TAX THE AFFLUENTS AT MUCH HIGHER RATES TO NULLIFY THE SADDLE OF SUBSIDY Tragically, our Government has no courage to tax affluent There has been scathing attack and stringent criticism on our Economist PM being agreed to Mr. Rahul Gandhis proposal to increase subsidized LPG cylinder quota from 9 to 12 causing an additional load of Rs. 5000 to exchequer. First, Government has taken this decision for electoral dividends but not out of concerns for people. Indirectly it has accepted that the previous decision of reducing the numbers of subsidised cylinder was imprudent and wrong. Those who are telling that Subsidy is meant for poor and those who are using cooking in gas , are not poor, why they don’t raise voices when our exchequer loses more than 5 lakhs crore every year due to tax forgone mainly benefiting rich and corporate. My theory is that instead of curbing subsidies , tax the upper middle class ,rich, corporate, affluent at much higher rates so that burden of subsidy can be easily borne by government and indirect and unnecessary benefit accrued to rich , upper middle class and corporate through subsidy will be nullified. But, tragically, our Government has no courage to tax affluents
Posted on: Sun, 02 Feb 2014 07:34:06 +0000
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