Economic redistribution: Who’s afraid of progressive taxes?
Live MintIndia’s political debate on inheritance tax and wealth tax has led to fears of tax terrorism, with the incumbent National Democratic Alliance using the issue to attack the principal opposition party, Congress. On the other hand, tax data from the World Inequality Database suggests that both income and wealth inequality in India are at their highest levels ever since records began. Even income tax and capital gains tax are redistributive, as these are levied on high-bracket earners and asset owners to fund programmes aimed at uplifting the poor and offering basic necessities such as health, education, nutrition and livelihood support, apart from the usual governance needs like law-and-order. While some countries abolished these, including India, which axed its inheritance tax in the mid-1980s and wealth tax in the last decade, the reason was their inefficiency as resource-mobilization tools more than anything else.
History of this topic
Congress attacks government on issue of income inequality
The Hindu
Why are India’s poorest people being left behind?
Al Jazeera
Most Indians want tax on the rich, top firms
Deccan ChronicleDiscover Related
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Income Tax Filers Exceed 2.3 Lakh, with High Majority Being Businesspersons and Professionals
Hindustan Times
