I think in India, we do not have inheritance tax. Since we have some of the world's biggest billionaires and of course, a large number of politicians who have looted a lot of money, having an inheritance tax would generate a lot of revenue to the government and we can even reduce the tax on the middle and lower class people. US, for instance, has up to 55% inheritance tax. Ambani, Premji, et al have enough money for the next 100 generations even after paying 30% inheritance tax
Re: introduce inheritance tax
by vuyyala nagesh on Feb 23, 2010 03:58 PM Permalink
no need to have inheritance tax, if the govt. collects the tax from the govt. officials and from politicians then we get a lot of revenue maybe we may pay all the debts to other countries and can give a lot of money to the poor in the world too. But govt. is in the hands of politicians and not in the hands of people as said by the constitution (democratic govt. is by the people, for the people, by the people)
