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https://twitter.com/harsht2024/status/1782768302873272798.
She says that a survey will be carried out to see how much each caste earns. Then wealth be distributed to those at the bottom, to SC/ST/OBC communities. Practically speaking, I think that the caste that will probably finish on top is the Vaishya/Baniya caste, because families like Ambani, Adani, Jindal etc own a large chunk of India's wealth. Then I guess the Brahmins and Kshatriyas, who are engaged in white collar professions. Now, if you take 30% of Vaishya wealth and maybe 20% of Brahmin/Kshatriya wealth and distribute it to the SC/ST/OBC communities, the inequality gap will be substantially reduced --- not just financial inequality but also social and educational inequality, because the SC/ST/OBC communities can use their new wealth to send their children to good schools and universities. The long term impact will be that India's GDP will be qualitatively superior, not just quantitatively superior. Thus, we will be able to compete with China better, because our current economic situation is lopsided, where only a few castes can benefit from the opportunities given by globalisation.
Amartya Sen has explained this very well, He says that China and India were similarly placed at one time, but the reason China grew faster is because their social base was more equal.
Hence, this is an excellent policy that deserves our support.
- Higher income tax slabs
- Further 20% wealth tax on top of income tax on super rich like Adani, Ambani, Jindal etc
-Higher taxes on products for the rich, like SUVs, iPhones etc
- Inheritance tax. When passing on your house to children the children should pay a tax on it.
All these measures are constitutional. These measures alone can raise up to 10 lakh crores per year at least. Then Rs 10 lakh can be distributed to 1 crore poor families from SC/ST/OBC/Muslim communities every year.
What do you think?