Asia has one of the world’s highest rates of inequality. The Philippines has seen proposals for a wealth tax gaining momentum among civil society organizations, labor unions, popular organizations, the academe, and the media. It became a contentious issue in the May 2022 national elections. Resistance from both the government and corporate sector, however, has been intense and unbending. In response, proponents have outlined the rationale for a wealth tax in light of the existing political, social, and economic situation.