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Shvoong Home>Arts & Humanities>Common man and taxes Summary

Common man and taxes

Book Summary   by:gangyo     Original Author: vipul kumar gupta
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Common man and taxesThe reforms by the government have taken economic development but at a very high cost. Middle class is earning good money but senior citizen or people who depend solely on fixed incomes are hit very hard-as interest rates have fallen too low. Because of high inflation the purchasing power of rupees has fallen to a very low level. Also due to socio economic changes people spend a lot of money for comforts and luxuries as more family members earn now. Most couples are now working ones.The government is encouraging shares business which is a risky affair for common men. Share market is manipulated by “Sattabaz” (speculators). The case of Harsh Mehta etc. proves it. Every person’s dream is to own a house. But for a common man this dream cannot be fulfilled as real estates rates are sky rocking and because of faulty tax laws and high stamp duty rates etc there is lot of black money involved in it.Also because of various tax laws family settlements during the life time of elders in a family are not settled, which make family unhappy and cordial relations among family members are just not there. Therefore, on all family transactions there should not be any taxes including stamp duty etc. There are multiple taxes and as per some surveys one pays more than two-third of income taxes-all together. It should not be more than say thirty percent only. This also results in heavy corruption, as it seems that one earns to pay taxes only.In return no social security- financially or otherwise especially medically- at old age is being provided by the government. Also there are poor basic amenities to the citizens like good roads, adequate electricity and water supply and transport system in metro cities etc. At all public offices there are more harassment and corruption without greasing the palms of officials no file or paper moves.
Published: October 12, 2006   
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