A government of the rich, for the rich by the rich would not tax the rich

A government of the rich, for the rich by the rich would not tax the rich. This simple irony escapes Cyril Almeida.

But it gets worse, damningly, cursedly, outrageously, disgustingly worse, when you realise that the Rs9 the government is earning is earned by taxing the poor. Six of those nine rupees are earned by the dreaded indirect taxes, the same ones that impact the poor more than the rich.

Why? Because the government won’t, in any meaningful way, tax agriculture, it won’t tax the stock market, it won’t tax real estate, it won’t tax services catering to the rich, it won’t tax the fat cats. It had a chance in the latest budget, but it got cold feet. The poor are easier to tax.