Modi's
this exercise reminds me of one story in that story, a police officer
pesters many innocent citizens to find out a thief. He arrests many
innocent people in the village, beat them, and torture them to find
out one thief. In that process some die because of that beating by
that police officer and at the end he never finds the thief because
that thief had escaped smartly while this idiot police officer was
harassing the citizens. When he was asked to explain all the
atrocities he did on citizens, he told, his intentions were good and
so he should be excused! He also asked people to forgive him because
his intentions were wholesome! However, that police officer was
suspended and later removed from the job. Our present PM is much like
this idiot police officer. I wonder, if Modi will be suspended and
dually removed from the post for this foolish policy.
Luckily,
SC has begun to ask questions to the government but I do not know if
that inquiry will yield any sensible outcome. Some legal experts told
me that such action he couldn't take unless he informs the higher
authorities such as President of India, Supreme Court Judge, vice
president of India, attorney general and only after their approval he
can take such extreme actions otherwise Mr. Modi has done a crime of
exceeding his authority. We do not know if this Prime Minister will
be asked to step down for such a dastardly act on voters who are not
anyway concerned in black money matter. Most those who were troubled
were not in any way involved in black money hoarding. They were
mostly below income-tax level.
I
wanted to find out what people know of black money. Most with whom I
talked did not know what black money is. They gave their imaginations
about what is black money that shows that most ordinary people who
were victims of Modi's atrocities did not know what black money is. I
wonder if my readers are aware of what is black money. So let us
first try to know what black money is.
Our
government has set some income level that shows if the assessiee has
exceeded that limit. When a citizen earns yearly more than that level
he becomes an assessee. He is obliged to file income-tax return with
concerned department and pay appropriate tax that applies to him.
That means his income below that limit is not taxable and so that
amount is not to be considered in the calculation for income tax and
so it is white money. If he pays all the tax as required by his level
of income rest of the money is white. However if he fails to file
income-tax return as required and does not disclose his income then
he comes under scrutiny but even so his income is not considered as
black unless proved so. This is for non-agricultural people. For
farmers there is no income tax and so all their income is white.
Why
we pay income tax? British introduced this personal income tax during
later part of nineteenth century some time around 1863. The purpose
of this tax was to have control on citizen. It was never meant to be
revenue source. The tax is to terrorize individuals so that British
can rue with ease. They knew that only financially strong people
think of rising against the ruler. To control that section of people
was the purpose of this tax. In later period, many governments world
over found this excuse of income tax convenient to put pressure on
financially powerful section of the society and so most governments
introduced this tax in their kingdoms. However, we also see that many
governments who have respect for their citizens do not put this tax
on them. After knowing the main purpose of this tax let us try to see
if this tax really earned so much money so that, a government can
justify this tax as a sensible revenue component. In our country,
personal income tax contribution is as low as 2% out of total revenue
of all taxes. Suppose we waive this tax what we suffer from revenue
point of view. Practically nothing is lost. That means, the tax is
not a sensible contributor in our revenue earning. However, our
government and all the other governments all over the world want to
keep this tax as a terrorist tax and a definite a tool in the hand of
government to pressurize citizen from trying to ask questions. This
tax as many experts have agreed, is an anti freedom measure of those
governments who want to curb freedom (secretly) of people. As such,
we as freedom conscious people should oppose all attempts to impose
this personal income tax in their budgets.
Suppose
this tax removed what shall be the economic scenario. We shall view
this in next post.
This
serial will continue in next post –
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me on my Email ID given below,
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