Make more Strikes on “Black Wealth” than “Black Money”
If the Opposition is serious let them give up forever the “Corporate-Friendly” policies and embrace the “People-friendly” approach
Dr. Javed Jamil
The Doctor prefers Surgeries over Medicines even where they are not required. Two “Surgical Strikes” within a short period, both proving dismal failures in achieving the stated objectives, have put the competence of the Doctor in serious doubts. The first was stated to be aimed at preventing Pakistan and the terrorists it supported from making terrorist attacks in India. According to a BBC report based on its own independent investigation, only 9 Pakistan Soldiers have died since the strikes were launched. In contrast, Indian media has reported killing of much greater number of Jawans and civilians. The Doctor hoped that it would galvanise the whole nation behind him. Instead, the whole opposition united against him, and the public mood soon took the reverse turn with more and more people doubting the claims and intentions. The second one with the stated objective of curbing Black Money has hit the nation so badly that hardly anyone would now want the Doctor to perform another surgery.
For more than 15 years, I have been arguing that wealth, not income needs to be taxed. The modern world including India, which revolves around the worship of Mammon, does just the opposite. This is clearly aimed at helping the hegemony of the few corporates who control almost everything in the world today including its wealth. They want the whole world to be honest except themselves; they alone in tandem with their political gulams and the Banking Sector have the right to be involved in all sorts of corrupt, unjust and inhuman practices. The result is that the wealth of the wealthiest continues to grow in astronomical proportions and the Economic Disparity keeps proportionately climbing. Now, my son Ali Javed, himself a student of Masters in Economics, has coined the term “Black Wealth”, which sums up excellently well what I have been arguing for long. It is the Black Wealth, which is the real danger; “Black Money” is a much smaller threat. Black Wealth is generated by the Corporates by selling consumer items at a rate 5-10 time more than what should be justifiable and accumulating the wealth in the form of various kinds of properties. If wealth instead of income is taxed, no black money will remain there because people do not have to conceal their incomes. Whatever they earn will either be spent generating indirect taxes for the government and whatever they save will be either deposited in the bank again helping the economy or will be used to create the essential assets. If they create wealth beyond a certain limit, again they will face wealth tax. Wealth Tax should be minimal for lower slabs and should be increasingly higher for the increasingly higher slabs.
If Surgical Strikes against Pakistan had been made without being declared, this would have been much more fruitful. But the Doctor wanted cheers, which unfortunately soon died down. I(f Surgical Strikes against Black Money had been made in a more systematic manner, they would have forced the people to queue to the Tax Department. Instead, the relatively richer people lined up in front of the Gold shops and the rest lined in front of the Banks and ATMs. I don’t think much of the money has flowed into the State Revenue. Instead of money being recruited to the Revenue, it has been virtually killed. The wealthiest remain unperturbed because their wealth has hardly any taxes against them.
If the Doctor wants to continue with his “Service” to the Nation, he will have to think about the Nation rather than the Economic and Political forces that control the Nation through deceit and treachery and that brought the Doctor to head the Hospital. If he wants to make the people richer, let him start decreasing the Income and Sales Taxes and increase the taxes on wealth. Let him also make big Transplant surgeries to force the Industries to charge only as much prices from the consumers as they deserve instead of charging almost ten times.
If the Opposition is serious let them give up forever the “Corporate-Friendly” policies and embrace the “People-friendly” approach.
Dr Javed Jamil is India based thinker and writer with over a dozen books including his latest, “Muslim Vision of Secular India: Destination & Road-map”, “Qur’anic Paradigms of Sciences & Society” (First Vol: Health), “Muslims Most Civilised, Yet Not Enough” and Other works include “The Devil of Economic Fundamentalism”, “The Essence of the Divine Verses”, “The Killer Sex”, “Islam means Peace” and “Rediscovering the Universe”. Read more about him at http://www.worldmuslimpedia.com/dr-javed-jamil. Facebook page: https://www.facebook.com/drjavedjamil; also https://javedjamil.com/. He can be contacted at [email protected]