These half mad rantings of a maudlin do not deserve to be spat upon even
Western countries taxing income at 70%, Japan even more...God...take him away....If you don't listen, then pls Devil, take away what is rightfully yours
The writer says that in Western Europe, people pay 50-60% of their salary as tax. But he conveniently forgets that the governments there provide excellent facilities to the people in return for the taxes they pay. Wht do we get? Potholed roads? Corrupt system? Water and electricity shortages even after paying the bills? Pathetic medical services? Messed up educatoional system? This guy must be someone from the Left.
RE:wrong analysis
by G A on Mar 13, 2008 07:42 PM
Noone pays 60% taxes, he is a liar, in HK it is 15%, USA 30-40 % that's all with superb return facilities
RE:RE:wrong analysis
by deepak on Mar 14, 2008 12:51 AM
In USA, you pay 30%, the most... During Clinton it went as high as 38%... But Didn't Indian government collect 50% more direct taxes than the year before... For more accurate Numbers, i would rather read the article by gurumurthy than anyone... In the populus budget, Service class got its fair share... Farmers, who usually do not pay taxes as much, got the raw deal of loan waiver... Unlike Service sector, it will not put money in farmer's pocket unless we deal with agriculture sector. Our attention should be on how to get agriculture sector lifted... For this, we need better infrastructure In dealing with Farmers. State government is always in better position than central government.. Narendra Modi probably be saying, just hand me my fair share, heck, just charge my state 20% for expected corruption, and hand me the rest to state treasury, for I can manage better than anybody in Gujarat... His wisdom wouldn't be wholly wrong... Farmers ain't gonna get much from this 60,000 cr waiver...
Any idea who is this mental buffoon ? 2 lakh indians earn more than rs 10 lakhs, so what does he want to do ? Suck them completely ? 2 lakhs out of 10000 lakhs population, we should feel ashamed that we have so many poor chaps, what has this govt done in 60 years, started with atleast elected PM and now they only give us nominated, unelected PMs who distributes 60000 crores of public money to his chamchas and wants appreciation for that !!
RE:Left's Logic with Leave us Lost
by Sahadevan KK on Mar 14, 2008 10:26 AM
UPA means Unreserved Privatisation Alliance. Got lost a 33500 crore sale government in 2004!!
While this author's comments on the Loan Waiver itself seems to be realistic. Much else of what has been written is a lot of bull.
He claims that there are a lot of exemptions given (over 3 Lakh crores). He must understand that it is only due to these exemptions that the Industry is able to survive. We have seen days of very high taxations in India and we have seen the resultant growth then. Exemptions, given for a purpose, cannot be considered as revenue loss.
The Author has targeted the IT Exemptions to the salaried class. He must understand that the cost of living has increased so much that the exemptions given means almost nothing. Infact, considering a realistic level of inflation (not the Govt figures), the IT Exemptions is actually negative. Most people are happy with this budget, only because, they had anticipated very much less. It is absurd to think that a saving of a meager Rs 4000/- a year will mean lots of money in the pockets of the common man, so much that he will run to the nearest car dealer to buy a car and to the nearest shop to get all the latest electronic gizmos!
RE:It's not a farmer's Budget!
by Arun V on Mar 13, 2008 06:41 PM
I agree with Hebbar. Agree that Rs.60,000 wave off on the loan is not giving much to farmers who relay on Local Money Lenders. There is issue of definition when classfying farmers based on type of land and based on holding size. Leave apart, the possible way out is to find a mechanism to fund unbankable farmer for productive fund use.
Author seems to be hard on individual tax payers, particularly salaried class. One should know successively whoever came to power in the center tried to milk the middle class population, at least come relief now - i dont want to talk about cost of live, but would like to say how much can you squeeze the salaried class - who cannot evade tax, as they are taxed at source.
Author instead of being pratical, take the view of acedamic with the luzury of five star conference facilities and doing desktop research.
RE:It's not a farmer's Budget!
by S K on Mar 14, 2008 10:33 AM
it is 40000 not 4000 per year more in the pockets of the "common man". I agree that this is a lot of socialism thrown in ... but the author is right in saying that it is not a Farmer's budget. Especially so for the suicide-prone areas ... which it should have been targeted at
RE:s
by prasad khandkar on Mar 13, 2008 05:58 PM
Praful Bidwai and his ilk need to read Alan Greenspan's book, who has looked at India without the rose tinted eyeglasses that are being used increasingly by the likes of Western observers like Tom Friedman (who breathlessly proclaims India's progress!)
Greenspan objectively analyzes how India, and nearly all socialist (Fabian) societies performed miserably in delivering adequate public goods (there were no private goods anyway!) to its population and how we still have great constraints on economic activity, thereby forcing most of the population to subsist on $1 per day (or less.)
Bidwai wants to take India back to the era where tax rates were ridiculously high (at one time, the income tax rate was more than 90%), and the effect of that era which created a colossal parallel (read black money) economy is there for all to see.
Bidwai wants to whip the middle class (in his books, a person with a gross income of Rs. 5 Lakh is rich!) with higher tax rates, in the name of creating "income equity." This is Fabian lopsided thinking - rather than working toward increasing incomes for lower income groups, lets tax the socks off people who have slightly higher income!
