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https://m.economictimes.com/news/economy/policy/why-income-tax-payers-in-india-are-a-small-and-shrinking-breed/articleshow/56929550.cmsYess. Subramaniam Swamy is 200% right . Now that whole world is entering into a recession , the total abolition of personal income tax wud immeditately boost the sentiment and kickstart the investment climate immeditately . Although Modi govt has made income tax scrutiny a face less digital exercise that too hardly 1% of the total returns filed , still the public have the phobia of income tax. So if Modi govt abolishes it by substituting it by a expenditure based tax all the people will feel relieved . Also govt shud abolish TDS on Fixed deposits to encourage domestic savings to highest possible levels . In fact I have been hitting hard for last one year on Quora numerous posts exhorting govt to abolish the stupidest income tax forever . This income tax has helped only for the accountants ,auditors , filthy rich people to make money and at the same time poor people , middle classes are all a harassed lot . I can just give one example . In Mumbai like city suppose a poor man wants to own and drive autorickshaw the dalals or agents fleece the poor man over Rs50,000 by raising the phobia of income tax scrutiny of the poor man. So he simply pays up. On the other front the D.K.Shiv Kumar ex Minister of Karnataka who was just a goon few years before has amassed over Rs800 crores ( as per his poll affidavit ) .If his house was raised in Delhi last year over Rs100 crores were recovered in cash which he says it doesn't belong to him..He is still not arrested and convicted . On top he had declared he will be the next Karnataka ' s Congress Chief Minister after Kumarswamy . So is it not a mockery of the laws ??? All these 71 years of independence has generated trillions of black money stashed abroad and govt desperately seeking FDI all over the world to start it's gigantic projects like River linking projects etc. So what is the use of Income tax laws of 71 years ??? If govt has no money for important projects ???How Banks Create MoneyAnither example Tough to recover 98% of I-T arrears: CAG - Times of India if known arrears of the order of Rs11,70,000 crores of income taxes are impossible to recover as confirmed by CAG , and probably another same amount embroiled in all kinds of undue litigations ,where does the govt stand ,how govt will execute it's big transformation of India projects if it' s staff can't even recover these Himalayan dues from people ??? It is relevant to mention here that most of the Indian public are not in the income tax net at all. To be precise hardly 2% of the India's population .Why Do So Few People Pay Income Tax In India? Is it worth the toil for the govt ???Under such circumstances is it not prudent to reexamine the whole issue with an effective substitute ??? That wud reduce Govts head ache, will relieve all the general public of all the phobia ,all the harassment, and wud help kick start the economy ????I wud even go one step further . Govt shud ponder over total abolition of Corporate taxation ( income tax levied on companies ) and make it too an expenditure based taxation. So all the FDI in the world will start knocking Indian govt doors as this wud be a new concept . And gradually all the nations in the world will start following Indian succcess story .https://owlcation.com/social-sciences/Functions-of-Money-in-Modern-Economic-SystemAdditional benefeits wud once income tax and Corporate taxation is abolished in total there won't be any geneartion of black money at all and all the money will stay permanently be in the system itself . Total Paperless digital transaction will become a reality before 2024 . On top of it Govts collection in lieu of income taxes and Corporate taxation will be much.much more than present revenue collection and there won't be ant need for India to request foreign Govts for FDI bcoz our own indians black money stashed abroad can be brought back by declaring amnesty . ( May be $ 2 Trillions ).4-1.1. What Is Money, and What Role Does It Play in the Economy? - Module 4: Money, Interest Rate, and the Exchange Rate | CourseraExpenditure tax in lieu cud be in the region of 0.001% or so. i.e. if I spend Rs1 lakh govt will get Rs100/- . Since the investment climate picks up and rotation of money becomes much faster and that too several times. Anyway this percentage of expenditure tax can be debated,worked out by an expert Commiittee before promulgation.Suppose today money spent goes around 7 times ,then after abolition of income tax the same money will go around for 70 times genearting probably that many number of times the expenditure tax to the govt ..Hence naturally when availablity of the money in the system becomes easier interest on the loans can come down to even 3 %. Like in foreign countries .Then investments will pick up like anything . The fall side of this wud be also the fall of FD interests to that of levels prevailing in foreign countries .A simple explanation of how money moves around the banking system

Recursive amnesiac voting and Family ownership of parties limiting talented leadership optionsWe can point out a lot of reasons that are holding our progress. Most of them are part of a circle of problems with one giving rise to the other. For example most would say Population is the root cause of problem. But think Venezuela, is a country having one tenth of our population density is in a state of chaos. So large population can not entirely be blamed for that. We can blame our education system, our infrastructure, our social problems and what not. But we still don’t get to root of it. Why a country like China which was much behind us just a few decades back has risen so much that now it appears a joke if anybody talks about India getting past them? Didn’t china had their own social and economical problem that we had? They had. But they made long term leadership change often sidelining their communist ideology.I believe a good political leadership can radically change a country. But in India we have the same set of leaders to chose from and their turning of parties into family ownership exacerbate the situation. Lets see how.WHAT HELD BACK BIHAR AND BENGAL?Let me give you en example of somebody who ravaged the state of Bihar into ruins of anarchy.Lalu Prasad Yadav: The man who transformed Bihar into a bank of Laborers impelled to migrate to other states for livingThe state of Bihar wasn’t particularly a failure before he took over reigns as the per capita income over the period 1980-81 to 1984-85, Bihar grew at one of the then fastest rates of 5.3%. Lalu came to power in 1990. Everything Changed in Bihar. Forever.Lalu couldn’t have come to power in Bihar at a better time when India had adopted liberalization and the states of India were reaping benefits of it. But this guy used it for his own personal use. He did a staggering 285 Million $ dollar [Rs 3400 crores in todays time) fodder scam to literally screw the economy of the already poor state[1]. When other states were increasing their GDP per capita, Bihar’s GDP plummeted from Rs 1,197 in 1990-91 to Rs. 1,073 in 1997-98. According to a report, Individuals in India would see their incomes double in 22 years ( i.e., at least twice in their lifetimes) while the figure for Bihar was 63 years(three times as bad)[2]. More than economical factor Lalu with his henchmen created an ecosystem of crimes where murders were normal in the state. Extortion was a business which meant there were about 300 reported kidnapping in the state per month. And mind you these are reported numbers if the kidnapper mentions a particular “surname”, that would mean nobody can save you[3]. What that meant was, you can’t afford to do normal business in the state, which meant there was no private employment. Govt employment was out of bounds for hardworking and smart people and was kept for again people of certain surname.And despite that people of Bihar kept on voting Lalu for three consecutive term till the time when the state was turned into a ghetto of underfed stunted growth individuals left with no option but to flock general compartments of trains to other states to earn a living.When the bad of Lalu is displaced……And when change happened in 2005, within a span of 12 years of the corrupt guy not in power, the state which was in artificial recession did this.Today the SC of India also confirmed life sentence of Sahahbuddin the face of Lalu’s anarchy in Bihar for brutal murder of two brothers[4] . The crime figures have dropped in Bihar since the Lalu Raj.The left rule in Bengal: The fall of BengalThe left ruled Bengal term after term for 30 long years[5][6]. Here are some factsIn 1981, the state contributed 9.8% of the industrial output of India. In less than two decades, that figure fell by half, to 5.1%.In 1986, the Kolkata airport was handling about 10% of India’s import-export volume. In 1999, this had dropped to 4%.The share of West Bengal in the total value of industrial output in India declined from 9.8% in 1980-81 to 5% in 1997-98. A paper by Ajitava Raychaudhuri and Gautam Kumar Basu of Jadavpur University, Kolkata, points out that the share of manufacturing in the state economy declined from 21% in 1980-81 to 13% in 2000-01. Letters of intent issued for setting up industries went down from 41 in 1977 to 28 in 1991, while for Tamil Nadu over the same period they increased from 22 to 68.Reserve Bank of India figures show that in June 1980, bank deposits in the state accounted for 11.4% of pan-India deposits and this fell to 7.3% by March 2000. That’s a proxy for the relative decline in wealth.Also, bank credit in West Bengal accounted for 10.3% of total bank credit in the country in 1980. Twenty years later, its share had fallen to 5.9%, an indication of the lack of opportunities for funding businesses in the state.Both Lalu’s and left rule coincided meant the two states which used to be major source of income in colonial era were being economically and socially devastated and people of India voted for pathetic leaders again and again.And these are just two states, we can take many more examples of incompetent leaders like 10 year rule of Digvijay Singh which afflicted Madhya Pradesh, The Mulayamera of Gundraj in Uttar Pradesh and many more. People somehow get addicted to bad leadership or may be bad leaders rig the system in their favor.Even at the national level, I believe People of India should have kept Indira out of power for much longer as a comeuppance for not just what she did in emergency but also for her economic performance. It was under her regime post emergency period that China sped past us[7].Check out the Graph, While she plunged the country in chaos between 75–77, China was slowing improving leaps and bounds economically.POLITICAL PARTIES: A FAMILY ENTERPRISENow the worst part of our political system is that parties are being owned by families which means there is absolutely no intra party democracy. This means that birth of a person and not his competitiveness defines his leadership position. And we have already paid a heavy price for that. When Indira Gandhi died, the reigns of party were handed over to Rajiv Gandhi. A person with absolutely no experience in administration was given the control of teh country at the most vulnerable times. And no Indian PM mishandled more things than Rajiv Gandhi ever did. From Sikh Riots to Bhopal Gas tragedy to Shah Bano case to handling the LTTE, he messed up just everything His economic polices can be held responsible for taking India to brink of bankruptcy. His lack of experience was conspicuous in everything. Why Rajiv superseded much more experienced and competent leaders in 1984, simply because of his surname.I believe India was a bit fortunate to have Narsimah Rao at the right moment during the liberalization era. Otherwise Rajiv could have made things worse for us.Today most parties in India are family enterprise. Samajwadi Party is ruled by the Yadav Clan, the DMK is ruled by the Karunandhi clan, Akali Dal by badals, The Shiv Sena by Thakreys.What family ownership do is that it entitles certain individuals for political leadership without competitiveness. And our system is such that sooner or later the other party is going to win. When Lalu was sent to jail in fodder case, his illiterate wife was entrusted with responsibility of the state. Can you imagine somebody who can’t put her signature properly taking the all important job in a state? Today we are staring at the scary possibility of Lalu’s sons Tejasvi and Tej pratap coming to power in Bihar And their behavior is already giving me premonition that they will undo whatever good was done in Bihar in last decade or so. The political bad in India has been institutionalized as “only alternative”.But that being said I am not saying that no relative of a political party should be in politics but we should have an elaborate mechanism to ensure that no bad leader takes up important roles. For example America has an intra party democracy and keeps a cap on number of times somebody could be president. China even though communist keeps changing its top rules. (I guess that would change soon with Xi changing rules to squat on on top job forever. But in India a family can cling on to power forever.)In nutshell the repeated voting to bad leaders coupled of institutionalizing bad leadership (family rule) as “only alternative”, is something holding back in India. Weak and corrupt leadership is a bane. A Lee Kuan Yew can transform a city like Singapore into a global powerhouse and somebody like Zia ul Haq can transform a country for bad for ever. Somebody like Putin (although his conduct is not the best one) can represent his country with confidence and somebody like Justin Trudeau can embarrass his country.As the great Alexander said.I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion.PS:The people of India have to vote judiciously. While voting make sure you are voting the right person with right vision. Don’t hesitate in voting the same person again and again if his performance is good. And don’t vote a bad alternative because the current one is average. You don’t shoot on your feet to treat a tooth ache after all. The end objective should be strong leadership. And to achieve that people have to vote especially the upper middle class with a “what change can one vote make” attitude.Footnotes[1] 'Fodder Scam' Could Bring Down a Shaky Indian Government[2] https://www.nipfp.org.in/media/medialibrary/2013/04/WP_2012_107.pdf[3] Here's why Lalu-Rabri era is known as jungle-raj in Bihar [4] SC upholds Shahabuddin's life sentence for Bihar murders - Times of India[5] Basu raj: West Bengal’s historic blunder[6] The political economy of CPM’s atrophy in West Bengal[7] How India fared under Indira Gandhi

Lack of originalityRemakes of classical movies for a “younger audience” that pale in emotional richness to the originals. e.g. Blade Runner.Plagiarizing and copycats of foreign movies, recast in a US framework (e.g. Le Retour de Martin Guerre => Somersby; Trois Hommes et un Couffin => Three Men and a Baby; La Cage aux Folles => The Birdcage; The Seven Samurai => The Magnificent Seven; Zaitoichi => Blind Fury) They are taken out of the cultural context and become almost bizarre in cases (e.g. Blind Fury inspired by Zaitoichi. There is no Western equivalent of a “free agent” samurai.)Sequel ad infinitum until the latest versions are so predictable and indigestible that even mass audiences avoid. e.g. Star Wars, Transformers, Superhero movies…Formula scenarios. For example, tried and tired science fiction themes:Vampires & Werewolves. First, set in Transylvania, then exported to the US affecting young, good-looking people.Comic book superheroes, facilitated by CGI. Superman, Thor and company.Time and dimension travel. Time cops, temporal incursions, altered timeline realities, parallel universes, time loops, wormholes, dimensional portals…Goodies and Baddies. It may as well be Cowboys and Indians, humans versus aliens as the baddies, and preferably with the goodies portrayed by some ultra smart, ultra powerful youths of similar age to target audience.Ordinary humans altered by genetic modification or alien transformation into superheroes, and, surprise-surprise, they all turn out to be agents for Good.Bad aliens who abduct, experiment and otherwise wish to exploit humankind or the earth-Gaia.Man portrayed as the result of genetic seeding by ancient, advanced extra-terrestrials who decided to leave some DNA but no education or technology.Dystopian or idealistic futures.Either an evil, bureaucratic dictatorship by man or machine, or,Reversion back to Wild West after some planetary disaster, alien destruction or technological disaster,A Utopian future with no obesity, ugly people, money troubles and diversity (except, until very recently, integration of homosexuals).Unrealistic portrayals to the point of ridiculousness:Poor casting in order to get box office success with “celebrities” instead of appropriate actors.Feminine and masculine portrayals that are absurd: Size zero, never stressed or tired, model-looks, stylish, coiffed and made-up female cops, firemen, bodyguards and soldiers who can dispatch huge, muscular opponents with a flick of the wrist. (Fight between Seven of Nine vs The Rock!!!)A predominance of actors chosen who are at or below average BMI, perfectly coiffed, never crumpled, sweaty or anything but cool, turned-out and achingly good-looking, when nearly 2/3’s of adults are overweight and a significant part of them are obese.Everyday scenes that are so out of keeping with real life demographics that it smacks of deliberate disinformation:Hawaii where 75% of locals are non-White, somehow is portrayed as mainly White. At least, the modern Hawaii-5-O has Asian cast, but, of course, the leads are Caucasian; they even preferred to import a White actor from a foreign country to play the lead than have a local Hawaiian actor.Scenes in DC, where most residents are Black but most depictions of the street population are not.Overused Themes with an AgendaSpy adventures and dramas with clearly-defined, simpleton versions of “enemy countries”. For the US, it used to be Great Britain (“Red Coats”) in the 19th Century; Germany (“Nazis”) and Japan (“Nips”) until 1960s, then Chinese (“Yellow Peril)”) and Soviets (“Red Peril”) until 1980s; now, only N. Korea remains as a “State enemy nation” that allowed as politically permissible. Which country will be a valid cinematic “bad guy” if N. Korea makes peace? Syria, Iran and Russia are not portrayed as “enemy States” but as countries of good people suffering under “bad leaders”.Filling children with unrealistic expectations.Children superior to adults in intelligence, maturity, ability like “Cody Banks”, innumerable Disney “family films”; in reality, “forced ripe” children often suffer from socialization impediments that lead to unrealized potential.Idealized fairy tale portrayals of family life: The pursue of “The One” for all life, couples in senior years “still in love as on the first day”, overly frequent and inappropriate verbalization of “I love you.”, divorces that occur quickly and without major depression or financial devastation. The text of “for as long as we both shall live” is so unrealistic and insincere that it should be “for as long as we both shall wish”!“Acceptable” prejudice of the day. For US cinema & TV, it was first the Indigenous (“Indians”), the non-Anglos, the non-Protestant, then the Jews and non-Europeans. The Muslim, bearded, dark-skinned non-Anglophone is the last group to whom overt discrimination as “potential terrorist” seems almost “normal” to populist American mindsets.Social Engineering Themes. Portrays of uber-wealthy minorities who have 2000 sq ft apartments on Park Avenue, of tiny, beautiful women who can beat up massive thugs without a hair out of place. Nothing is wrong with an idealistic portrayal but when it is the most frequent portrayal, it’s disregards the situation of the vast majority and sets up youth for a life of frustration due to unrealistic expectations.“Christian” movies that always include reference to a “God” as the ultimate reference in life - despite the fact that religion is a Man-made phenomenon and that organized religions are essentially self-serving human entities; they served a purpose when the mysteries of nature required comforting philosophies. After the Age of Reason, millennia old non-scientific belief systems should have gone the way of believing the Earth was flat.Hollywood Relationships That Are Impossible, Idealistic.Tired Gender Stereotype Themes that should be bannedPortraying one gender as smart and determined, and the other as hapless and fickle. (Today: Females >> men; Yesteryear: Men >> women). People are individuals, not stereotypes.The emasculating bossy female surrounded by weak/incompetent/clumsy males (e.g. The closer, Star Trek Voyager)The ditsy, hapless, needy female relying on stoic, calm, confident men (e.g. early James Bond films)The “Wonder Woman” who looks like a model, is a CEO and raised two children without being tired or flustered.The jock who isn’t smart but handsome.Hairy, bearded, dark-skinned or otherwise “foreign” predominantly playing bad guys.The stereotypical denigrative and reductive portrayal of gays who speak, talk and generally behave in a discernible manner from non-gay, usually considered an object of hilarity or oddness.Idealistic Human Relationships. Teams comprised of mixed background individuals who are perfectly harmonious. Never an off comment, racialism, sexism akin to future utopia first portrayed by Star Trek in the 1960s.General dialogue that is unnatural or formulaicSitcoms and soap operas whereeveryone speaks clearly with excellent grammar, or, on the other extreme,never have conversations, just one-liner responses followed by canned laughter.Set phrasing such as: OMG, “Our thoughts and prayers…”, “need closure”, “Thank you for your service” (unprompted to random police and military), “a whole other level”, “out of the ballpark”Dialogue with no mumbling, poor grammar, incomprehensible passages, ambient noise.Annoying Cinematic TechniquesVisual overload, geared to individuals whose attention span is a fraction of a second:Camera angles that switch every second or less, even in scenes that involve stationary characters.Excessive reliance on “action scenes”, violence, noise and explosions to convey dynamism. (most war, Western, police/detective, superhero movies)Exaggerated Affectation (OK in small doses)Instead of for comic or dramatic effect, hyperactive behavior is normal in productions (e.g. Robin Williams’ personae, Jim Carrey’s personae etc.)Sound effects and music that overwhelm the screenplay and emotion of a scene.Poorly paced scenario to the point of being soporificThe opposite of a well-crafted scenario that is unpredictable when there are highs, lows, speed and motionlessness, light and darkness, and every shade in between.Non-stop action, inaction, noiseUnvarying mood, lighting, atmosphere.Scientifically Absurd FeaturesSound effects in the vacuum of space; how can there be any sound?Backward time travel. Even Stephen Hawkins discredited this concept.Orchestral “mood” or “anticipatory” music to the point that the audience thinks “She/he’s blind to an “obvious” imminent danger.”Incredibly violent conflicts where no one is permanently deformed or killed. CGI has only made cartoonesque banalization of violence more convincing (Ghost in the Shell. Quentin Tarantino fight scenes.)Car chases in congested cities where there is almost no injury or fatalities; the reality is that police have been severely criticized for engaging in car chases as they cause much collateral damage.Predictably Biased Perspectives (for American productions)American were “patriots”, not insurgents, in wanting to secede from British rule. Yet, it was righteous to prevent secession by Confederate States. Then, in an about turn, the American government forced former Friendship Treaty signatory Gran Colombia to allow its Panama Province to “secede” after it refused an indefinite lease of the Canal Zone; with US warships in Panama harbor.The Northerners were “good” in wanting to emancipate Blacks from slavery. The reality is that industrialization had made slavery obsolete in the North and the Confederate secessionists still depended upon Black labor for rural economies, the Federal President knew that suddenly stopping slave labor would cut the knees out of the Southerners while the North’s economy would continue. If the Federal government had truly waged war for the benefit of the enslaved Blacks, it could have offered compensation to the Southerners for sudden loss of economic means - and encouraged industrialization of agriculture.“Remember the Alamo” as a rallying cry but the situation was simply one of unfettered settlement by Anglos in territories of New Spain / Mexico, and then wanting to secede to become part of the USA. To this day, this has consequences as Mexico does not allow any foreign ownership of land within 150 km of a land border or 50 km of a maritime border.The USA “saved” the World in two World Wars. If so, it was done kicking and screaming. Throughout the 19th Century, the USA was isolationist (except when it came to interfering in the affairs of other Western Hemisphere states)WWI It only joined WWI very late; the American losses were 0.13% of its population with “only” 53.4k recorded in combat deaths and another 63k deaths post combat with no US civilian casualties. In contrast, France lost 4.3% of its population (including 340k civilians) or about 1.7 million. The USA only joined WWI when U-boats sank some US merchant ships on their way to Europe. It was a mere 1 year of conflict for them and not motivated by altruism.WWII. Again, the US position had been to not interfere; thousands of miles of ocean kept the wars out of sight and mind. It took the insolent and unwise Pearl Harbor attack by the Japanese to spur the American government into action. They soon realized that technology has made the likelihood of Germany bringing war to US shores as very high, given that Japan had successfully launched an aerial attack across the Pacific vastness.Still, the USSR lost the most some 13.7% of its population or 26.6 million people, more than half among civilians (16 million).China lost 25–20 M (3–4% of its population)Poland lost 6 M (17% of population), of which the vast majority civilianThe USA lost about 0.4 M (0.32% of population); almost no civilian deaths.What really turned the tables on the Nazi military was the ill-fated attempt to take over the USSR - over winter. Just as Napoleon failed for the same reason, the Nazi military was depleted - even though the casualties were horrendous in the USSR.