that violate the law, develop rul es to ensure a vibrant marketplace, and educate consumers and businesses about their rights and responsibilities. We collect complaints about hundreds of issues from data security and deceptive advertising to identity theft and Do Not Call violations, and make them available to law enforcement agencies worldwide for follow-up. Our experienced and motivated staff uses 21st century tools to anticipate – and respond to – changes in the marketplace† (FTC, 2015). In this scenario, the FTC is concerned with the merger and the market power of the through the merger. The FTC is also challenged to promote competition. â€Å"Competition in America is about price, selection, and service. It benefits consumers by keeping prices low and the quality and choice of goods and services high. By enforcing antitrust laws, the FTC helps ensure that our markets are open and free. The FTC will challenge anticompetitive mergers and business practices that could harm consumers by re sulting in higher prices, lower quality, fewer choices, or reduced rates of innovation. We monitor business practices, review potential mergers, and challenge them when appropriate to ensure that the market