An investigation by the Philippine Center for Investigative Journalism shows some interesting facts and figures surrounding presidential hopefuls, and money
A BILLIONAIRE and four other millionaires lead the pack of those who want to serve as the15th president of the Philippines, all invariably swearing by an anti-poverty platform, and with some purposely harking on their poverty roots to spin and curry favor with majority of voters who are poor.
The costs and benefits of running and serving as president are a skewed equation. Various election and policy experts say that to run a decent campaign and win, a presidential candidate might have to fork out sums running from P2 billion to P6 billion. And yet the new president, if he keeps honest, would earn only P60,000 a month or at most P4.68 million in six years, before tax. The total six-year income for the new president would add up to just P3.18 million, after tax.
It is a big mystery why these candidates are committing financial suicide by deciding to spend so much money for so little in lawful income they could receive once in office.
But the PCIJ’s database of the statements of assets and liabilities and net worth (SALNs) filed by the five presidential candidates who have served in public office point to a bigger mystery: Rather than sliding to poverty because of fortunes they might have lost on elections, these candidates in fact managed to grow their wealth and net worth by small to phenomenal amounts over the years.
The mysteries of money & politics - FULL INVESTIGATION
Tags:
campaigns, election, expenses, millionaire, money, philippines, president
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