The ultra-wealthy families in the Philippines won't struggle with paying a wealth tax, Partido Lakas ng Masa (PLM) presidential candidate Leodegario “Ka Leody” de Guzman said.

“Hindi naman nila ikahihirap yon, yung 20 percent one-time levy (They won’t struggle with that, a 20 percent one time levy),” said De Guzman on Wednesday, Feb. 9, when asked for a reaction about the business sector's criticisms on his proposed wealth tax.

De Guzman’s proposal, which he unveiled at the Kapisanan ng Broadkaster ng Pilipinas’ (KBP) presidential forum last Feb. 4, will see the legislative implementation of a 20 percent tax on the top 500 richest Filipinos.

“Yung mga mayayaman ay grabe ang pera sa bulsa kahit itong panahon ng pandemya kung saan ay dapa ang ating ekonomiya at naghihirap ang mamamayan dahil sa taas ng presyo ng bilihin at dami nawalan ng trabaho (The rich maintained an immense amount of wealth even during the pandemic even when our economy fell and Filipinos struggled with increased prices and loss of employment),” he said at the Pandesal Forum hosted by the Kamuning Bakery Cafe.

“Itong mga malalaking korporasyon na ito ay nagkapal ng yaman, halos nadoble ang kanilang net worth,” De Guzman claimed as he rattled off names of local business tycoons.

He further expounded that his proposed wealth tax wouldn’t hurt businessmen and capitalists, especially “ang kapitalista na may puso (capitalists with hearts)” and said that these business owners with compassion for workers would accept the tax.

“Pero yung mga walang puso na kapitalista ay talagang magrereact at uutusan ang kanilang mga taga-salita na takutin ang kanyang mamamayan (But heartless capitalists are the ones who will react and they will order their spokespersons to scare their workers),” he added.