Thought provoking

My View on  "The Robbing Hoods - T C A Srinivasa-Raghavan": 

This article is thought provoking. Except generating black money and dishonesty even among honest and good people,the IT has not helped the economy in the economic sense.This has created only socio-economic problems benefiting the politics as rightly indicated.If the BJP can remove the Income tax, the party can claim to have achieved a revolutionary change benefiting the economy, the society and politics a lot. The loss of revenue can be easily made up by saving administrative cost,enhancing the savings, investment and production cycles with attendant benefits etc. Further, the Government can raise revenues through dividend tax above a cut off limit, enhance STT which is not inflationary and which is affecting only those who are in the capital markets which is emerging as a speculative den instead of as a capital formation avenue. Or else the Income tax can be in the range of 2% and 10% on all incomes without any exemptions what so ever. 

- Dr.T.V.Gopalakrishnan