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- Most wealth is owned by upper castes
- Upper castes have got richer under Modi
- Solution is to tax just a small fraction of upper castes, who are an even smaller fraction of the total population
- This section represents those owning more than 10 crore in assets: comes to 0.04% of India's total population (if you take the population as 1.5 billion, that comes to 600,000 people).
Do you all support this idea? My only caveat is that 0.04%/600,000 is an underestimate and may not include many traders and farmers who under-declare income. I think the number of people who own more than 10 crores in India will be closer to 6 million, i.e. 10 times as much.
https://thewire.in/economy/researchers-propose-crorepati-tax-justice-plan-leaving-99-96-population-untouched
WA Uni Uncle... Goebbels must be laughing from .........
You are making the obvious mistake that in Europe the gives you quality free healthcare, excellent public transport, a clean environment and top-class public universities. We get none of that. All our taxes go into the pockets of politicians. You people are essentially saying that we need to give our crorepati politicians more money.
Are you blind? It is us who will get them out of paying this. A dead obvious solution is trusts, which are already in use by anyone serious about their money. Another easy one is registering a political party (you don't have to actually content elections and there is no tax on its income).
No one will ever do something they have a disincentive to do if they can conceivably avoid it. Assets in India? Move assets abroad (security of capital is better anyway?). Move assets to crypto. Arrey pagal ho kya? Sorry I'd prefer the money to remain in the economy in productive assets and capital investments.
And who are these leftist "economists" anyway? Who died and left them in charge of national policy? These are academics/nobodys, who nobody cares about and nobody will listen to inshallah till we have democracy. Their recommendations and endorsements are not worth the paper they are printed on, because they have no legitimate authority to be preaching to the people of this nation.
RaGa won’t have the balls to implement it if he ever comes into power.