Congress Pushes for Billionaire Tax Amid Global Discussions
- Congress has asked Prime Minister Narendra Modi for his stance on a billionaire tax ahead of the G20 meeting.
- Brazil's proposal for a 2% wealth tax on billionaires, supported by several countries, could raise significant funds for public investments.
- A research paper suggests a 2% wealth tax and a 33% inheritance tax in India could generate 2.73% of GDP in revenues.
- A survey shows 74% of Indians support taxing wealth to address global issues like hunger, inequality, and climate crisis.
- Former leaders have urged current G20 leaders to support a global billionaire tax, though some nations have raised objections.
Source: Economic Times
Talking product sense with Ridhi
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Congress is literally the worst opposition any country could ever had.
Never thought it's wrong to work hard now.
Ideally this should be the case.
But for a country like India, with so much corruption at every level, this should be executed.
Congress is not creating this demand out of concern for the people. They have innately created the narrative of crony capitalism and they are cashing on this narrative to further make sure people eventually hate the rich because they have more money.
It will eventually result in India losing out on indigenous ways of disrupting different markets like telecom, air travel which require heavy investment and it will eventually slow down investments into different projects in the country.
**this should not be executed.
I have point is politicians and their immediate families are also part of wealth tax and Inheritance tax in India