Tuesday, July 8, 2014

Indexing tax slabs: an idea whose time has come

.........Inflation acts as a faithful ally of the ruling dispensation in extracting extra taxes from the working population. Indexation of tax slabs, as suggested by Nobel Prize winning economist Milton Friedman, can work as an effective antidote and save the hapless taxpayer. Let me explain the phenomena with the help of a simple example:.................

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