Top 1% will be affected by wealth redistribution: R Ramakumar intv
Вставка
- Опубліковано 29 кві 2024
- #LokSabhaElections2024 | You choose who forms the government. You also choose who you trust to help you make an informed decision. Help us empower you.
Pick a project you want and power @newslaundry and @thenewsminute's election coverage.
www.newslaundry.com/2024-elec...
Support our work. Become a TNM Member: www.thenewsminute.com/subscri...
In the campaign for Lok Sabha elections, wealth distribution and inheritance tax have become contentious issues, with PM Modi and the BJP warning of wealth confiscation under a Congress-led government. But these could result in equitable resource allocation and levies on inherited assets, which wouldn't universally burden citizens with high payments to the government. India previously had wealth and death taxes from 1951 to 1986, aimed at curbing wealth concentration. In this interview to TNM’s Pooja Prasanna, Prof R Ramakurar who is an economist says fear-mongering by the BJP has hindered nuanced discussions. It's vital to assess these measures objectively, considering their capacity to address socioeconomic disparities, he adds.
Mr Ramkumar you spoke so well so correctly and rationally.
Such clarity in the information. Thank you.
Well explained. Apprehensions are so undue. 🎉Great idea to redistribute wealth to the benifit of all, particularly the poor and the middle class people. Great multiplier too. Aggregate effects on health, education, jobs, housing and so on will have a positive bearing. I have viewed your video on fiscal federalism sometime back. That, too, has well covered the nuances of fiscal distribution between the Union and the States. Fiscal federalism should form a chapter in higher secondary school curriculum all across the country in order to develop some idea of the political economy of the country and settle many competing lies of the politicians and in the process the voters will be able to make well informed choice before taking any position.
R Ramakumar was excellent. Hats-off
Thank you both for a enlightening discussion on the subject. Excellent, to say the least.
Such a wonderful analysis I could not resist but sending some money to the NewsLaundry/Minutes. Do the needful to make it viral .
Thank god i did not pay
Very informative! Fab job!
Great discussion and an erudite explanation by Prof. Ramakumar.
Thank you
Very informative episode, thanks for uploading.
India should also have this financial reforms
There is a saying in the south that a train can run on full speed in the Gowda's property for 15minutes. Better to redistribute it across the poor.
Such clarity. Enjoyed the conversation
How much will modi have to pay? Kejriwal said that adani is running modi's business
Awesome interview!
Can we have equal number of kids for all Indians.. ?more kids also makes inequal distribution of wealth. So, with the congress agenda if a person dies the wealth of that person will go to congress government .. this is a very big issue.
Also i see the school fee in the government schools and hospitals are less .. we need to bring down the school fees and hospital charges of private sector to government rates.
Awesome study, Jai Hind❤
Very informative and unbiased
The current Pm was against gst, but when he came to power, implemented a faulty gst which made small business to collapse and inflated prices of every thing
Thanks
In India the super rich pay taxes to the political parties through electoral bonds. Why would they agree to pay inheritance tax?
If all taxes collected since independence were used for intended purposes like poverty alleviation and national development ,instead of being siphined off by corrupt politicians and bureaucrats then all indians would be rich and india a very prosperous atate
Informative
Mangal Sutras were lost after "Demonetization" ????
How man of Indian citizens inherit even ONE Crore worth inheritance?
Simple people are simply misled for the sake of gaining votes.
Perhaps the fear is that Adani, Ambani, and the like may have to pay the inheritance tax, even if it is implemented.
Both are products of Congress party. 😅
And with government assets and companies being sold off to private individuals and parties, the inequality between the rich, middle class and poor will only become greater.
Good replies❤
If only top 1% are to pay, why did Rahul Gandhi not mention it? He wants to X-ray “everyone” so what’s the 1% or 10% ppl required
Every capable one needs to/should contribute to the society.
We appreciate if this was true ; Unfortunately the policy makers of Congress psrty are themselves most corrupt Politicians ... it's very less likely for f this can happen practically.. and this could also lead to leakage of Indian wealth to other nations which will loss for India itself 😢
A simple question, how much will Ambani's and adhanis inheritance will be taxed
These journalist are the only hope for India
These journalist are only hope for leftists, who ,have almost disappeared, except Kerala.😅
Inheritance Tax must be in place in India, more so when we have huge inequalities. 🎉
You will not get anything. Even if they pay your life will not change. Income tax slaab has increased, capital gains tax increased but still india has to feed 80cr people. And that number will increase to 90 crore. No rich has enough money to cater to all poor in india.
@@DemonSlayer-vh8uy well said in addition to it the wealth accumulation will continue to the same persons and asking them to pay up in the name of inheritance tax will make them leave the country also too many useless freebies will lower productivity of the country instead they should focus on developing sme and msme by favouring them over the corporates there by redistributing the income. unless they redistribute the income by promoting small scale industries it will ruin our country
In reading, in writing, in speaking. It feels good But practical implementation not possible. At one time there was 95% tax slab in our country but that was not worked.
Do you think the govt will get those taxes to the poor, no way they will fill their pockets and the poor will remain poor
@@praveenpayiran correct
Social or welfare states are failing to add value as we see it. Europe is heading this direction.
When the son of a politician becomes a politician, it creates a problem. We say that power should not be transferred as it is not ethical. The same logic should apply to wealth. A son should earn it. There is nothing wrong with paying tax to inherit wealth he has not earned.
Do çorrupt politicians and bureaucrats fall in the one percent or as usual they escape
You tubers, movie stars are earning so much.. we need to make their income to the government rates... Infact private sector should be abolished and bring government sector in movie and youtiube as well..
What about the ELECTORAL CANDIDATES , who have DECLARED more than 100 crores in ASSETS. AND IN 1ST PLACE, HOW WAS SO MUCH ASSESTS AQUIRED BY THEM
Will it include rich farmers also
Even in the so called foreign countries that he talks about there is still huge inequality in wealth. Your inheritance tax is a sham. It serves no purpose.
An inheritance tax that taxed the richest 1% of people should be welcomed by 99% of Indians.
Of course the top 1% won't be pleased.
However Politicians misrepresenting, distorting, and openly lying about Inheritance tax is despicable, especially when these Politicians may not be educated enough to understand the idea of this tax.
If BJP returns all new taxes will appear with cumpalsary use of helmets to LCV & HTV drivers and an fine of 10,000/- for violation.
Vey well explained on the Inheritance tax topic. Thanks
it was absolute garbage. were u even listening?
Government collect taxes but no one knows, in which black whole that amount goes when we see lots of bharat debt. Even after independence, banks and land taken by government which leads no industrialist developing in India , this suggests that instead of inheritance tax, ask to establish industries or business establishments which can provide jobs, but governments gives haircuts to industrialists, all claims paradox. Anyhow in every rich and poor still exists, these narratives only helping again to fraudsters more than real needy which reflected by amount of money used to get elected. Then corrupt politicians and government agencies staff are more benefited than any redistribution. Even in foreign countries all states don't have same percentage of inheritance tax,. All narratives helps few than reality.
exactly my point. it is a narrative of a party. if news minute is bringing us a clip for justification of this, then bring a justification for constitution change also, because neither bjp nor congress have written these nonsense things(and i mean both parties) in their manifesto but will do it anyway. be selfish and vote for your own needs first. there is no wrong in that.
Some thoughts :
- If the political parties are starting to think about wealth and inheritance taxes, then the super-rich are also already starting to think about how to avoid them.
- Regardless of the limit set, it should never happen that someone / family is put out on the road just to pay these taxes.
- Just a question - for who does one work, if not to give their children a better life than they had?
they will leave the country there will be a mass exodus instead they should focus on redistributing the income by pushing sme and msme industries instead of pushing corporates. if inheritance is introduced the money will be looted by the corrupt politicians and will be given as freebies reducing the productivity further. it works in US and europe because of their population and the amount and type of freebies is nothing like in india
Huge imbalance in wealth distribution in india, more worse than British era. Corporates are sucking public blood. Gujrati corporates like Lolit modi, Mehul Chosky, nirob modi etc are fleeing with thousands of crores rupees.. every year 1 lakh 50 thousand Indian millionaire leaving Indian passport and settling down to aboroad after looting Indian money. There must be a uniform distribution of wealth. How long 80 crores people will live in 5 kg revidi?
For 70 years, each indian had equal amount of money. Exactly in may 2014, inequality became highest... 😂😂😂
@@Aham.Bramhasmi , 70 years 😂? That means unpadh andha bhakt. BJP ruled 10 years before and NDA govt also was before. Congress had only 55 years. During that time, Congress established govt PSU IIT ISRO DRDO AIIMS BARC BHEL IIM IISER NISER NIT etc to bring equality, right to education, right to food, right to information etc. Per capita income was better compared to neighbouring countries. Today, Indian per capita income less than Bangladesh
@@mrsarkar6933 congress had to do it, kuch ehsaan nahi kiya.. shayad congress na hoti, toh IIT ki haalat aur achi hoti.. devil is in the details.. read post independence history of India. The goofups by nehru, the wrong decisions of Indira, the blatant misuse of power by rajiv, the meaningless elevation of sonia and the degradation of political system that followed her ascension to prominence.. nehru, indira, rajiv, sonia ke baad bhi, aaj rahul bolta hai " gareebi hataayenge". Aaj tak gareeb hai, issme congress ka sabse bada haath hai.. no congress for the next 75 years.
@@mrsarkar6933 IIT ISRO AIIMS lol BHU Calcutta University,Mayo College lady hardinge hospital all were from British era and alumni got Nobel prizes .
Modi build more IIT then nehru even more than nehru indra combine you fool .
Go google PL-40 variant ,which US used to give as Charity to india of Nehru-Gandhi ,so people like you can use Adhar Backed Sim card and UPI
Stay poor bi©h
first squash all the exemptions on incometax to make all the business man to pay genuinely the income tax rather than taking all the advantages to reduce drastically the tax and enjoy all the benefits on the cost of salaried people who pay Tax at source, then let us see about inheritance tax.
Beautiful explanation on wealth redistribution and the future govt must boldly think about this. 👍
This anchors name?
Pooja Prasanna
I think he is not in the 1%
Most of the wealth of Sonia already deposited.
All the political leaders wealth invested in foreighn land. Tell me your assets of your family Deposit first and stand example for others.
Very useful information. Thank you news Laundry. Such Modi sr like ignorant dishonest elements should be thrown out of politics
Congress removed inheritance tax when rajeev gandhi inherited indiira gandhis properties!!!!
Huge imbalance in wealth distribution in india, more worse than British era. Corporates are sucking public blood. Gujrati corporates like Lolit modi, Mehul Chosky, nirob modi etc are fleeing with thousands of crores rupees.. every year 1 lakh 50 thousand Indian millionaire leaving Indian passport and settling down to aboroad after looting Indian money. There must be a uniform distribution of wealth. How long 80 crores people will live in 5 kg revidi?
@@mrsarkar6933 lalit modi ,mehul chowksjki all are result of Congress and it's encouragement of scams they looted money because of the help they got from authorities not from inheritance!!!!....ther is not even a uniform destribution of wealth of all around the world how will you achieve that in india???.....people who work hard will always get rich !!!!!......and lazy people keep crying!!!!......NO FREEBIES for anyone!!!!
Economic inequality will always be there regardless of inheritance tax or other methods. It will surely help reduce the extreme inequality. The big issue is assets outside india. The law will ensure ultra rich will move money out of india to reduce the tax burden. There are trusts people form to reduce the tax burden. So implementation will be a big issue too.
why implement in the first place? and for that to happen congress has to win...which will not happen.
Absolutely brilliant. Thanks
Citizens get scared when hear word "Redistribution".
Proceeds of growth scared
Thanks! Very well explained.
Broadly speaking, redistribution is not a bad word… almost all economic policies have elements to promote growth while also taking care of managing inequality.
All are false claims of Modi & Co.
True inheritance tax is a must for the ultra rich or else there family will itself keep on growing rich as time passes by
What about middle class??? They will charge us tax on our inheritance too!!!.....the rich can pay taxes but from wer a middle class person will pay ???
if they are working hard and earning money why are you so bitter? middle class should and will pay inheritance tax also. Being bitter towards the rich will not make you happy.
@@vader_117 middle class is taken for granted. which is why-keep it simple. dont vote for congress.
@@vader_117 no this tax would only be levied on people having welath In billions it's to regulate the wealth gap as ages pass by if a family tree keeps building wealth up on wealth in billions it would ensure extreme unequally right that's why this tax should be implemented
@@firosiam7786 they always say that at first and then next year it is the middle class who is paying as well. did you really believe the fairy tale that only rich will be taxed and not the poor? rich dont have that many houses as well. where is the real money that congress wants? it is us, the middle class. if you want to put inheritance tax on us then might as well remove reservations from jobs and colleges. that seems fair right? we loose money and get equality of opportunity in return. but no they will not do that also.
BJP hatao Desh bachao....... murdabad murdabad 🖤.....
What about inequality in education? By this logic, reservatioj system should be finished.
The current reservation is to counter act the 1000 years old reservation called caste system.
@@rajarathnamprasannavinayag3204 then don't cry about jobs. Take reservation and stay happy, while general category students work hard and take the best jobs.
So you work hard, earn good amount of money in your lifetime but you cannot give to your legal heir? If your argument is that you cannot dictate where your money goes after you die, then why should someone pay income tax when he is alive? When you are living, you give away 30% of hard earned income as income tax and when you are dead you again have to give 40% of remaining income as inheritance tax? Essentially you are saying you cannot have your Father's wealth uf you are rich but you can own someone else's father's wealth if you are poor? If you want to have inheritance tax, then remove income tax.
Ambani family
Why you are defining the term? Congress can go so low & as you…
Shameless dirtiest looooose talk. Pappu dialogue is a very dangerous.
If you want fund join Chinese toolkit
Dundeehead anchor and dunderhead economist defending pol pot and mao ideas.
Gadhe..kuch tho sharm kr..
These journalist look in only left direction, know nothing what is happening on other side.very funny. 😊
I used to take food almost twice a day n hardly takes food outside. Now my own wealth earned is around Rs. 12 cr. Contrary, my friend used to spend lavishly as if his parents were wealthy, but actually a daily wage workers which I came to know end of 4th yr education. He used to be lazy n did not work hard to earn after engg grad. So he is poor. Now tell me how I can share my hard earned wealth with him. Last my parents were also poor. This man goes to Ambani family. Dirubhai ambani was poor when born, but he reinvested all his earnings repeatedly with very high risk where one slip could have wiped out all his wealth. But we as common people we never take risk n invest in safe savings accounts. So snatching wealth is like stealing from others. Work hard, take high risk with honesty to build wealth. Don’t steal like what these two thief’s r saying.
Isn’t our economy better because of UPI transactions? We don’t have to go after private individuals.
Development can take
First of all no man should pay a tax on his death. Taxing a father for leaving his child a legacy is basically immoral in principle regardless of the amount. Why should we imitate foreign countries? The top one percent will find loopholes to not pay. This tax will hardly make any change to the plight of the poor. It also kills any incentive for people to leave a legacy for their children. Many parents will transfer wealth in their own lifetime but then children can treat them badly so they will have to take that risk. You will be leaving most parents without any protection from their own children. In any case the children will pay taxes on the money or business they inherit from their parents in income tax. An inheritance tax is basically a tax on the dead and a double tax on the grieving family. It’s an evil tax proposed by politicians who want to usurp wealth of the citizens. It also encourages people to horde black money so congratulations on further destroying your country.
The koosumunite trying hard to sell "inheritance tax" ....
Wah Congi andh bhakt media🤣👏
Hahaha 😂 biased media propaganda
Crossing the limit of 404 is important in this election.
It could easily slip away if everyone thinks it's easy this time.
The fact is Modi/BJP Need YOUR help !
Please don't slacken now. Be alert and awake.
For childrens’ sake, please " Lead by example"
Take your friends with you to vote.
And, tell your Facebook friends to do the same.
🚩🚩🚩 Jai Shri Ram 🙏🙏🙏
You are a mental case man requiring head repair immediately by a veterinary Dr only...... BJP hatao Desh bachao 🎉🎉🎉🎉🎉
@@ravikumarbs7298 Thanks for the B.S Ravi
@@ravikumarbs7298 Thank you for your B.S Ravikumar !
@@ravikumarbs7298 You got serious problems you don't even know you have ! Under four foot tall married to a female wrestler ?????
Brilliant
I wish tnm will make video about polygamy and having 4 children per wife when your nerworth is that of 4 potatoes.