Tuesday, August 08, 2006

An Idea for the Finance Minister

Only 8 million people in India pay income tax. The reason for this is clear. The procedure is too complex & people think they pay too much. What I suggest is have just one flat rate for everyone. Just 10% of their income. Nobody will grudge paying 10% of their income to the government. This move will in one stroke unleash a lot of white money that can be put to good use.


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