TIMED TASK

Introduced by the Makabayan Bloc on 20 September 2021, House Bill No. 10253 or the Super Rich Tax Act of 2021 proposes tax of 1% on individuals whose taxable assets are above P1 billion, 2% for P2 billion, and 3% for P3 billion and above. Which of the following statements is true? This proposed tax legislation unduly discriminates the rich. This proposed tax legislation should be passed by an absolute majority of the Congress. This proposed tax legislation is in line with the progressivity principle of taxation. This proposed tax legislation violates the equal protection clause