‘Top 1 percent will be affected by wealth redistribution’: Economist and prof R Ramakumar
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- Опубликовано: 30 апр 2024
- #loksabhaelection2024 #inheritancetax
Wealth distribution and inheritance tax have become the talking points in the ongoing Lok Sabha election. Following statements made by Congress leaders Rahul Gandhi and Sam Pitroda, Prime Minister Narendra Modi and the BJP have warned of “wealth confiscation” by the Congress if it comes to power in the Centre.
India previously had wealth and death taxes from 1951 to 1986, aimed at curbing wealth concentration. Many argue that such taxes result in equitable resource allocation and ease the overall burden on citizens due to tax high payments to the government.
In this interview, The New Minute’s Pooja Prasanna speaks to economist and professor R Ramakumar on wealth redistribution and inheritance tax. He says “fear-mongering” by the BJP has hindered nuanced discussions and that it’s vital to assess these measures objectively, considering their capacity to address socioeconomic disparities.
Watch.
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You have to understand companies can flee, hni individuals will relocate. In all other countries starting a business or getting healthcare is easy. This can be a disaster for India. We cannot print Rupee we need investors/manufacturing places. Problem is inflation and modi is the root of inflation by creating vanity projects to massage his Gujarati friends
*Let's Charity begins at Home!! Rahul Gandhi has Property of >20cr and 6cr Income over last 5 years. Daughter of Lalu yadav has Property of ~16Cr. Just these 2 people has Total Worth of >40Crores!!* 😵💫... So Let's Distribute 55% of that First to Set an Example for Others! ☺️
The entire premise of economics is based on the fact that resources are limited. Now when few have the ownership of the majority of resource, and they continue to hold it, there's very limited possibility for others to thrive. Inheritance tax would be a progressive step that would certainly enable a more equitable distribution of wealth/resource across the population. Remember that the names you mentioned would also have to abide by it if in case it is implemented.
If the inheritance tax is implemented, first point top 1% will be paying the tax and distributing it among the general population. Second point if it is applied, Rahul Gandhi will also have to pay as per the policy guidelines.
@@ankitchoudhary197 Let's say... i invested my 2 years in learning Stock investment and After 10 years I have Assets of 100cr. And I'm already paying 30% Tax to Government in all ways possible. *Now explain that Why should I Donate my certain % to you??Who the hell are You Bro?? Why should I give even 1rs to You?? What Help You did to me when I was Struggling hard for 10 years for earning 100cr??*
@@waretrocks Everyone knows that HNIs prefer countries which has Least Taxation rates. Today Govt collect Tax of atleast 30% of total Income from HNIs. And now You want to Put more tax on them so that they all Shift to other countries??? Right??
Plus also answer My Next Q: You used a word "Distribute among General population" ... Why?? Let's say if I earned 100cr of my money, it took me 10 years for that.... *Why should I distribute My 10year White Hard Earned Money to You?? Who the hell are you man?? What Role did you play in my upliftment ??* 😅
@@dr.s.square1491 I don't know that much about economics, but the example you gave and the concept here we are talking about, completely sound different lol
He gave the samsung example but didnt told how much disaster it was. The company control is on brink of lost.Because of their share dilluiton share price is tanking
that wouldn't have happened if they did not insist on giving the company to the next generation in the family and if the children didn'tfight among themselves for inheritance...they could have goven management to an outsider...someone with experience in management and all qualifications...but no they want to give the company to the children..SK suffers a lot from these Chabol families...a few families control the economy of the country...they control politics too...do you think ambani, adami, tata etc should stay in their families...that child will inherit the companu then his child will inherit and so it will go...i believe those companies should not just stay in their families generation after generation....and if they want it that badly then they gotta pay the price
In my opinion india should get rid of dividend taxes too.
When only 1% of the people are rich, they must have earned by their sweat & hard work and intelligence or by way of inheritance, then why to rob them? Is this is allowed by any of our Dharmas? Everybody has to earn and be satisfied with what he gets which is taught by all Dharmas and not to rob any body. Anything given free will not carry value and make the receiver lazy in due course.
Modi don't want inheritance tax because of his dear adani and ambani, otherwise no reason to opposed,
Nearly more than 80% don't have that much wealth to fall in a category of super rich person.
80%? dude 95-98% don't have that much wealth.
I say put this TAX ASAP
why are hni indians fleeing from country ?
why flipkart registered itself in singapore ?
finally the justification video is out👏👏👏👏🎉
ab koi nahi rokh sakta Rahul baba ko.
This time,he would become both the prime minister and president at the same time, by getting 542 seats out of 543.🫠
1% of 140 crore is 1.4 crore. Mainly people living in mumbai,delhi,chennai and bengaluru will have to pay tax.
Farming income shud b taxes.
Wealth redistribution is itself is very bad idea. People never learn from Venezuela, Soveits, they are still thinking this idea as a great idea.
So, let the rest of the humans like you suffer when the rich enjoy everything.
tell me is US as SOviet, then why they have it.
there wealth will not be affected
because they have large amount of money in swizz bank
proof is panama paper and yearly data released by swizz bank
the money from indians in swizz bank is 14 Times higher
according to annual data released by swizz bank in 2021
🤣🤣
there wealth will not be affected
because they have large amount of money in swizz bank
proof is panama paper and yearly data released by swizz bank
the money from indians in swizz bank is 14 Times higher
according to annual data released by swizz bank in 2021
warren beffet american billionaire donated half his wealth for philanthropy
from america without greed,ego and problem
🤣🤣🤣
it will be on the wealth that is inherited by the children , and is for wealth above a certain limit approx 100cr or so, so that people don't inherit their fathers wealth, and tell me its wrong.
Very informative and insightful interview. Keep doing well. ❤🎉
Excellent, very well explain by #prof.RRamakuma about inheritance tax.
Don't understand why did congress persons even #rahulgandhi did not try to explain this issue in such way.
On contrary to this congress try to stay away from inheritance tax subject.
After watching this video I myself come to conclusion that #IndiaNeedInheritanceTax
It's a super rich tax, and which will be applicable only on those who have inherited wealth of more than 10 or 20 crore
Rahul Gandhi has Property of >20 crore and 6cr Income over last 5 years of failed career. Rohini acharya (daughter of Lalu yadav) has 16Cr Property despite having Failed career.
May be that's the reason that Congress had to Back Off!! 🥲
@@dr.s.square1491 she will be quiet.
Rich people knows how to use law in their favour, middle class people will be become poor by this inheritance tax .
This law is nothing but a organised loot
Good one, thanks 👍
Put this interview in hindi language as well so that larger audience can understand this concept . #support
Inheritance tax is a good idea and there should be an on-ground campaign so that citizens can understand what it means and how it will benefit us. The only people who should be against this and who are swaying the public are the ones who will have to pay this tax, not people like us. What will we inherit? What does it amount to? The maximum number that it can go is to some lakhs. Let's educate ourselves and strive towards improving our system.
Hey man u have to earn it. Didnt u learned about congo coco farms where they took farms from white kicked them out and redistributed them to skillless black .Their whole farm economy got crushed.
Also in high income country it is fine as you can regrow with enormous oppourtunities .But country like india with so much burocracy and no freedom it cant be done . With our leval of corruption the money will just end up in hadn of burocrats, politians and middleman. Big private players will at least do some investing rather than hoarding
The interviewer should have done more research on the topic before the interview so as to ask better questions.
Ultimate agenda:-
1.84 % unemployment
(Secured and stable employment must be provided)
2.Lack of developed production and manufacturing industries.
3.Increase in price of essential commodities.
4.Increase in price of electronic products.
5.Lack of developed Healthcare hubs for all citizens to avail.
7. Lack of developed and pogressive transportation sectors.( lakhs of people suffocate in trains and buses)
8.Lack of good airways.
9. Lack of energy hubs.
10. Lack of proper sanitary system.
11. Increase in social devide.
12. Increase in cultural divide.
13.increase in social discrimination and racial discrimination.
14. Increase in violence among people of society on the basis of ethnicity.
15. Lack of research based pogressive educational system.
16. Lack of research based innovation sectors.
16. Lack of scientifical development in agricultural sectors.
17. Lakhs of farmers to commit suicide.
18.No advancement in cultural sectors.
19. increase in scams and corruption like coal scam, oil scam, educational scam, electoral scam, IPL scam, real estate scams, corruption in defense sectors, corruption in health sectors etc.
20.Lack of developed socio-economical-cultural-democratical and scientifical awareness among people of society..
Our population and its value system is the probem
@@maxxander3860 why overpopulation? Because of illiteracy..
Dude 84% unemployment, like seriously? where do you get these numbers from. If your numbers are true India would have been another Venezuela by now.
@PriyathamReddy-zl1jd data says worser than that..
How can employment be created if more than 12 lakhs industries are closed, 3550 MNCs are shut down, if there is no structurisation of production and manufacturing hubs.
@@Anway-NeverGiveUp I am not a data expert, but i find these numbers very hard to believe, do you have any source to back it.
Estate tax was abolished in 1985 in India
This was eye opening and mind boggling and earth shattering, this Tax must be introduced ASAP
Hi, I would like to suggest you to come up with a Regional Language Section of NL as a vast majority of people listen to Mainstream news and do not get adequate information which is their right to know.
will agriculture land will be taxed because even in uk it is not taxed in life time after life time,also prof prices of agri land are much more inflated but same farmers are poor because there is very less yield almost only 1 % for eg if you have land of 20cr your income from it will be 10-20 lakh
Only leftists are invited on this channel, they look in only one direction .😂
Can think about it after India becomes high income country till then keep dreaming.
This tax will punish only poor people ,who have few lakhs or even few thousands and a small hous e . It is against 90 % people.
Only the top 1% of the individuals will have to pay it if it is applied. That fact you haven’t seen the entire video or is ignorant of the inheritance tax.
@@waretrocksTop industrialists are already taxed 97.5 % only for knowledge.Read I.T. rules then make comments.
@@AjayKumar-re2zp The top industrialists pay their tax as per their applicable tax slab. This is not personal income tax that we are talking about. It is inheritance tax which is applied to the top 1%. It is different from the normal income tax which a common citizen pays.
Where were you when the video was playing? 😅
The video clearly states that after death of family head,govt will confiscate 50% of money ,ornaments etc thus make them poorer.
Fuck socialism
You newslaundry, do journalism not prost***tion...