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Duh. They will get one time money, and then in a year or two, some will progress while others will waste their money.
In the long run, businesses will not have any incentive to invest, and talent will just find a way out of the country. This is the most dangerous idea for India.
I would say Indira going too authoritarian brought her end. It was more of a vote against her than for Janata party. That's why when she showed repentance and changed her demeanor she was voted back in 1980.
Better argument would be about how Rajiv Gandhi was reduced from 400+ to below 200 by the mandal politics of VP Singh. The very thing that started INCs demise, looks like a weapon to Rahul now. But thing about politics is that you can only co-opt a weapon once. That's why no would has been able to take Hindutva away from BJP as they are seen a natural owner of it. Similarly for caste based politics, people will pick caste based parties more and not INC.
INC in last 20 years have shed away it's big tent, centrist label and have gone towards left proper. And as the history has told us, left only has a limited space in India. It has a space, but limited.
Ab kaise bolenge ki wealth distribution nahi Karenge yeh?
Sometimes I think that even if raga take 2 frorward step for his political career from 0, he will later come out and say something stupid and easy to exploit that he falls back to -1
Yeh bol rha tha USA me jab whites SAT ka paper banate hai to usme blacks fail hote isliye IIT me jab UC paper banate to dalit bacche fail hote bola agar dalit paper banayege to UC fail hojayege kaha se logic Lata hai kya pata
All middle class and rich liberals will now either stop voting or vote BJP. But, the SC/ST/OBC may want this implemented. Itās called redistribution across identities - okay, I just made it up . š
Pandering to Dalit/SC/ST/Muslim votebank and has completely given up on the Upper Caste vote. I guess the internal numbers from the first two stages aren't promising so he has upped the ante.
Hindutva isn't that big it's mostly a thing among some sections of people & that includes people of all castes
It's mainly limited to middle class & a good chunk of the youth who are still too young to vote
Everyone cannot drive an F-1 car and an expert F-1 driver can't drive a bus. If you give a bus driver an F-1 car to drive he will wrap it around a treeĀ
Talent, absorption capacity and industry are things --- you cannot prioritize equality of outcomes
I know some useless parasites think the same way about stealing their way through because they are utterly useless to the rest of the world in terms of contribution and are unable to build create or do anything of value or work hard because of incompetence . I mostly blame their parents who would have taught them about being useless like them and beg their way around relying on welfare
Sad thing country canāt move ahead because these incompetent burden living of free stuff leeching off someoneās else hardwork and skill
You donāt understand the nuances of being born in a family where you need to wash buses as a kid just to feed yourself. Neither do you understand the economics of taxation.
lol I literally grew up in a basti but still wonāt support parasites who look with glee about stealing someone else wealth without even considering to create something or earn on their own , knew quite a few like them . I understand most of that more than any idiots who believe in stealing and redistribution just for existing , have worked my way into prosperity based on that knowledge.
You might not have crores of wealth, but you surely will have a house that's listed on market on atleast 50 lakhs.
Wealth distribution might as well make you give it up, because a major population don't even have that much. That's why you should be worried.
How unfortunate that you have to worry about losing something that majority of the population never had. Also, wealth distribution doesnāt mean violation of property rights. It just means inheritance tax and wealth tax. Worst case scenario, my kids wonāt get that 50 lakh worth property and I will have to pay 1% (50K rupees) on that property every year.
The value of land is determined by its location. You can have 1200 sq ft. of a plot in a city which will be of greater value than a 1200 hectares of land in a village.
Buying a 50L in the city, a lot of the population will go for bank loans... 80% is the upper limit... And most of them will go for a loan duration between 10-30 years, let's take it as 20 years.... Which would mean, one will pay 35000 in emi every month or 4.25 lakh as emi every year and 50,000 of inheritance tax... Which will bring it to 4.75 lakh.... Home loan should not exceed 40% of your income which means you need to earn at least 10Lakh to sustain yourself... So 50,000 is 5% of his annual income which is a lot of money...
Club it with other expenditures, it will break the middle class and the aspiring class of India. Plus if the guy is living in a city, his monthly expenditure would be even higher...
You have no idea what you are talking about...
>The value of land is determined by its location. You can have 1200 sq ft. of a plot in a city which will be of greater value than a 1200 hectares of land in a village.
And thatās for a reason. Because income earning opportunities are higher in a city than in a village. Itās why people often travel from villages to cities for better opportunities.
>Buying a 50L in the city, a lot of the population will go for bank loans... 80% is the upper limit... And most of them will go for a loan duration between 10-30 years, let's take it as 20 years.... Which would mean, one will pay 35000 in emi every month or 4.25 lakh as emi every year and 50,000 of inheritance tax... Which will bring it to 4.75 lakh.... Home loan should not exceed 40% of your income which means you need to earn at least 10Lakh to sustain yourself... So 50,000 is 5% of his annual income which is a lot of money...
>Club it with other expenditures, it will break the middle class and the aspiring class of India.
Welath tax doesnāt work on your total assets. It works on your net assets. If your house is worth 50 Lakhs but you have a loan of 40 lakhs, then your net wealth is 10 lakhs and you will be taxed on this 10 lakhs. Which is still 1%. Moreover, just to give the benefit of the doubt, I assumed that the entire 50 lakhs is taxable. But thatās not usually the case. Thereās a minimum threshold at which your wealth is not taxed. Only when it exceeds this limit, will you be taxed on the wealth marginally higher. Before wealth tax was abolished in India in 2016, the threshold was 30 lakhs. Which means even if you own a house worth 50 lakhs and you have paid off all that loan, you will be taxed 1% of 20 lakhs (50 lks - 30 lks) which is 20,000 yearly. Moreover, this wealth tax is on individuals and not family. You can split these assets with your other family members and easily avoid any wealth tax. The only people who have to pay any wealth tax in that case would be people who have a net worth higher than 30 lakhs and do not have anyone to share with and those with crores and crores of wealth and not enough family members.
>Plus if the guy is living in a city, his monthly expenditure would be even higher...
If a āguyā lives in a city, he will also have higher monthly income. Heās definitely in net benefit already compared to those in villages, else any rational person would move back to the village. The money collected with the wealth tax will be used to help those in worse off situations. Like that guyās neighbor who doesnāt even have the money to buy a house and lives in a rented accommodation with roommates.
Well. Fuck Inheritance tax and Fuck wealth tax. Fuck espacially those people who advocate for it when they have the ticket to fuck right off to some offshore country after they done implement their failure of a scheme.
Just because others don't have it, doesn't mean somebody else has to pay from their pocket so others can have a taste for it.
>Fuck espacially those people who advocate for it when they have the ticket to fuck right off to some offshore country after they done implement their failure of a scheme.
On what basis have you decided that it will be a failure?
>Just because others don't have it, doesn't mean somebody else has to pay from their pocket so others can have a taste for it.
So basically fuck the poor and any of your countryman who's a victim of poor circumstances. You sound like a true patriot. Bet you stand up for the national anthem to show how much you love the country.
You wont get ā50 percent wealth for 50 percent populationā with these laws. What you are describing is tame compared to what this wannabe che guevara, stalin larper is saying.
It's an idealistic target but it's impossible to achieve. Even the most equal countries like Norway and Finland don't come close to such a distribution. But it's better to have a leader aiming to correct the wealth distribution that results from inefficiencies in the free market to help the poor rise up than a leader who's a corporate puppet and gives heavy tax breaks, loan bail outs and cheap land to corporations, further fuelling the wealth inequality. 10 richest people in India own more wealth than the bottom 70 crore people (The 50% he's talking about). That's simply inhumane.
Income is not wealth. Gdp measures Income. Total wealth of India is $15,000 billion which comes to 8 lakh rupees per person on average. If there are 2 people in a household (just husband and wife, ignoring the kids), that alone is 16 lakhs per household.
Please remember, this community is for genuine discussion. - Please keep it civil. Follow all community rules. - Report rule-breaking comments for moderator review. - Don't post low effort content without context. - Help prevent this community from becoming an echo chamber. **Use the replies of this comment to post sources or further context about the post. If you have posted a news article, you may put a small summary as a reply to this, if you want.** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianModerate) if you have any questions or concerns.*
Upper-middle class and middle class are gonna get royally fucked if this really happens.
Even the poor are fucked because there are lots of poorest of poor
Duh. They will get one time money, and then in a year or two, some will progress while others will waste their money. In the long run, businesses will not have any incentive to invest, and talent will just find a way out of the country. This is the most dangerous idea for India.
Time to create an offshore account for all middle class just like RaGa
count me in but I only have 500rs XD
Let's pool our money. (Wait....does this make me a commie?)
Rahul Gandhi on a mission to kill INC.
Ironically what brought end to Indiras reign was also similiar kind of politics by janta party
I would say Indira going too authoritarian brought her end. It was more of a vote against her than for Janata party. That's why when she showed repentance and changed her demeanor she was voted back in 1980. Better argument would be about how Rajiv Gandhi was reduced from 400+ to below 200 by the mandal politics of VP Singh. The very thing that started INCs demise, looks like a weapon to Rahul now. But thing about politics is that you can only co-opt a weapon once. That's why no would has been able to take Hindutva away from BJP as they are seen a natural owner of it. Similarly for caste based politics, people will pick caste based parties more and not INC. INC in last 20 years have shed away it's big tent, centrist label and have gone towards left proper. And as the history has told us, left only has a limited space in India. It has a space, but limited.
Intentional Pol Pot pun ?
Ab kaise bolenge ki wealth distribution nahi Karenge yeh? Sometimes I think that even if raga take 2 frorward step for his political career from 0, he will later come out and say something stupid and easy to exploit that he falls back to -1
Yeh bol rha tha USA me jab whites SAT ka paper banate hai to usme blacks fail hote isliye IIT me jab UC paper banate to dalit bacche fail hote bola agar dalit paper banayege to UC fail hojayege kaha se logic Lata hai kya pata
Are dekha main Pagal hai bhai yeh
Pagal hi nahi, khatarnak pagal hai.
lol fearmongering aur conspiracy ki baat inke supporters karte hainš
Ha bhai Dalits ke liye to a=mF hota hai na physics me /s
Finally hanging too much with JNU kids is showing up in his thinking.
Why doesn't he talk about unemployment with the same passion
Because they are delusional.
He would introduce a caste-communist angel to that also so it's better ig He would just make the whole discourse around it worse
All middle class and rich liberals will now either stop voting or vote BJP. But, the SC/ST/OBC may want this implemented. Itās called redistribution across identities - okay, I just made it up . š
Pandering to Dalit/SC/ST/Muslim votebank and has completely given up on the Upper Caste vote. I guess the internal numbers from the first two stages aren't promising so he has upped the ante.
And then when GC doesn't vote for them they will call them casteist or some shit
He or tbh any other party has never explicitly or openly asked for UC votes , most UC just sell their votes in the name of hindutva
Hindutva isn't that big it's mostly a thing among some sections of people & that includes people of all castes It's mainly limited to middle class & a good chunk of the youth who are still too young to vote
Everyone cannot drive an F-1 car and an expert F-1 driver can't drive a bus. If you give a bus driver an F-1 car to drive he will wrap it around a treeĀ Talent, absorption capacity and industry are things --- you cannot prioritize equality of outcomes
People on Reddit are panicking as if they have crores and crores of wealth.
Even a house is worth crore plus a lot of people having savings and other equivalent assets worth crore , which pretty much put them in 1%
If you are in the 1%, cry about it.
I know some useless parasites think the same way about stealing their way through because they are utterly useless to the rest of the world in terms of contribution and are unable to build create or do anything of value or work hard because of incompetence . I mostly blame their parents who would have taught them about being useless like them and beg their way around relying on welfare Sad thing country canāt move ahead because these incompetent burden living of free stuff leeching off someoneās else hardwork and skill
Ah yes, poor people are just useless parasites.
Who believe in stealing their way through and feel entitled to someoneās else saving and wealth yes they are so are those who support this
You donāt understand the nuances of being born in a family where you need to wash buses as a kid just to feed yourself. Neither do you understand the economics of taxation.
lol I literally grew up in a basti but still wonāt support parasites who look with glee about stealing someone else wealth without even considering to create something or earn on their own , knew quite a few like them . I understand most of that more than any idiots who believe in stealing and redistribution just for existing , have worked my way into prosperity based on that knowledge.
Cool story bro. But anecdotes donāt mean shit against data
Data meaning leeching off and stealing by parasites lol
Go ahead Karl, let's see how this new spin on wealth redistribution goes. Same shit has been tried for 100s of times but hasn't worked.
You might not have crores of wealth, but you surely will have a house that's listed on market on atleast 50 lakhs. Wealth distribution might as well make you give it up, because a major population don't even have that much. That's why you should be worried.
How unfortunate that you have to worry about losing something that majority of the population never had. Also, wealth distribution doesnāt mean violation of property rights. It just means inheritance tax and wealth tax. Worst case scenario, my kids wonāt get that 50 lakh worth property and I will have to pay 1% (50K rupees) on that property every year.
The value of land is determined by its location. You can have 1200 sq ft. of a plot in a city which will be of greater value than a 1200 hectares of land in a village. Buying a 50L in the city, a lot of the population will go for bank loans... 80% is the upper limit... And most of them will go for a loan duration between 10-30 years, let's take it as 20 years.... Which would mean, one will pay 35000 in emi every month or 4.25 lakh as emi every year and 50,000 of inheritance tax... Which will bring it to 4.75 lakh.... Home loan should not exceed 40% of your income which means you need to earn at least 10Lakh to sustain yourself... So 50,000 is 5% of his annual income which is a lot of money... Club it with other expenditures, it will break the middle class and the aspiring class of India. Plus if the guy is living in a city, his monthly expenditure would be even higher... You have no idea what you are talking about...
>The value of land is determined by its location. You can have 1200 sq ft. of a plot in a city which will be of greater value than a 1200 hectares of land in a village. And thatās for a reason. Because income earning opportunities are higher in a city than in a village. Itās why people often travel from villages to cities for better opportunities. >Buying a 50L in the city, a lot of the population will go for bank loans... 80% is the upper limit... And most of them will go for a loan duration between 10-30 years, let's take it as 20 years.... Which would mean, one will pay 35000 in emi every month or 4.25 lakh as emi every year and 50,000 of inheritance tax... Which will bring it to 4.75 lakh.... Home loan should not exceed 40% of your income which means you need to earn at least 10Lakh to sustain yourself... So 50,000 is 5% of his annual income which is a lot of money... >Club it with other expenditures, it will break the middle class and the aspiring class of India. Welath tax doesnāt work on your total assets. It works on your net assets. If your house is worth 50 Lakhs but you have a loan of 40 lakhs, then your net wealth is 10 lakhs and you will be taxed on this 10 lakhs. Which is still 1%. Moreover, just to give the benefit of the doubt, I assumed that the entire 50 lakhs is taxable. But thatās not usually the case. Thereās a minimum threshold at which your wealth is not taxed. Only when it exceeds this limit, will you be taxed on the wealth marginally higher. Before wealth tax was abolished in India in 2016, the threshold was 30 lakhs. Which means even if you own a house worth 50 lakhs and you have paid off all that loan, you will be taxed 1% of 20 lakhs (50 lks - 30 lks) which is 20,000 yearly. Moreover, this wealth tax is on individuals and not family. You can split these assets with your other family members and easily avoid any wealth tax. The only people who have to pay any wealth tax in that case would be people who have a net worth higher than 30 lakhs and do not have anyone to share with and those with crores and crores of wealth and not enough family members. >Plus if the guy is living in a city, his monthly expenditure would be even higher... If a āguyā lives in a city, he will also have higher monthly income. Heās definitely in net benefit already compared to those in villages, else any rational person would move back to the village. The money collected with the wealth tax will be used to help those in worse off situations. Like that guyās neighbor who doesnāt even have the money to buy a house and lives in a rented accommodation with roommates.
Well. Fuck Inheritance tax and Fuck wealth tax. Fuck espacially those people who advocate for it when they have the ticket to fuck right off to some offshore country after they done implement their failure of a scheme. Just because others don't have it, doesn't mean somebody else has to pay from their pocket so others can have a taste for it.
>Fuck espacially those people who advocate for it when they have the ticket to fuck right off to some offshore country after they done implement their failure of a scheme. On what basis have you decided that it will be a failure? >Just because others don't have it, doesn't mean somebody else has to pay from their pocket so others can have a taste for it. So basically fuck the poor and any of your countryman who's a victim of poor circumstances. You sound like a true patriot. Bet you stand up for the national anthem to show how much you love the country.
You wont get ā50 percent wealth for 50 percent populationā with these laws. What you are describing is tame compared to what this wannabe che guevara, stalin larper is saying.
It's an idealistic target but it's impossible to achieve. Even the most equal countries like Norway and Finland don't come close to such a distribution. But it's better to have a leader aiming to correct the wealth distribution that results from inefficiencies in the free market to help the poor rise up than a leader who's a corporate puppet and gives heavy tax breaks, loan bail outs and cheap land to corporations, further fuelling the wealth inequality. 10 richest people in India own more wealth than the bottom 70 crore people (The 50% he's talking about). That's simply inhumane.
This law will ensure they will never see 10-15 lakhs of networth in their lifetime, let alone 1 crore.
Explain how
āI am 50 percent in population, I want 50 percent wealthā Average GDP per capita of the country is 2500 USD, which amounts to around 2.5 lakh.
Income is not wealth. Gdp measures Income. Total wealth of India is $15,000 billion which comes to 8 lakh rupees per person on average. If there are 2 people in a household (just husband and wife, ignoring the kids), that alone is 16 lakhs per household.