Editorial With Sujit Nair | What is Wrong With 'Wealth Distribution'? | Sam Pitroda
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- Опубліковано 31 тра 2024
- In a recent episode of 'Editorial', Mr. Sujit Nair delved into the topic of taxing inherited wealth, prompted by a statement from Sam Pitroda, Chairman of Indian Overseas Congress. Pitroda, in an interview, discussed the rationale behind wealth redistribution, citing the example of inheritance tax in the United States. He characterized it as an intriguing policy that prioritizes the public interest over the super-rich. Pitroda explained that under this law, if someone possesses $100 million in wealth and passes away, only 45% of it can be transferred to their children, with the remaining 55% claimed by the government. He viewed this as a fair measure, emphasizing the notion that individuals who accumulate wealth during their lifetime should contribute a portion of it back to society upon their passing.
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Modi is totally against dynasties but totally in favor of maintaining wealth and power across generations in super-rich families 🤔
Modi don't want to distribute the wealth but give to Adani, Ambani and corporates.
Please create a company like Adani, ambani, tata and mahindra who have given jobs to million youths
Kindly show specific examples of when and how wealth was given to Adani, Ambani and other corporates.
@@ramakumarnambiar7010Get cheap crude from Russia & allow thief Ambani to loot the common citizen. Allow looter Adani to use shell companies to multiply his wealth. You have seen the photo of shameless 56" bowing down to Advani's wife? In that photo the looter's wife not even looking at the shameless 56".
😂😂😂😊
@@ramakumarnambiar7010people are making use of this kind of ignorance only... especially from the educated class, why don't you open your eyes, no wonder you people are called andhbhakth... Pity you
1% corporates captured 70% wealth while 80 crores people need revidi. What a bad concentration of wealth. There must be good distribution to remove poverty
Excellent, Sujit ji. Hazaro selam to clear the topic of inheritance tax. Thank you and good Night.
When Modi ji is confident of getting 400 seats for BJP, why he is so much worried now?
Definitely, the government of India is protecting the super rich people of India.
Why don't you become super rich and give your wealth to the poor??
Billionaires' fortunes increased by almost 10 times over a decade and their total wealth is higher than the entire Union budget of India
By the end of 2023, India's richest citizens owned 40.1% of the country's wealth, the highest since 1961.
it is the Creator who decides the no. of children for a person... so the scriptures say.. look at the no. of fertility centres... and He sees to the wealth as well of each individual..
some die without inheritance of their rich patronage..
@@sandeepkumarreddypadala3389 The top 10% of the Indian population holds 77% of the total national wealth. Normal people only hold 6%. Rahul wants to redistribute wealth to the 90% citizens. This will benefit everyone including you and the collective development of entire nation.
Very good editorial. BJP's strategy will never improve the plight of the poor but will only help the super rich by making them richer.
The poor should be given a chance
1% corporates captured 70% wealth while 80 crores people need revidi. What a bad concentration of wealth. There must be good distribution to remove poverty
@@mrsarkar6933 So sad of our media and modiji. Who don't even know that Inheritance tax only applies to people who inherit more than a certain ceiling limit of wealth, and create fear among people that their money is gonna be snatched. Only super millionaires and billionaires need to worry abt this.
@@lightingwalk , i think public understand it better. They don't believe in modi anymore except andha bhakt. Modi is now established liar
Pappu strategy is to take the tax payer money and hand freebies ...
Where is the black money now..?
Safely in foreign banks.
😂😂😂
Now its with Adani and Ambani😂
@@swift150_67 The bhaiyyas of a certain person.
Excellent points Sujithji... Hope the opposition perculates these thoughts to the poor and middle income
Wow.... Well said Sir.
We need the Government who take care about the people who are having nothing. Many of them are not having other than their lives. 😓
Govt. runs via corruption and donation. Politian's earns money from contracts and govt. stay in power via donations from the rich. Poor people are never in the equation.
The only thing common people need is good education on finance and some opportunities to create individual economy.
But, people in India are happy with getting freebies like free ration, bycycle or laptop.
Dr. B R Ambedkar was right "People in this country are unconscious", and politicians knows that very well.
Why do they don’t have anything think about that 😂😂
Losers are a liability not an asset to pamper 😂
It is a very good idea for making India great! The party which comes into power in 2024 must adopt such innovative idea for the good of the country .
By the end of 2023, India's richest citizens owned 40.1% of the country's wealth, the highest since 1961.
This is just the top 1 % billioners wealth. 😁
It is a scary situation !
God bless you for your analysis . 🙏
All canards spread by the PM himself sabout Congress. Great editorial thank you!
Excellent explanation Thanks
Thanks for explaining the situation so vividly.
Absolutely right you are!
Dr.Manmohan is economist, whereas PM Modi is unbhakht. Period.
That's why Manmohan & his Govt. were rejected by the people.
@@cssuntherrao hahaahaha your luund bhakt nunu logic as usual 😂😂😂😂
@@cssuntherraohahaahaha your luuundbhakt nunu logic as usual😂😂😂😂
Your message needs to be heart by all common people of India, especially the rural people. It is really an urgent message that will protect the common people's livelihood. It will be even better if you could also make a message in Hindi. Proud of you. You deserved lot of appreciations. God bless🙏
❤. Superb explanation. I hope our idiots understand.
1% corporates captured 70% wealth while 80 crores people need revidi. What a bad concentration of wealth. There must be good distribution to remove poverty
After wealth redistribution, we will need 100% revadi. The rich will leave India and the jobless will be begging on the streets.
@@longerodds5077 , why? Can you explain?
@@longerodds5077 , every year 1.5 lakhs rich people leaving Indian passport under modi. Besides Modi's friends and bhagora Nirob modi, Lolit modi, Vijay mallya, mehul Chosky (Mehul bhai 🤣) and many more gujrati chors left India.
@@mrsarkar6933 When corporates are highly taxed, they park their investments in those countries that have less tax rates. Moreover FDIs will stop. Factories and industries will stop functioning because promoters have no incentive/reward for hard work. Jobs will reduce. This will have a snowball effect on the entire economy. The Socialist model of Nehru did exactly this. In 1991 India was bankrupt after 45 years of independence. Never support such policies. Once economy is destroyed, it takes decades to recover
I have never seen any danger greater than modi as PM and BJP as government.
Well said!
Waqf board should distribute it's land to poor Muslims who don't have any land... I am not asking it to give to poor Hindus or Christians... Give them to poor Muslims only
Excellent editorial
Brilliant explanation. But the tragedy is that many won't be able to comprehend.
Very good informative Editorial, thanks to Sujith ji
Eyes opening topic 😮
Very useful editorial for country
Excellent debate sirji...
NaMo became propaganda secretory for Congress. Really the message of Congress manifesto reaches the masses. Thanks NaMo.
Sir from what I read about inheritance tax in USA, it applies to the super rich with a certain level of wealth or income. Again there are exemptions also for families.
also the rich create foundations etc which save them from it...its the rest who suffer
Excellent analysis
You and your team are doing a great job....kudos👏 giving such an imp information with facts and figures is needed at this particular time.
Sujit I love your fire you have in your belly against favouring the rich and leave the middle class n the poor in penury. Great editorial. More power to you Sujit. I hope the powers that be are squirming when they hear you
The trouble arises when Tax Laws are like bull dozers. Even salaried employees pay a hefty 30% Tax on “ personal Income..”, even on their Pension. Recently, the huge windfall gains made by “ Political Parties…”, by way of Electoral Bonds was exposed via RTI/HSC Landmark Judgement. Have these Parties paid any Income Tax on it ? Time to analyse.
You are absolutely right sir
Very well explained
Eye opener 👌🏽 not every common man can understand this strategy, and that's why rich are looting poor....😢 Please make this video in vernacular langauge s especially Hindi.... it must reach the common people...🎉
Inheritance tax does not apply to all people. Only if you inherit very high amount of wealth, inheritance tax will be applied. Even in the US, inheritance is taxed if wealth of more than $23 million is inherited. similarly in India, if wealth of >10 crore is inherited, then 10% tax must be levied. if someone is inheriting >1000 crore rupees then 30% must be taxed. It is fair proposition in a democracy. inheritance tax will also have slabs like income tax, only that the tax slabs will be higher. almost up to 10 crore inheritance will not be taxed.
BJP feel WEALTH IS for WEALTHY, not for COMMON Indians....😡😡😡😡😡
Great editorial 🙏🏽🙏🏽🙏🏽🙏🏽❤
Beautiful presentation
The main source of rich is equities in holdings of companies and land banks. They actually dont have that much of cash in hand. They have loans against equities and assets
All the rich dont remain rich for generations.
A man is rich is because of his thinking ,wisdom, skill etc
According to Nair cash in hand shud be given to poor, this will only increase business of liquor shops.
Such Redistribution has never happened peacefully - This is a Capitalist society with Risk Reward ratio
@@siddhartha5875doesn't matter as the artist is one of the millionaires in the world. Money doesn't have colour.
So how does America or other developed countries have it where it's more capitalist than India.. in India it has become chroni capitalism.
China has achieved it ans still going well. Yes with iron hands. But vinobha Gandhi, Nehru, Patel, Sastry all tried it in peace full manner. When Tata gives 65 percent of his wealth why not others. Azhim Premji,Birla Tata are examples. Adani,Ambani are desh dhrogis. What the he'll adani knows about media? Why should he buy media and control news? People must introspect. Emergency exposed only due to censorship. All news spread. You can't shut up all mouths.
A people who are reluctant towards philanthropy should have laws over them. If we can go for demonetization then why not go once for capital redistribution.
Thanks for the interesting editorial today 🙏🙏🙏
Sir, In INC manifesto, there is no word like, re distribution of wealth. It mention as distribution of wealth
Sujit sir, you nailed it🎉
Wow What a superstar Talk. Total Respect for you Sir.
Wonderful and eye opening clarification.
Nicely said Sir
A superb analysis by your Surjit sir❤
Good explanation hope Antha bakths understand it.
Good analysis for the common man. See for yourself and decide
Very True
Well said
Plz remember one thing. People are not interested in high quality talk and instructions. According to their abilities to understand they only want who can save them of the rising Prices. Not Modi of course but any other Party which will.rescue them. Too many lies. Religion CANNOT reduce the prices.
You are right bro
This short of videos should spread intensively 9:18 . This is the fact for the 90% people of India in this regime. This must end.
Perfect
Good evening
Unbiased 💯.
The top 10% of the Indian population holds 77% of the total national wealth.
Sir, hypothetically if you think that Congress alliance wins the election, do you think that they will bring inheritance tax, and not favor the rich? Be it any party, their preferences will always be the rich.
I agree, no government will dare to offend the super rich.
The point is not IF there would be inheritance tax or not... here a more fundamental flaw of arguments has been presented by bjp/modi ji directly to favor the rich exclusively.
Super rich people have several options, they can easily get out,it’s the middle class and the upper middle class that will suffer the most..
Sam pitroda has also did not say it.He just said that in some states in USA there is inheritance tax for redistribution of wealth as one of the ways.
During COVID they reduced corporate tax but not ordinary people
Food for wealth, Education for wealth, Health for the wealth, shelter for the wealth, Head of Department of Economics , INDIA .
If they implement the law in a way that upto 1cr there won't be any inheritance tax, 75% of the population would be exempted. On the other hand Adani + Ambani have $500bn. Even a 5% tax would give 25bn to the government. That would be around 20 lakh crore.With this money, Modi can give 15 lakhs to every Indian
If you implement this, all Ambanis & Adani will park their wealth outside India & you’ll not get a dime. Freaking dolts you people are
Zabardast episode
It is equitable distribution of wealth ??
When there is no equality of talent, effort, zeal and hardwork; why should there be equality in incomes? Making money through hardwork and legal means is not a crime sir!
Plzzz translate yr video ❤in other languages so the whole of India knows this ❤
Inheritance tax can have no place in India. Our society is family oriented, not individual oriented. In the West we see millionaires and billionaires giving away the bulk of their wealth to charity. In India, the bulk of a person's wealth goes to his / her children. My grandfather's house is sacred to me, and no government can take it away from me. I will lay down my life to protect it.
According to recods Pandit Jawaharlal Nehru donated nearly RS 198 crores to the exchequer of govt of India in 1946. Big mansion called Ananda Bhavan owned by Motilal Nehru gave to congress party in 1929. Motilal Nehru was a lot of money from his legal profession and Jawaharlal nehru was earning lot of royalty from the sale of his famous books . They hv donated all to the country. These are all from reliable records and from annals of history.
Even EMS Nambooripadu, AK Gopalan etc donated all their wealth to the Communist Party in the 50s. I will not same about the present day CPM Leaders like kerala CM Pinarayi Vijayan and a host of others who are there to increase their wealth so that 3 or 4 generations of their family can lead a super luxury life, all from corruption. Even Bill gates donated 99% of his wealth to Melinda and Bill Gates foundation working for the downtrodden in Africa, Asia and other parts of the world.
Very good analysis
According to VIT founder 1% owns 58 % wealth and pays just 6%tax(GST) whereas bottom 50 % owns 6% wealth but pays huge 74% tax. Inequality is abysmal and unimaginable in india not anywhere. We need inclusive growth and development not growth and development of few corporates or Crony capitalists at the cost of poor and middle class.
When you pay tax or wealth tax that is also a kind of distribution. Does FEKOO has the scope to scrap it also?
Demonitization, polarizing nation on religion, GST, are they fair games?
Super way to put it people have to be educated on this subject as you have just explained other ways they will only believe it the other way
I really dont care about rich and poor, if somebody earned wealth they probably did something for it, hardwork, risk, luck, networking, or whatever, why should they not protect that wealth and how is it morally right to say someone else does not have it because they did not do anything in life so give ur wealth to them ? That does not seem fair, not fair at all.
This inheritance tax takes away the incentive for advancing business and entrepreneurship..
Redistribution of wealth is the most wanted step for the country. Let the Congress do it regardless the biased analyses.
Entire politics subject में MA करने से ऐसे सोच आते है। that statement is eye opener 5 kilos ration पर गरीब वोट के लिए ही zinda रहेगा
This statement by the BJP is to scare even the middle class, but should also add that the inheritance tax in US only applies to the super rich, kicks in only above ₹100 Cr of wealth.
What is good about note bandi?
Rich especially the gujuratis got to make the rules to loot the poor.
Nothing
So it's all about wealth distribution / inheritance tax. 🤔
Is this the key which is making some countries Devoloped, and keeping some countries under Devolped ! 🤔🧐🙏
This got me thinking. Thanks to this discussion Modi started. 🤔
I had a talk with an andh bath who is a senior manager in an IT company.His reasoning was if there is money with the poor people then., who will come to clean my house , driver etc.I told him nobody is born rich( including myself ).Unless proper support is there, nobody can come up.I don't expect a driver's son to be a driver.The next generation should come up with proper education.He called me an urban naxalite.Sad state of affairs..
Bro...this is the sad reality. I also had similar comments from educated , people having high paying jobs. They are worried only about 'their' comfort. And these people call themselves patriots. How can one be a patriot if he/she don't love their bros and sis from underprivileged
👏👏👏👏👏
Great sir The free ration is also not sufficient for those poor family
Inheritance tax is not doubt worth debating and your explanation is good.
But there is a time for everything and this was not the right time for that leader to express as was his insensitive comment on 80's tragedy.
We need to have it in our curriculum right from school about "giving" to less fortunate.
Some years back u said "good someone" n I remember someone came knocking.
Where is the 15 lakhs??
It will come with Amritkal in 2047.
Well said sir.
Mr modi wants rich people more rich and poor people more poorest
Bjp main idea is to stay most of the people in the country uneducated. If they have it they would qustioned the govt.
So. Sir
You were saying they have to repay the tax on the income which is already taxed.
Then they would lose their incentive to earn right.
Then everyone will be looking for middle class facilities.
Modishah Rule is very Dangerous for the Democracy and Constitution of India.
South Korea and Japan has inheritance tax
It is clear sir that you do not know ABC of economics:
1. Super Rich are Super Rich because they own businesses. And businesses are considered as a seperate legal entity. An institution public or private has its own identity and its own funds. The founder/ inheritors control the decisions through their shareholding. That will be the majority of their wealth and it cannot be re-distributed. You think if this law comes to force and Mukesh Ambani dies, everybody will get a reliance share :)
2. What about politicians. I come from TamilNadu. I know politicians here are super rich. Election affidavit says M.K.Stalin does not even own a car and they have accepted this. Where is the X-Ray here? How come they are not able to track his wealth?
3. Finally those who will suffer will be the ones who are made accountable for every penny they earn. The middle class
4. Why should anybody get more than 5 things. Food, electricity, clothes, home and education. If these five are available to a person everything else is an aspiration which they should earn not get
5. Only a govt incapable of wealth generation will try to get by wealth transfer
Even grand son of infosys inherits....he is hardly four months
And if Sam pitroda was right … why did the congress distance themselves from his comments saying “ those are his personal views “
All the BLACK money is with Corporate companies
Shame on out media's who are protecting super rich to protect Modi.
Dear sir
If inheritance tax is put on Ambani , Adani and business class ppl
They may leave this country if they live this country think about the unemployment rate now only it is bad . Already common ppl are fed up with taxes this will hit the middle class hard .
You tell by giving free ratio modi is keeping the lower class quite by leaving them to invest
If they don't give ratio you create other narrative
Your congress manifesto has said they will 1,00,000 to women's per year there about 100 crore voters in this country let's assume 50 crore voters apply for this scheme 50cr X 1lakh just think the economic imbalance......
Sujit Nair ji it seems you all people have to close your all the channels and take rest.Yes it may come in two months. Hope it not but circumstances are do Or die. ❤
Its called estate tax in usa and kicks in if the value of estate is above 13.61 million dollars . It can be upto 40% . Inheritance tax is also levied in a few states , the difference is the person who inherits pays this tax while estate tax is paid by the dead person ( their estate )
So whether the dead person has one or 100 heirs , they pay the same amount of estate tax. The inheritance tax obviously will only apply to those heirs that live in states that tax the inheritance and will depend on the heirs incomes wealth etc .