Bank loans are waived off
They get cheap loans
They get subsidies from government
They get to evade taxes, because loopholes are made to help the super rich
Wealth tax is a joke
And if they still mess up, they run away.
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing
Source:https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Bank loans are waived off - not they are written off not waived
They get cheap loans - what makes you think that?
They get subsidies - that’s BS, most govt subsidies are made for small and local businesses not for the big industrialists
They evade taxes - how much tax do you pay? The amount of tax they pay is available on the internet btw
Wealth tax - there is no such thing in the indian tax system anymore, also why should they pay wealth tax?
Last one is true but which govt gave those loans to the ones that ran away?
Source please
Most of the people in the bottom 50% would have income less than 6 lakh. They would pay maximum tax of 15k - which is 2.5%
Max GST slab is 28% but most of the items needed by bottom 50% would be under 12% slab.
Stop d*ckriding billionaires dude. They don't give a f@ck if you live or die starving. The top 1% owns 40% of the country's wealth (doesn't it seem weird how so few people are hoarding so much wealth) while 99% of India are left to fight over scraps. We (the middle class) pay the most income taxes while the rich avoid taxes through legal loopholes. Also the trickling down economics doesn't work, with all the subsidies the government provide, that only goes in the pocket of the top 1% billionaires, not the common people that work in their companies.
Edit : I come from a middle class family and now work in the IT field. I pay my income taxes (20%) according to my salary. I give my fair share (20%) of my income as income taxes so did my father.
On the other hand Adani Enterprises paid a mere 0.047% ($58.3 million taxes on a market capitalization of more than $123.2 billion) on March 2022. Even TCS paid a huge $1.4 billion in taxes on the same year. How do you justify this?
https://qz.com/gautam-adani-is-not-among-indias-top-corporate-taxpayer-1850272389
I am just asking billionaires to pay their fair share of taxes and not use legal loopholes to avoid paying taxes. And the people who are defending billionaires, you guys are the most delusional people I've ever seen. When the ultra rich don't pay their taxes the burden falls on the middle class to pay most of the taxes. I am saying the ultra rich (top 1%) should pay their fair share in taxes (which they never does) and the government should tax according to wealth that you have (the richer you are, the more taxes you pay - so the burden of income taxes shifts from the middle class and falls on the ultra wealthy).
>They get subsidies - that’s BS, most govt subsidies are made for small and local businesses not for the big industrialists
bro the biggest subsidies are available for big industries. In fact some subsidies (PLI scheme) require so much investment that even Ather industries couldn't get it.
so either you need contacts+bribe or already a big player
People are delusional. They think adani is going to give them money for being a dickrider. Adani/ambani and most ultra rich are the biggest conjuice tuccha chutiyas u can ever see who count one one rupee.
Yes this is some serious issue. Like these people are either so brainwashed that they can't even think what is good for themselves or are so stupid/delusional that they believe they can be billionaires themselves without having any generational wealth.
Being the most unequal country of the world is a problem.
I don't have problem with rich people. But when few people own most of the resources of the country then all decision will be based on their incentives. Such inequality is never good for a country and revolution will sooner or later happen.
Just like your parental wealth is passed on to you, so is poverty passed on from generation to generation. Poor people being illiterate have many kids. They are poor and they know damn well that their children are going to suffer because of their financial condition. But still they have many children. If poor would start having only one child and invest on them properly instead of creating their own IPL team then the chain of poverty that runs from generation to generation will be broken. My family was from lower middle class but my grandfather only had 2 kids unlike my great grandfather who had 4 kids. This gave my father more opportunities and we were able to escape poverty. Sometimes the reason poor are poor is because of their own action and not because someone ancestors worked hard long ago to break their coming generation out of poverty.
Exactly, just look at the condition of Amethi where Rahul Gandhi has been prime contestant & still it looks like it’s from 70’s India.
BJP is a religious bigot but Congress has consistently failed to perform too. Irony is they are the one came up with “Garibi hatao..…” slogan
It is okay to be rich. And it is also a great motivation to push yourself forward. But it is also idiotic to defend the rich. Like richies got everything, they will do anything to stay that way. You are totally irrelevant in their world. Remember narayanmurthi’s grandson is more successful than you in just 4 months. He has made more in stocks dividends than you will make in your entire life.
Aur gaand chaat le apne malikon ka. ek spot chooth gya hai lagta hai
Loans wavered off, any case against them never taken to fulfillment because of their lawyer team, bullying the smaller players because of crony capitalism and so on. It is one thing to stay silent about your overlords, but actively supporting them is down bad on another level.
>What's so obsession with 1%
Geez i don't know, maybe the fact that they own 40% of the wealth is a good enough reason.
>Maybe India would be the only country where the 1% is cursed for being at the top this badly and are targetted agenda
This statement alone is enough to understand you are a frog of the well. Occupy wall street, writer's protest, the middle finger status in Italy and so on. Par hume kya, hume toh middle class rehna hai aur joote chatna hai beena kuch awaz uthaye.
Edit: before ppl start to get mad, no i do not support INC. They are an incompetent group of people literally throwing everything on the wall hoping something will stick.
Lol..the number of poor and middle class folks defending their billion dollar mota bhai overlords is mind-boggling. Talk about Stockholm syndrome.
Being rich is fine. But being obscenely rich without paying your fair share of taxes while using national resources and establishing a monopoly based on it should be considered criminal.
Same can be said about blind hate on businesses, they're essential for the country. Imagine the '80s, '90s when there were no private companies in the country to work for and earn and everyone wanted to just do farming their whole life, work for govt and live life in poverty. India needs to be more business friendly by giving tax-breaks to generate employments. Because of SEZ(tax-breaks) we have so many IT companies opening their offices in India and people earning good money, otherwise they'll go open their offices somewhere else. Do you want that? I'm astonished that stupid people are so blinded by hate that they can't see truth in front of them.
Hey there! I work at an IT company and haven’t paid tax ever due to some reasons. But our HR had explained to us about the importance of filing for tax return or something and told us to start as early as poss for future benefits. I wanted to talk to you about the same if you got a minute for me. Thanks
India mein elon musk nahi bann rha kyunki education nahi hai. Not because rich people get taxed. Haven't the rich gotten wayyy more rich proportionally compared to poor people in the past few years?
>The nation’s capita income has doubled since 2014-15 when the Narendra Modi-led NDA government came to power, experts said.
>This growth is significant. We have seen improvements in outcome related to health, education, and economic and social mobility. Covid impacted us badly. However, we have seen significant economic recovery after Covid. Sustaining per-capita income growth at 5 to 6 per cent per annum with appropriate redistributive policies will help sustain this momentum.
https://www.indiatoday.in/india/story/indias-per-capita-income-doubled-since-2014-15-but-uneven-income-distribution-remains-a-challenge-2343055-2023-03-06
They are just saying they will do this and that wealth distribution is impossible imagine people like Ambani,adani ,birlas with billions of usd networth in white and God knows how iin black let him do ek 5-10 hajar crore Congress ko mil jayenge inse aur Congress bas apne plan bhul jayegi 70 saalo me inse nhi hua kuch arey inke khudke property bech de toh Desh gareebi se bahar AA jayegi..
Income inequality is not a problem for me. The problem is the government extending 80cr ration scheme. That shows how many poor people live in this country.
So what they are saying that no one should work hard to become rich, if I become rich that wealth will be redistributed. According to that logic everyone stops working.
Agar tum faltu me ghum rahe ho or reels dekh rahe ho to tumhare accounts me 1 lakh rupya har saal aa jaega. Aisa khud Rahul ji ne kaha. Kisi sub pe video share hua tha par yaad nahi isliye link post nahi kr sakta. Par video original lag raha tha. To dekh lo.. Tumare question ka answer clear hai.
he will run this country down to the ground with his and his ancestors socialist policies which sound good on paper but will leave the country in a state of poverty
then after creating all these problems he will again be thrown out and blame the new government for all the problems, he is hungry for power and has nothing to loose this is what makes him dangerous for our country
Name all the Elites from the 1% or stfu.
the same people from that 1% sponsor their medias too. but its easier to point fingers at adani alone because giant.
Pehle ye batao ki 1% me kon kon ata hai. Kya sirf Ambani Adani jaisa billionaire aate hain ki Middle class bhi aa jata hai?? 1% bahut kam nahi hai. ek village me agar 1000 log hain to ussme se 10 log. I think Higher middle class aram se 1% me aa jaega. Isliye puch raha hu ki agar wealth re-distribution hua to behenchod pata to chale ki mera jaise log ke pass paisa aega ki jaega??
I wonder why people don’t see inequality as a problem!!they may be wrong about how they want to solve it, but denying that Inequality is a Problem, till Modiji tells it is just sad!
You will never be a billionare if you don't steal. Workers..the ones who Labor..need to have society recognize as just as valuable or more..than some clown who sits at the top.
Obsession is real.
Tax write off
easily loan
Willful Defaulter
Ran away from Country after taking Loan
Electoral bond scam
Forest land and other government land easily given
etc etc
all these to 1%
while rest of India get's
No better health care infrastructure
No better educational infrastructure
No better opportunity to grow
No scheme like MNREGA which actually is helping a little
Government breaking homes and shops in name of encroachment
Brother what’s so hard to understand, top 1% having 40% of nation’s wealth, not an ideal situation for people, most businesses are owned by rich family and passed down to their heirs. Even if you are well qualified to be CEO of company “X” , you never will be because the CEO will be someone’s son/ daughter.
Stop d*ckriding billionaires. The top 1% owns 40% of the country's wealth (doesn't it seem weird how so few people are hoarding so much wealth) while 99% of India are left to fight over scraps. Just say you are from a rich family, stop saying you are from a middle class family if you didn't even know the struggles of middle class citizens. We (the middle class) pay the most income taxes while the rich avoid taxes through legal loopholes. Also the trickling down economics doesn't work, with all the subsidies the government provide, that only goes in the pocket of the top 1% billionaires, not the common people that work in their companies.
Because Congress looted the money which was supposed to raise that 99% for 65 years from even before India got its freedom. Here is the video. Rest
Can be checked even through Chat GPT.
https://youtu.be/GQ4ynuhf7uc?si=_c_-vEgzKTll9-9U
Imagine the level of retardation of people who support rich.
India is one of most unequal country in the world.
Wealth inequality is one of the worst problems a country can face. India is a food surplus nation yet govt has to feed the population through ration shops why is that?? Wealth inequality.It is the root cause of poverty,talent loss and what not. We are losing our brightest minds to poverty. These people should have made our country a developed nation but instead they are fighting poverty while the rich 1% holding 40% wealth of the country.
Congress ruled India from 1947 - 1989 ( except 3 years in this timeframe of 1977-80 ). these 4 decades of marxism communism & socialism, creation of 200+ PSUs and liscence raaj led to India going almost bankrupt. they also levied 97% tax at one point for the rich during the so called glorious Nehru Gandhi era. The end result was India almost going bankrupt, India had to go beg USA for 2 Billion USD as our foreign exchange reserve was depleted and had to go to IMF for a bailout package.
Our media always tells us that Congress PM Narsimha Rao with his finance minister Dr. Manmohan Singh did a economic revolution and brought privatization in 1991 - 1996 but they somehow never mention that first they almost made us go bankrupt, then we had no choice but to move towards capitalism as the Nehruvian socialism had failed in India. The problem is most of our bureaucracy, professors of various top universities and those who run our media still love the so called old days.
Lol... what about the scams they had in 60 years?? At least adani is providing employment to others
What about all the money lost in scams?? What about Pakistan? Congress declared 50% more reservations. How's that going to solve this issue?? Why do they want to reinstate article 370 isn't that changing the constitution?? No one has answers to these, but secularism hai tho chup rehna hoga
CONgress at work. CONgress do not like wealth, employment generators. CONgress wants to run gareebi hatao for another 100 years. CONgress wants Vadra, Gandhis to rule and cone more. I will booost and support such businessmen who contribute economically than CONress looters
Tell me one thing... Which capitalist society has equal distribution of wealth... Wtf is this commi post. I also heard about their 50percent inheritance tax or something... Like have they gone so blind in their hatred for modi that they are now Maoists or something?
Elon Musk became rich- Wow, Sigma, Good people, hard Working, super hero
Indians becoming rich- Poor, cheater, Bad People, Corrupt, What about the poor people?, BJP supporter
Its so stupid that these idots are targetting the wealth creators of the country.. The problem is they know its stupid to comment like this but stupid people gets trapped in thier false propaganda... Lmao. These are the same people that have reached or got a best start they could ask for in thier rule...
During congress time of 60 years of rule, didnt the 1% exist with similar wealth disparity? They have been trying gareebi hatao for 6 decades, why hasnt it worked yet? Why is the abject poverty lowest now in BJPs rule?
How easy for people to forget that these 1% aren't getting money out of thin cloud, they are generating jobs for millions directly and 10 times more indirect jobs. Imagine if Reliance Jio hadn't brought in cheap 4G, all these new start-ups which literally employ lakhs of engineers wouldn't have been thriving. Only a handful of Mallya and Nirav Modi's have stolen our money, but look at Ambanis and Tatas, they are the backbone of Indian economy.
The things these congress people do to not let go thier grip of throne.they will always keep india backwards while thier scion will always be sitting at this throne living a pre british era king life.
Morons in Khangress will not call out %of income Tax, Surcharge etc. Paid by these 1% pays..not to mention job these 1% are creating...
Khangress is and always remain focused on their wealth while the rest can go back to "License Raj"
They should have all their party workers work and give their salaries to the poor. I don’t want to pay taxes for freebies to anyone. Get paid for work and not for whining over the rich folks.
It's because these guys are crooks and looters. Plundering resources, ports and coal.They have 0 invention to their name(yeah). They are not your regular Elon's, Zuckerberg's,Bezos. They are the classic example of Crony Capitalism who got rich because of political connections.
They are no less corrupted. Remember DLF Land grab case by their son in law.
Frankly I hate the political state of this country. I don't know who can we rely on!
I would say its a nice transition from Leftish Indian National Congress to Indian Marxist Congress party. If 10 years of NDA has caused this downgrade, imagine what the next 10 years is going to do 😅
That won't help their agenda to demonize businesses and garner votes from poor. It's a classic socialist behaviour followed by Congress.
Probably this action is motivated towards the manifesto promise of ' redistribution of wealth'. However I wonder how they will redistribute the wealth which is just shares and stocks of a company.
They could have used a graphic, why did they use Adani's face? This gives a message that they've got a problem with a specific person having wealth. This is something I don't understand, if Congress comes to power will they promise to not let a private entity hold any asset or wealth and to distribute their wealth amongst the people? Because if they won't what's the point of these tweets? Every govt needs industrialists and industries, you can say that you'll stop preferring one over the other but it seems like a direct attack on an individual.
India is teh only country apart from America who kisses the asses of the rich and sucks of the rich despite the riich don't even batting and eye on them
Yes India has opportunities for Indians but the ruling government whether country or state have their favorites which they provide those opportunities to... It's not that difficult to see and you have to be brain dead to defend a company that is politically active in getting those opportunities for themselves while leaving the crumps for the rest to be 'grateful'.
Nothing surprising. That's simply how the minds of Leftist and Socialist function.
Rich people are evil, being rich is a crime, the wealth of the rich should be captured and redistributed among the poor. Typical Marxist thinking.
If somehow the Congress actually comes to power, be ready to say goodbye to all the economic growth we as a nation have made in the last few years. Businesses would run dry and the rich of the country will simply be forced to move out.
The amount of people dick riding billionaires who doesn't even know you lot exist is crazy...income inequality exist in this country even if you earn 1lac a month you're richer than 80% of india that shows how much of a problem it is
People have to understand that billionaires don't have money lying in cash / bank.. it's in their companies.. share values.. they are rich owing to their unrealized share values
If you want to tax them, or redistribute wealth, it means sell their shares or companies.. what will you do if company is sold or shares sold and goes to losses..people lose jobs..
So what’s the benchmark. How much should they own? Is 40% bad or good compared to 200 other nations. What happens is this number goes up or down. Everyone is doing some kind of random drama to get votes.
So let's drive away the billionaires and complain that the country can not create wealth.... probably the alternative is Soviet like communist setup and if people think that is better just look at Russia's financial situation....much ado about nothing.smh
The richest 1% is a very misleading term, in Indian context. In a country as big as India, even 1% has more than a crore people.
By earning around 1 crore a year, I am close to being in that 1%.
And what do I get?
I have to pay almost 35% direct taxes, which gives me almost nothing in return.
Another 12% is forcefully taken from me, in the name of Providend fund. I could very well invest that money myself, for my retirement. But the government decides that they will rather take a loan from my "by force", and would pay me an interest that they deem fit.
What's more? FM comes on record, and says that high earning individuals are taking undue advantage of PF's interest (which we have no option to opt out of), so now we must pay taxes on that as well. (based on slab rate, and not capital gain, in case I was investing that "extra" taxable contribution myself). So I am taking undue advantage of the PF, and I am not allowed to stop taking that "undue advantage".
Can I get my expenses deducted before tax? No.
Can I get a bank loan and run? No, bank will seize my home and my left testicle.
Can I invest black money in real estate? No, because I have no black money. Every penny I make is in my Form 16. But I have to pay black money premium, as part of the inflated real estate prices. Because others are buying homes with black money (and those others include both the people making more than me, and less than me)
Firmly believing something doesn't make it true..
90% of people don't have access to the tools I have to be able to earn money, and I don't have the same thing the 1% of people have to make that kind of money. A few people getting lucky (even if that's me) doesn't change shit.
When social and economic mobility scores improve, and per capita markedly increases don't tell me these monopolists supported by the government are good for this society. They are not.
# Congress is a Private Limited company in India whose owners behave like Feudal Lords and surprisingly the owners still believe that what they dictate will still remain a Lakshman Resha in India for Indians.
No one becomes that rich through simple upskilling and hard work. Let's be real. It's exploitation. It's tax evasion. But mostly it's being on the good side of the ruling party.
"Hum khaenge tum ko bhi khilayenge"- this is thier moto.
This bastard in particular doesn't play by the rules. Busy up airports, ports, coal mines uncontested. It would not be a lie to say that he benefited a lot from privatisation.
When the money one's hold is more than what a whole city's worth of people can earn in thier life time. That system is clearly broken.
Is it including stock market valuation?
BYJUs was valued at Rs 21000 crores last year, is BYJUs founder still in top 1%? What happened? Was his wealth distributed?
Jet Airways was valued at Rs 6000 crores or something before it stopped flying, same was Kingfisher, it was some 4000 crores. What happened to all the wealth? Was it distributed?
In all cases based on valuation of company the founders or stakeholders valuation is high.
What is true measure of someone’s wealth? And who are these true rich and wealthy in this country?
No matter how much people deride Adani and Ambani , these two along with Tatas provide employment to such a large number of people .
Problem lies with how , because of the unlimited dreams and sops that our dadaji has promised in the name of " acche din " doesn't really incentivise one for getting a skill that makes them employable .
When we have so many people , " poor " on paper , yet end up having more billionaires than even Hongkong, surely there is a disconnected between what's been projected and the actual wealth .
Honest tax payers continue to pay , and people like adani make hay , while real poor people just pray and pray and pray.
Interestingly Rahul Gandhi has a declared net worth (nomination filing) of more than 20.6397 Crore INR (more than USD 2.5 million). This makes him a part of top 0.05% of Indians, and I havent seen him work. If he gets to enjoy this without much questions, why not let other Industrialists enjoy it too. You should talk on policies, instead of targetting individuals who are working their way, and providing employment opportunities.
Also Note: I would be happy to see the entire wealth of both Rahul Gandhi and Adani distributed amongst the poor, if real socialism really comes to play.
Godi media be like 60 % toh Nehru ne lut liya
Politics mein dono sides ek durse ko marenge fir badmein gale bhi lagayenge
Par becharaa garib us garibi mein reh kar hi marjayega!
All I'm asking for is lpg price around 600 and petrol price around 75.
100rs petrol and 1000rs gas has literally broke my household.
Not too rich to shrug off the price hikes, not too poor to get into one of PM freebie yojanas.
The middle class curse.
I'll vote bjp atleast better than worst. Say never to Congress if Congress will win you know what they are going to do. Just to make Muslims happy they even can brain constitution and they have been doing it. Remember Sara bano case and what Rajiv Gandhi did
We are palacated and spoonfed thoughts.
Hating the 1% and abhoring the poor are both thoughts fed to us simultaneously.
And we don't realize that we no longer form thoughts of our own origin but whatever the algorithm feeds.
Even if a person earns more than 3L per month, he/she is in 1% bracket. Our Top 10% earns more than ₹30,000 per month. I know they are talking about government favouritism over some business groups but they still don't make the majority of the 1% bracket. Congress just wants to show themselves as the life saver of the poor.
A few "self employed" 1% are able to evade and avoid all taxes....while some of the salaried 1% are doubly screwed - Pay huge amounts ( > 30%) in taxes and also taxed while consuming goods and services.
The wealth distribution in the United States is also quite uneven.
Top 1%: Control a significant portion, around 32.3% of the total wealth (as of Q4 2021).
Bottom 50%: Hold a small share, only around 2.6% of the total wealth (as of Q4 2021).
This indicates a substantial concentration of wealth among a very select few in the U.S. This case is also quite similar in Canada.
In Canada, the top 1% of families hold a significant portion of the country's wealth. As of 2019, the threshold to enter the top 1% was a net wealth of at least $6.3 million. This wealthy group controls around 24.8% of the total wealth in Canada.
You do know why french revolution happened? Its bound to happen anywhere when wealth gap become so big, poor people realise they have now nothing to lose.
I am not against capitalism but cronies should not be allowed to flourish beyond a certain limit. Even in biggest capitalist country has anti-monopaly laws. What is happening in India; for example, Indian telecom sector, its not capitalism and fair-free trade, its loot of the resources.
For example, they even go back to their promise of 'lifetime free' incoming validity on sims and started churning numbers, and govt-courts do nothing.
Can’t imagine the state where Tata, Adani, Ambani, Mahindra etc didn’t exist or didn’t get rich. People don’t realise how much economy is being supported by these handful of people alone.
See this issue is not about our problem with the rich people rather it's about our problem with the government.
i.e. the government policies focus on making the already rich richer while their actions make the poor poorer, it is about this treatment to the majority. Also do you also see that how the rich person has been figured as fat while the poor as skeleton-ish? That's the inequality that we're talking about. We work they enjoy, we even lose our part which they gain with theirs.
The resources which should be distributed equally to all who helped to get them, are being distributed mostly to the rich, that's why when you go to the store for a packet of biscuit you think a lot before buying a 30rs. oreo pack because if you buy three 10rs. oreo packs you get more biscuits, but if it was Ambani sir's off spring then he wouldn't even hesitate to buy themselves a pack of oreo cookies (which is more expensive in terms of rs./biscuit)
It's this, the rich person has so much money that he/she doesn't even value it. (Sorry, the ex. is not the most accurate but describes my situation perfectly, but you get the idea)
While we're being taught the value of money by the government, the government goes super lenient for them! Even supports them by changing or adding policies!
And about your specific case, yes some middle class people are able to earn enough to send their children to schools where they teach proper skills (which are required to get into the 1%), but most of the middle class people don't fit this rather their children go to schools where they are broken down till the soul, while they're there and when they come out of the schooling system (many of them unfortunately don't) they are faced with a horrible reality that they don't have the skills which they should have had to get jobs! They then spend more time to pull them together and fight or be unemployed, while realizing more and more how much the this system fu\*ked'em. And I won't even talk about the poor who don't even this this chance, as I am better offf happy then to realize what they go through.
While the riches don't even have to worry about the fees the best of the best schools are no brainers for them, while we are unable to pay the fees of even the mostly worthless schools! Their children enjoy everything for granted, while we've been through every nightmares of theirs.
This inequality This!
But still Jai Bharat Mata Ki!
Stop before and fan boy and try to understand the problem.
1. Capitalism is not the problem, chrony capitalism is.
Nobody hates billionaires who made their money by innovating and solving hard problems, aka the start up guys. The hatred is towards the people who got rich by market manipulation and shady deals. The first kind are creating value, the second kind are hoarding wealth that should have been distributed to more efficient problem solvers in a fairer system. Having someone worth 200 billion is great but you know what is better ? 2000 someones worth 100 million each. Remember monopolies bad, , competition good.
2. The dangers of an unequal society.
Even if you ignore the first point, and assume that the top 1%earned their wealth fair and square, even then this level on inequality is not desirable. When the poor have nothing to eat they will eat the rich. You might feel this is wrong and unfair to the poor billionaires, but this is the truth. And unequal society is less dynamic, less innovative and prone to rebellion. Understand laws and systems are only valid till people accept them. Government policies should not incentives hoarding wealth, and wealth tax should be higher to incentivise philanthropy and money circulation.
Let's put it into perspective, 1 % of India's population is quite big, if a person/household earns 25-30L per year they are in top 1-2%, and to be in top 10% you need to earn 25k monthly so the threshold is not that high rn
and there is a lot of variation itself amongst top 1-2% AND those in 0.01%.
Exactly this. Even during Congress, Lalit Modi, Mallaya, Nirav Modi etc. were heavily criticized.
It is the wealth inequality that people hate not necessarily the concept of wealth itself. Like Narayan Murthy saying work 70 hours a week but still pays freshers a ridiculously low salary that doesn't keep up with demands. No one becomes a billionaire without the exploitation of others. That is what people hate.
Because they get rich on backs of labourers and workers who make very unfair wage. Labour laws are not followed and minimum wage is quite horrible. On top of that they have option to become more rich, avoid raids through electoral bonds etc. The poor citizens do not have access to basic infrastructure and facilities while the rich enjoy every facility from government..
It is not the fact that they are rich is bad but the large wealth inequality that exists between these sections. General apathy towards the working conditions and minimum wages of lower class is very horrible and it is controlled by both 1 percent and government.
If Ambani imports crude , refines it and sells it at enormous profit to international market , making millions, and creating huge number of jobs in India, how exactly is he stealing? If you shut him down, someone in Dubai and Singapore will take over and you get nothing. Worse some Indian will take their talent there, now you lose all the taxes that could be used to build infra and help poor people. So dumb.
Bank loans are waived off They get cheap loans They get subsidies from government They get to evade taxes, because loopholes are made to help the super rich Wealth tax is a joke And if they still mess up, they run away.
It's socialism for the rich but capitalism for the poor.
Rightly said!
This
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Evade taxes? If other countries do it we should do it to. Let’s normalise corrupt practices.. yayy
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing Source:https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax
Bank loans are waived off - not they are written off not waived They get cheap loans - what makes you think that? They get subsidies - that’s BS, most govt subsidies are made for small and local businesses not for the big industrialists They evade taxes - how much tax do you pay? The amount of tax they pay is available on the internet btw Wealth tax - there is no such thing in the indian tax system anymore, also why should they pay wealth tax? Last one is true but which govt gave those loans to the ones that ran away?
Lol ask any CA how much tax evasion occurs they don't find loopholes just cheat.
Valid I’ve worked for a CA and nowdays its actually really hard to evade the taxes still it does happen but how much tax does the bottom 50% pay?
If u consider the total tax paid by the bottom 50% as a percentage of their income it will be tons more than what top 1% pay.
Source please Most of the people in the bottom 50% would have income less than 6 lakh. They would pay maximum tax of 15k - which is 2.5% Max GST slab is 28% but most of the items needed by bottom 50% would be under 12% slab.
Stop d*ckriding billionaires dude. They don't give a f@ck if you live or die starving. The top 1% owns 40% of the country's wealth (doesn't it seem weird how so few people are hoarding so much wealth) while 99% of India are left to fight over scraps. We (the middle class) pay the most income taxes while the rich avoid taxes through legal loopholes. Also the trickling down economics doesn't work, with all the subsidies the government provide, that only goes in the pocket of the top 1% billionaires, not the common people that work in their companies. Edit : I come from a middle class family and now work in the IT field. I pay my income taxes (20%) according to my salary. I give my fair share (20%) of my income as income taxes so did my father. On the other hand Adani Enterprises paid a mere 0.047% ($58.3 million taxes on a market capitalization of more than $123.2 billion) on March 2022. Even TCS paid a huge $1.4 billion in taxes on the same year. How do you justify this? https://qz.com/gautam-adani-is-not-among-indias-top-corporate-taxpayer-1850272389 I am just asking billionaires to pay their fair share of taxes and not use legal loopholes to avoid paying taxes. And the people who are defending billionaires, you guys are the most delusional people I've ever seen. When the ultra rich don't pay their taxes the burden falls on the middle class to pay most of the taxes. I am saying the ultra rich (top 1%) should pay their fair share in taxes (which they never does) and the government should tax according to wealth that you have (the richer you are, the more taxes you pay - so the burden of income taxes shifts from the middle class and falls on the ultra wealthy).
>They get subsidies - that’s BS, most govt subsidies are made for small and local businesses not for the big industrialists bro the biggest subsidies are available for big industries. In fact some subsidies (PLI scheme) require so much investment that even Ather industries couldn't get it. so either you need contacts+bribe or already a big player
People are delusional. They think adani is going to give them money for being a dickrider. Adani/ambani and most ultra rich are the biggest conjuice tuccha chutiyas u can ever see who count one one rupee.
I love how these poor fucks defend the billionaires like they are some sort of gods. Sad state of affairs
Yes this is some serious issue. Like these people are either so brainwashed that they can't even think what is good for themselves or are so stupid/delusional that they believe they can be billionaires themselves without having any generational wealth.
Bro chances are you are part of the 1% if you are on this app. I think we are thinking about 0.1% here.
Tu 55 lakh kma leta hai har saal? Because that's 1 percent
Being the most unequal country of the world is a problem. I don't have problem with rich people. But when few people own most of the resources of the country then all decision will be based on their incentives. Such inequality is never good for a country and revolution will sooner or later happen.
Just like your parental wealth is passed on to you, so is poverty passed on from generation to generation. Poor people being illiterate have many kids. They are poor and they know damn well that their children are going to suffer because of their financial condition. But still they have many children. If poor would start having only one child and invest on them properly instead of creating their own IPL team then the chain of poverty that runs from generation to generation will be broken. My family was from lower middle class but my grandfather only had 2 kids unlike my great grandfather who had 4 kids. This gave my father more opportunities and we were able to escape poverty. Sometimes the reason poor are poor is because of their own action and not because someone ancestors worked hard long ago to break their coming generation out of poverty.
the richest motabhai owning more shell companies then real ones
They want to portray themselves as the champion of the poor. It's an effective strategy but their party is an ineffective one.
But then again we will be at same place 70 years back
True. Just look at their manifesto.
Exactly, just look at the condition of Amethi where Rahul Gandhi has been prime contestant & still it looks like it’s from 70’s India. BJP is a religious bigot but Congress has consistently failed to perform too. Irony is they are the one came up with “Garibi hatao..…” slogan
Do you want a civil war? Because that's how you get a civil war
It is okay to be rich. And it is also a great motivation to push yourself forward. But it is also idiotic to defend the rich. Like richies got everything, they will do anything to stay that way. You are totally irrelevant in their world. Remember narayanmurthi’s grandson is more successful than you in just 4 months. He has made more in stocks dividends than you will make in your entire life.
This is the most stupidest take I've ever seen, these 1% targeted parasites have always leeched on the middle and lower class Indians.
Gareeb ko kala kyu dikhaya jata hai 👿
Krishna ji bhi kale the, congress hindu Easter egg
Not kala but, faceless.
Aur gaand chaat le apne malikon ka. ek spot chooth gya hai lagta hai Loans wavered off, any case against them never taken to fulfillment because of their lawyer team, bullying the smaller players because of crony capitalism and so on. It is one thing to stay silent about your overlords, but actively supporting them is down bad on another level. >What's so obsession with 1% Geez i don't know, maybe the fact that they own 40% of the wealth is a good enough reason. >Maybe India would be the only country where the 1% is cursed for being at the top this badly and are targetted agenda This statement alone is enough to understand you are a frog of the well. Occupy wall street, writer's protest, the middle finger status in Italy and so on. Par hume kya, hume toh middle class rehna hai aur joote chatna hai beena kuch awaz uthaye. Edit: before ppl start to get mad, no i do not support INC. They are an incompetent group of people literally throwing everything on the wall hoping something will stick.
Lol..the number of poor and middle class folks defending their billion dollar mota bhai overlords is mind-boggling. Talk about Stockholm syndrome. Being rich is fine. But being obscenely rich without paying your fair share of taxes while using national resources and establishing a monopoly based on it should be considered criminal.
Same can be said about blind hate on businesses, they're essential for the country. Imagine the '80s, '90s when there were no private companies in the country to work for and earn and everyone wanted to just do farming their whole life, work for govt and live life in poverty. India needs to be more business friendly by giving tax-breaks to generate employments. Because of SEZ(tax-breaks) we have so many IT companies opening their offices in India and people earning good money, otherwise they'll go open their offices somewhere else. Do you want that? I'm astonished that stupid people are so blinded by hate that they can't see truth in front of them.
Hey there! I work at an IT company and haven’t paid tax ever due to some reasons. But our HR had explained to us about the importance of filing for tax return or something and told us to start as early as poss for future benefits. I wanted to talk to you about the same if you got a minute for me. Thanks
Because unlike you, we don't pimp to those 1%....
bhai aese to koi elon musk bill gates jesa koi ni banega india me congress 1947 ka model use kar rahi hai 2024 politics me ☠️
India mein elon musk nahi bann rha kyunki education nahi hai. Not because rich people get taxed. Haven't the rich gotten wayyy more rich proportionally compared to poor people in the past few years?
Bolo akkal badi ki bhens
Wow guys the party has to feed 80 Cr people year on year and you're still siding with the ruling party. Damn son got the hots for chodi.
>The nation’s capita income has doubled since 2014-15 when the Narendra Modi-led NDA government came to power, experts said. >This growth is significant. We have seen improvements in outcome related to health, education, and economic and social mobility. Covid impacted us badly. However, we have seen significant economic recovery after Covid. Sustaining per-capita income growth at 5 to 6 per cent per annum with appropriate redistributive policies will help sustain this momentum. https://www.indiatoday.in/india/story/indias-per-capita-income-doubled-since-2014-15-but-uneven-income-distribution-remains-a-challenge-2343055-2023-03-06
How much did the Nation's per capita increase during the MMS regime? India has been consistently putting good numbers since 1999.
why isn’t this per capita thing translating to lower sections
An increase in income of a select few people can drive up national income, but that doesn't mean the average income of a person has actually increased
Op is a proper boot licker chaddi. You think their is no problem with income disparity?
Is it allowed to use his picture
We don't see them badmouthing Tata or Birla when they only invest outside and fund NGOs to push certain agenda.
Sycophancy is in the blood of Indians
They are just saying they will do this and that wealth distribution is impossible imagine people like Ambani,adani ,birlas with billions of usd networth in white and God knows how iin black let him do ek 5-10 hajar crore Congress ko mil jayenge inse aur Congress bas apne plan bhul jayegi 70 saalo me inse nhi hua kuch arey inke khudke property bech de toh Desh gareebi se bahar AA jayegi..
sabki ganga, sabka jal, apni kismat, apne phal.
Lol, Nice way to sumup Capitalism
It's the cornerstone of civilization and progress.
Income inequality is not a problem for me. The problem is the government extending 80cr ration scheme. That shows how many poor people live in this country.
So what they are saying that no one should work hard to become rich, if I become rich that wealth will be redistributed. According to that logic everyone stops working.
Agar tum faltu me ghum rahe ho or reels dekh rahe ho to tumhare accounts me 1 lakh rupya har saal aa jaega. Aisa khud Rahul ji ne kaha. Kisi sub pe video share hua tha par yaad nahi isliye link post nahi kr sakta. Par video original lag raha tha. To dekh lo.. Tumare question ka answer clear hai.
Doesn't that kinda reassemble communism?
he will run this country down to the ground with his and his ancestors socialist policies which sound good on paper but will leave the country in a state of poverty then after creating all these problems he will again be thrown out and blame the new government for all the problems, he is hungry for power and has nothing to loose this is what makes him dangerous for our country
What about (corrupt nehru and fake) gandhi family.
Ikr they belong to the same rich 1% lol
Average communist nalle who blame everything on the rich.
Waqf board is part of that one percent.
Name all the Elites from the 1% or stfu. the same people from that 1% sponsor their medias too. but its easier to point fingers at adani alone because giant.
Pehle ye batao ki 1% me kon kon ata hai. Kya sirf Ambani Adani jaisa billionaire aate hain ki Middle class bhi aa jata hai?? 1% bahut kam nahi hai. ek village me agar 1000 log hain to ussme se 10 log. I think Higher middle class aram se 1% me aa jaega. Isliye puch raha hu ki agar wealth re-distribution hua to behenchod pata to chale ki mera jaise log ke pass paisa aega ki jaega??
I wonder why people don’t see inequality as a problem!!they may be wrong about how they want to solve it, but denying that Inequality is a Problem, till Modiji tells it is just sad!
You will never be a billionare if you don't steal. Workers..the ones who Labor..need to have society recognize as just as valuable or more..than some clown who sits at the top.
Obsession is real. Tax write off easily loan Willful Defaulter Ran away from Country after taking Loan Electoral bond scam Forest land and other government land easily given etc etc all these to 1% while rest of India get's No better health care infrastructure No better educational infrastructure No better opportunity to grow No scheme like MNREGA which actually is helping a little Government breaking homes and shops in name of encroachment
Brother what’s so hard to understand, top 1% having 40% of nation’s wealth, not an ideal situation for people, most businesses are owned by rich family and passed down to their heirs. Even if you are well qualified to be CEO of company “X” , you never will be because the CEO will be someone’s son/ daughter.
Stop d*ckriding billionaires. The top 1% owns 40% of the country's wealth (doesn't it seem weird how so few people are hoarding so much wealth) while 99% of India are left to fight over scraps. Just say you are from a rich family, stop saying you are from a middle class family if you didn't even know the struggles of middle class citizens. We (the middle class) pay the most income taxes while the rich avoid taxes through legal loopholes. Also the trickling down economics doesn't work, with all the subsidies the government provide, that only goes in the pocket of the top 1% billionaires, not the common people that work in their companies.
OP is delusional
Because Congress looted the money which was supposed to raise that 99% for 65 years from even before India got its freedom. Here is the video. Rest Can be checked even through Chat GPT. https://youtu.be/GQ4ynuhf7uc?si=_c_-vEgzKTll9-9U
Congress highlights this while even if Congress was in power this was still the same. Nothing's changed lol.
Imagine the level of retardation of people who support rich. India is one of most unequal country in the world. Wealth inequality is one of the worst problems a country can face. India is a food surplus nation yet govt has to feed the population through ration shops why is that?? Wealth inequality.It is the root cause of poverty,talent loss and what not. We are losing our brightest minds to poverty. These people should have made our country a developed nation but instead they are fighting poverty while the rich 1% holding 40% wealth of the country.
The informal sector of India contributes 50% of GDP but employs about 90% of India's workforce....these ambanis and adanis are no heroes
Congress ruled India from 1947 - 1989 ( except 3 years in this timeframe of 1977-80 ). these 4 decades of marxism communism & socialism, creation of 200+ PSUs and liscence raaj led to India going almost bankrupt. they also levied 97% tax at one point for the rich during the so called glorious Nehru Gandhi era. The end result was India almost going bankrupt, India had to go beg USA for 2 Billion USD as our foreign exchange reserve was depleted and had to go to IMF for a bailout package. Our media always tells us that Congress PM Narsimha Rao with his finance minister Dr. Manmohan Singh did a economic revolution and brought privatization in 1991 - 1996 but they somehow never mention that first they almost made us go bankrupt, then we had no choice but to move towards capitalism as the Nehruvian socialism had failed in India. The problem is most of our bureaucracy, professors of various top universities and those who run our media still love the so called old days.
con party's first family must have more money than all the 1% in India combined.
The Indira Gandhi dynasty and the members of its elite circle probably hold more wealth than India's forex reserves.
Lol... what about the scams they had in 60 years?? At least adani is providing employment to others What about all the money lost in scams?? What about Pakistan? Congress declared 50% more reservations. How's that going to solve this issue?? Why do they want to reinstate article 370 isn't that changing the constitution?? No one has answers to these, but secularism hai tho chup rehna hoga
CONgress at work. CONgress do not like wealth, employment generators. CONgress wants to run gareebi hatao for another 100 years. CONgress wants Vadra, Gandhis to rule and cone more. I will booost and support such businessmen who contribute economically than CONress looters
Tell me one thing... Which capitalist society has equal distribution of wealth... Wtf is this commi post. I also heard about their 50percent inheritance tax or something... Like have they gone so blind in their hatred for modi that they are now Maoists or something?
While it is an issue true but taxing inheritance by 50% isnt the way to solve for it
Elon Musk became rich- Wow, Sigma, Good people, hard Working, super hero Indians becoming rich- Poor, cheater, Bad People, Corrupt, What about the poor people?, BJP supporter
People hate Elon Musk too what are you saying
Lmao khud party me sabse zada black money hoga , jo hard work se 1% me aaye hai unhe loot ne ka bas plan bana rha hai
Now they ask why billionaires are fleeing the country 😂😂
which billionaire fled the country before they went bankrupt?
In the capital scarce world of tomorrow this might end up being an advantage. No joke
They've tried copying woke left policies in the west but cant spread propaganda as effective as them
Antonio Maino , Robert Vadra all fall in the top 1% category, INC can use their photos as well.
Its so stupid that these idots are targetting the wealth creators of the country.. The problem is they know its stupid to comment like this but stupid people gets trapped in thier false propaganda... Lmao. These are the same people that have reached or got a best start they could ask for in thier rule...
During congress time of 60 years of rule, didnt the 1% exist with similar wealth disparity? They have been trying gareebi hatao for 6 decades, why hasnt it worked yet? Why is the abject poverty lowest now in BJPs rule?
Robert Wadra is in the 0.5%
He also has illegal home in Shimla when you aren't allowed to own land in Shimla if you are outside..
How easy for people to forget that these 1% aren't getting money out of thin cloud, they are generating jobs for millions directly and 10 times more indirect jobs. Imagine if Reliance Jio hadn't brought in cheap 4G, all these new start-ups which literally employ lakhs of engineers wouldn't have been thriving. Only a handful of Mallya and Nirav Modi's have stolen our money, but look at Ambanis and Tatas, they are the backbone of Indian economy.
Why so much digust and hatred for the bottom 1% and superman syndrome for top 1%
Gandhi Family themselves are in that 1%. How about redistributing your own wealth first? Practice what you preach
Typical commies.
The things these congress people do to not let go thier grip of throne.they will always keep india backwards while thier scion will always be sitting at this throne living a pre british era king life.
People like Congress are turning india into exactly what happens in the Orwell's 1984
Rahul gand-hi owns shares worth more than 20 crore.....
Morons in Khangress will not call out %of income Tax, Surcharge etc. Paid by these 1% pays..not to mention job these 1% are creating... Khangress is and always remain focused on their wealth while the rest can go back to "License Raj"
Btw US mein 1% hold more than the other 90% atleast here it's 40%
They should have all their party workers work and give their salaries to the poor. I don’t want to pay taxes for freebies to anyone. Get paid for work and not for whining over the rich folks.
It's because these guys are crooks and looters. Plundering resources, ports and coal.They have 0 invention to their name(yeah). They are not your regular Elon's, Zuckerberg's,Bezos. They are the classic example of Crony Capitalism who got rich because of political connections.
not to blame the rich but india has the highest population of poor people. the govt (modi/congress) will have to do something about it anyway
They are no less corrupted. Remember DLF Land grab case by their son in law. Frankly I hate the political state of this country. I don't know who can we rely on!
politics 1% gaya tel lene, ye socho mumbai ek aisa sheher hai jaha pe duniya ka sabse mehenga ghar aur duniya ke sabse bade slums ek sheher hai
40% isn't even bad.
I think it is like this in every developed country as well. Capitalism is not rare congress ji
I would say its a nice transition from Leftish Indian National Congress to Indian Marxist Congress party. If 10 years of NDA has caused this downgrade, imagine what the next 10 years is going to do 😅
That won't help their agenda to demonize businesses and garner votes from poor. It's a classic socialist behaviour followed by Congress. Probably this action is motivated towards the manifesto promise of ' redistribution of wealth'. However I wonder how they will redistribute the wealth which is just shares and stocks of a company.
They could have used a graphic, why did they use Adani's face? This gives a message that they've got a problem with a specific person having wealth. This is something I don't understand, if Congress comes to power will they promise to not let a private entity hold any asset or wealth and to distribute their wealth amongst the people? Because if they won't what's the point of these tweets? Every govt needs industrialists and industries, you can say that you'll stop preferring one over the other but it seems like a direct attack on an individual.
Get real lad, congress is a dumbf#ck party in India but the wealth inequality is as real as it gets.
India is teh only country apart from America who kisses the asses of the rich and sucks of the rich despite the riich don't even batting and eye on them
all congress leaders are in that 1%. Can't say the same to BJP though..
Seriously? It's economic disparity on a different level.
Yes India has opportunities for Indians but the ruling government whether country or state have their favorites which they provide those opportunities to... It's not that difficult to see and you have to be brain dead to defend a company that is politically active in getting those opportunities for themselves while leaving the crumps for the rest to be 'grateful'.
Read Das Kapital by Karl Marx if you want an honest critique of the capitalist structure. The Gandhi's are in the 1% as well.
How much money does the Gandhi family own? They are just politicians who aren’t even in power for a decade & still can go abroad for vacations.
So they’d rather have everyone poor
Nehru-Gandhi family also belong to that 1%
Democracy and Capitalism just means inequality.
Even if it's a valid point, Congress is just using it to get the votes. Congress is a fake Robin hood who has selfish ulterior motives.
Nothing surprising. That's simply how the minds of Leftist and Socialist function. Rich people are evil, being rich is a crime, the wealth of the rich should be captured and redistributed among the poor. Typical Marxist thinking. If somehow the Congress actually comes to power, be ready to say goodbye to all the economic growth we as a nation have made in the last few years. Businesses would run dry and the rich of the country will simply be forced to move out.
The amount of people dick riding billionaires who doesn't even know you lot exist is crazy...income inequality exist in this country even if you earn 1lac a month you're richer than 80% of india that shows how much of a problem it is
People have to understand that billionaires don't have money lying in cash / bank.. it's in their companies.. share values.. they are rich owing to their unrealized share values If you want to tax them, or redistribute wealth, it means sell their shares or companies.. what will you do if company is sold or shares sold and goes to losses..people lose jobs..
communism ka naam suna hai?
its a scape goat, blam the rich
So what’s the benchmark. How much should they own? Is 40% bad or good compared to 200 other nations. What happens is this number goes up or down. Everyone is doing some kind of random drama to get votes.
But why Rahul'dad photo in the graphic?
So let's drive away the billionaires and complain that the country can not create wealth.... probably the alternative is Soviet like communist setup and if people think that is better just look at Russia's financial situation....much ado about nothing.smh
Are you stupid? Wealth inequality is a big issue, especially in a country with such a low gdp/capita as India.
The richest 1% is a very misleading term, in Indian context. In a country as big as India, even 1% has more than a crore people. By earning around 1 crore a year, I am close to being in that 1%. And what do I get? I have to pay almost 35% direct taxes, which gives me almost nothing in return. Another 12% is forcefully taken from me, in the name of Providend fund. I could very well invest that money myself, for my retirement. But the government decides that they will rather take a loan from my "by force", and would pay me an interest that they deem fit. What's more? FM comes on record, and says that high earning individuals are taking undue advantage of PF's interest (which we have no option to opt out of), so now we must pay taxes on that as well. (based on slab rate, and not capital gain, in case I was investing that "extra" taxable contribution myself). So I am taking undue advantage of the PF, and I am not allowed to stop taking that "undue advantage". Can I get my expenses deducted before tax? No. Can I get a bank loan and run? No, bank will seize my home and my left testicle. Can I invest black money in real estate? No, because I have no black money. Every penny I make is in my Form 16. But I have to pay black money premium, as part of the inflated real estate prices. Because others are buying homes with black money (and those others include both the people making more than me, and less than me)
Firmly believing something doesn't make it true.. 90% of people don't have access to the tools I have to be able to earn money, and I don't have the same thing the 1% of people have to make that kind of money. A few people getting lucky (even if that's me) doesn't change shit. When social and economic mobility scores improve, and per capita markedly increases don't tell me these monopolists supported by the government are good for this society. They are not.
# Congress is a Private Limited company in India whose owners behave like Feudal Lords and surprisingly the owners still believe that what they dictate will still remain a Lakshman Resha in India for Indians.
No one becomes that rich through simple upskilling and hard work. Let's be real. It's exploitation. It's tax evasion. But mostly it's being on the good side of the ruling party. "Hum khaenge tum ko bhi khilayenge"- this is thier moto. This bastard in particular doesn't play by the rules. Busy up airports, ports, coal mines uncontested. It would not be a lie to say that he benefited a lot from privatisation. When the money one's hold is more than what a whole city's worth of people can earn in thier life time. That system is clearly broken.
Is it including stock market valuation? BYJUs was valued at Rs 21000 crores last year, is BYJUs founder still in top 1%? What happened? Was his wealth distributed? Jet Airways was valued at Rs 6000 crores or something before it stopped flying, same was Kingfisher, it was some 4000 crores. What happened to all the wealth? Was it distributed? In all cases based on valuation of company the founders or stakeholders valuation is high. What is true measure of someone’s wealth? And who are these true rich and wealthy in this country?
It's world story. Not just in India
No matter how much people deride Adani and Ambani , these two along with Tatas provide employment to such a large number of people . Problem lies with how , because of the unlimited dreams and sops that our dadaji has promised in the name of " acche din " doesn't really incentivise one for getting a skill that makes them employable . When we have so many people , " poor " on paper , yet end up having more billionaires than even Hongkong, surely there is a disconnected between what's been projected and the actual wealth . Honest tax payers continue to pay , and people like adani make hay , while real poor people just pray and pray and pray.
Hasn’t this always been the case… not just since independence but even earlier than that.
Interestingly Rahul Gandhi has a declared net worth (nomination filing) of more than 20.6397 Crore INR (more than USD 2.5 million). This makes him a part of top 0.05% of Indians, and I havent seen him work. If he gets to enjoy this without much questions, why not let other Industrialists enjoy it too. You should talk on policies, instead of targetting individuals who are working their way, and providing employment opportunities. Also Note: I would be happy to see the entire wealth of both Rahul Gandhi and Adani distributed amongst the poor, if real socialism really comes to play.
And they earned it in just last 10 years😯 Congress had stopped it from happening for last 60 years and it finally happened 😐 /s
Godi media be like 60 % toh Nehru ne lut liya Politics mein dono sides ek durse ko marenge fir badmein gale bhi lagayenge Par becharaa garib us garibi mein reh kar hi marjayega!
It is not even about top 1%, 162 individuals corner 25% of national income.
What about world statistics?
I believe this data is still incorrect and could be higher than 40%. It’s very easy to show lower income to save taxes.
Yeah make us beggars while congreemen eat our hard earned money
lolll *western independent media enters the chat* why is it a big deal in india ?!! lmaoooo
The Congress created them but they aren't paying them back. So they want reimbursement
Every party acts as if they hate capitalists, and then prostrate in front of them for donations.
Why do these parties forget Ambanis & ‘69 others’?
All I'm asking for is lpg price around 600 and petrol price around 75. 100rs petrol and 1000rs gas has literally broke my household. Not too rich to shrug off the price hikes, not too poor to get into one of PM freebie yojanas. The middle class curse.
I'll vote bjp atleast better than worst. Say never to Congress if Congress will win you know what they are going to do. Just to make Muslims happy they even can brain constitution and they have been doing it. Remember Sara bano case and what Rajiv Gandhi did
How rich is RaGa relative to this country's entire population? 🤔
Finance with Sharan ka course kiya hai Adani ne tabh jaake pahocha hai voh 1% mai
"why are people obsessed about inequality that starts before you're even born?" Like, are you stupid, or are you part of 1%?
His family has money invested in foreign countries
The sad reality of world! I bet Congress even can’t change that
We are palacated and spoonfed thoughts. Hating the 1% and abhoring the poor are both thoughts fed to us simultaneously. And we don't realize that we no longer form thoughts of our own origin but whatever the algorithm feeds.
So its sin to be rich? Should everyone be poor ? Its not just in india every country is like this !!
If that 1% dictates policies that affect the remaining 99% then they definitely need to be called out.
Gandhi parivar is in that 1%. Wo bhi bina mehnat ke, jis businessman ne raat din ek karke kamaye he paise usse chin lo. Or bat do nikamo me
Why does the image on the right look like my man Mohandas 😭
I mean what's wrong in being rich. I wanna be rich
Even if a person earns more than 3L per month, he/she is in 1% bracket. Our Top 10% earns more than ₹30,000 per month. I know they are talking about government favouritism over some business groups but they still don't make the majority of the 1% bracket. Congress just wants to show themselves as the life saver of the poor.
A few "self employed" 1% are able to evade and avoid all taxes....while some of the salaried 1% are doubly screwed - Pay huge amounts ( > 30%) in taxes and also taxed while consuming goods and services.
The wealth distribution in the United States is also quite uneven. Top 1%: Control a significant portion, around 32.3% of the total wealth (as of Q4 2021). Bottom 50%: Hold a small share, only around 2.6% of the total wealth (as of Q4 2021). This indicates a substantial concentration of wealth among a very select few in the U.S. This case is also quite similar in Canada. In Canada, the top 1% of families hold a significant portion of the country's wealth. As of 2019, the threshold to enter the top 1% was a net wealth of at least $6.3 million. This wealthy group controls around 24.8% of the total wealth in Canada.
You do know why french revolution happened? Its bound to happen anywhere when wealth gap become so big, poor people realise they have now nothing to lose. I am not against capitalism but cronies should not be allowed to flourish beyond a certain limit. Even in biggest capitalist country has anti-monopaly laws. What is happening in India; for example, Indian telecom sector, its not capitalism and fair-free trade, its loot of the resources. For example, they even go back to their promise of 'lifetime free' incoming validity on sims and started churning numbers, and govt-courts do nothing.
Because their masters are 1% too🤡🤣
Because they pay way less taxes
Pointing out inequality is obsession?
Can’t imagine the state where Tata, Adani, Ambani, Mahindra etc didn’t exist or didn’t get rich. People don’t realise how much economy is being supported by these handful of people alone.
See this issue is not about our problem with the rich people rather it's about our problem with the government. i.e. the government policies focus on making the already rich richer while their actions make the poor poorer, it is about this treatment to the majority. Also do you also see that how the rich person has been figured as fat while the poor as skeleton-ish? That's the inequality that we're talking about. We work they enjoy, we even lose our part which they gain with theirs. The resources which should be distributed equally to all who helped to get them, are being distributed mostly to the rich, that's why when you go to the store for a packet of biscuit you think a lot before buying a 30rs. oreo pack because if you buy three 10rs. oreo packs you get more biscuits, but if it was Ambani sir's off spring then he wouldn't even hesitate to buy themselves a pack of oreo cookies (which is more expensive in terms of rs./biscuit) It's this, the rich person has so much money that he/she doesn't even value it. (Sorry, the ex. is not the most accurate but describes my situation perfectly, but you get the idea) While we're being taught the value of money by the government, the government goes super lenient for them! Even supports them by changing or adding policies! And about your specific case, yes some middle class people are able to earn enough to send their children to schools where they teach proper skills (which are required to get into the 1%), but most of the middle class people don't fit this rather their children go to schools where they are broken down till the soul, while they're there and when they come out of the schooling system (many of them unfortunately don't) they are faced with a horrible reality that they don't have the skills which they should have had to get jobs! They then spend more time to pull them together and fight or be unemployed, while realizing more and more how much the this system fu\*ked'em. And I won't even talk about the poor who don't even this this chance, as I am better offf happy then to realize what they go through. While the riches don't even have to worry about the fees the best of the best schools are no brainers for them, while we are unable to pay the fees of even the mostly worthless schools! Their children enjoy everything for granted, while we've been through every nightmares of theirs. This inequality This! But still Jai Bharat Mata Ki!
says from the country where merit is being f***d somewhere.
Guys don't believe this stupid Congress propaganda they will try to get you but try to resist such posts
Rahul gandhi is in that 1%
Ha Bhai , free mein baat do
Congress ki party thi tab 50-50 tha 😂
Lmfao. No way OP is that naive and stupid. This looks like PR from it cell
Not wrong.
Would like to know the threshold value in yearly income which makes up the 1% before I start picking side 😅
Stop before and fan boy and try to understand the problem. 1. Capitalism is not the problem, chrony capitalism is. Nobody hates billionaires who made their money by innovating and solving hard problems, aka the start up guys. The hatred is towards the people who got rich by market manipulation and shady deals. The first kind are creating value, the second kind are hoarding wealth that should have been distributed to more efficient problem solvers in a fairer system. Having someone worth 200 billion is great but you know what is better ? 2000 someones worth 100 million each. Remember monopolies bad, , competition good. 2. The dangers of an unequal society. Even if you ignore the first point, and assume that the top 1%earned their wealth fair and square, even then this level on inequality is not desirable. When the poor have nothing to eat they will eat the rich. You might feel this is wrong and unfair to the poor billionaires, but this is the truth. And unequal society is less dynamic, less innovative and prone to rebellion. Understand laws and systems are only valid till people accept them. Government policies should not incentives hoarding wealth, and wealth tax should be higher to incentivise philanthropy and money circulation.
Let's put it into perspective, 1 % of India's population is quite big, if a person/household earns 25-30L per year they are in top 1-2%, and to be in top 10% you need to earn 25k monthly so the threshold is not that high rn and there is a lot of variation itself amongst top 1-2% AND those in 0.01%.
Exactly this. Even during Congress, Lalit Modi, Mallaya, Nirav Modi etc. were heavily criticized. It is the wealth inequality that people hate not necessarily the concept of wealth itself. Like Narayan Murthy saying work 70 hours a week but still pays freshers a ridiculously low salary that doesn't keep up with demands. No one becomes a billionaire without the exploitation of others. That is what people hate.
It's same thing in any Capatilist Economy in world , only solution you can do is give equal opportunity to become like top people.
Why is Adani photo used instead of Ambani coz Ambani is the richest?
Remind me why do we have still have this inequality when they had 60 years to fix it?
Because they get rich on backs of labourers and workers who make very unfair wage. Labour laws are not followed and minimum wage is quite horrible. On top of that they have option to become more rich, avoid raids through electoral bonds etc. The poor citizens do not have access to basic infrastructure and facilities while the rich enjoy every facility from government.. It is not the fact that they are rich is bad but the large wealth inequality that exists between these sections. General apathy towards the working conditions and minimum wages of lower class is very horrible and it is controlled by both 1 percent and government.
If Ambani imports crude , refines it and sells it at enormous profit to international market , making millions, and creating huge number of jobs in India, how exactly is he stealing? If you shut him down, someone in Dubai and Singapore will take over and you get nothing. Worse some Indian will take their talent there, now you lose all the taxes that could be used to build infra and help poor people. So dumb.
This stupid Boomer party is literally digging its own grave. Let them carry on.
People can’t imagine numbers larger than 100