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Reduce income tax and increase the tax on spending
by Nitin Kanade on Feb 05, 2010 03:42 PM

In the current system, salaried people are penalized because they are charged the most of the income tax. Instead the income tax on salary should be reduced to minimum possible (e.g. Singapore does away with 7% only with world class infrastructure). And then heavy tax should be charged on spending, more heavier on lavish spending so the black money earned will also be taxed automatically when spent by these rescals.

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