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Thursday, March 31, 2005
One-third of the briefcase
Bibek Debroy speaks out against the fringe-benefits tax here.
And, to get to an older piece of writing with a broader theme, Madhu Menon speaks out against all income tax here. This is not a flippant rant, but an argument that I find persuasive. Read it for yourself, and feel free to point out any flaws in it.
Update (April 1): Arun Simha, in an email to me, writes:
And, to get to an older piece of writing with a broader theme, Madhu Menon speaks out against all income tax here. This is not a flippant rant, but an argument that I find persuasive. Read it for yourself, and feel free to point out any flaws in it.
Update (April 1): Arun Simha, in an email to me, writes:
A key point is the perverse nature of income tax. Perverse, because we get taxed multiple times. Earnings and consumption are taxed. In other words, not only do we pay income tax on our earnings, but also pay taxes whenever we buy a packet of biscuits, or go to see a film or buy a tablet.
That to my mind is a violation of my rights. That fact alone makes me unequal as compared to, say a wealthy farmer who gets taxed only on consumption.
