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Both taxes are controversial, and the manner in which they were introduced was shoddy.
How will consumers cope if both taxes and interest rates are rising at the same time?
Those with both high wages and high investment income would pay both taxes.
Shareholders picked up the bill for both taxes and benefits awarded to Mr. Weill in 2005.
In a standard residential real-estate transaction, he said, the seller pays both taxes.
They advocated cutting both taxes and government spending, thereby returning money to the enterprising and allowing the economy to boom.
It also probably requires measures to make both taxes and government spending more equitable without hobbling economic efficiency.
Mr. Obama, though, will direct the proposed bipartisan commission to consider changes to both taxes and entitlement benefits.
He is remembered for his "dream budget" of 1997, which cut both taxes and tariffs and helped spur today's boom.
In the first year, total income for both taxes exceeded the treasury's forecast by 76%, collecting almost 32bn pesos.
With government expenditures now running 185percentt of receipts, truly major changes in both taxes and outlays will be required.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com