Only banking transactions at the time of deposit @ 0.50 % may be charged. No trasaction/purchases taxes to be charged.

A good discussion. This is called a matured media.

Nehru once noted "live life dangerously" s swami who always target him follows the said path...dont understand how he coceives such extraordinary ideas..think another disruptive measure is on the way & we all are guinea pig.....

Modi’s preparation for 2019. They think people are fools. Bunch of clowns these blokes.

Sujit Nair has no fire..I personally would like to see him on pyre..poetic justice..kaha Swamy.. kaha Nair..

Abolishment of income tax in India seems quite distant.

Best way to tax people is bring in the BTT.. Listen to anil bokil to get clarity.. Humble and a genius man

If implemented and failed, these guys will start talking as if they predicted that it will fail. These are ‘I told you know’ guys after the event.

Horrible .So we have to pay tax, own hardearned money withdrawing from bank..then poor people will be much poorer....

Dr Swamy never proposed transaction tax or expenditure tax. 1st 10 of our excise duties contributes of our 90% revenue & any way rich guys don't pay much bcoz they have army of CAs 4 them. How ill informed this two guys are..its laughable. even the poorest of poor when buys something pays GST on it. Bulk of the income tax is collected from working class & traders. If income tax is removed, rate of saving will shoot up leading to GDP growth. (condition applied)

@rext8949

4 жыл бұрын

I'd say you're the joker . Consumption tax will wipe out your salary if you are a working person since your earnings are fixed .And what is the connection between savings and GDP ?Get an education .

Today in Bengaluru, saw a dharna by code workforce, soon another miniratna union for wage hike. Not surprising for both the companies we executed works contract and the reality we saw live was more than 70% staff are eager to timely punch, lunch timely, tea breaks and the day is called off . Imagine the avg sal of idle staff 65000pm versus the staff younger, productive, responsible is paid 18000pm on contract irrespective of tech, non tech professionals

Collecting income-tax from retired and senior citizens should be abolished ASAP.

@iamDamaaldumeel

5 жыл бұрын

So is paying pension to them.

so "if somebody is building up wealth which will not come under the radar" will stop building up wealth just because he has to pay tax? what nonsense.

@venkataramans5709

5 жыл бұрын

Wealth tax will never be removed! Dr. Swamy never proposed such a modification. He also never talked about removing corporate tax. It is only income of salaried people essentially middle class whose agony Dr. Swamy was addressing by removal of tax! The real issue is managing the below poverty line are lower middle class not getting troubled by the modification, which is quite tricky and real intelligence is required. Quite a bit of the concerns represented are blown out of proportion and motivated. But the fact of the matter is its very tricky to ensure the Bottom of Pyramid does not suffer for even a very small % would mean enormous problem at that layer.

@rext8949

4 жыл бұрын

@@venkataramans5709 There is no reference to corporate tax here only income tax .Dr. Swamy wants expenditure tax to replace income tax ; whether partially or in toto it will affect the working class including the poor the most . The reason is because working people spend most of their limited salary .

@rext8949

4 жыл бұрын

@venkata raman Expenditure tax will increase to compensate for removal of income tax .This will naturally hurt those in the lower income groups as you have pointed out rightly . Whereas marginal/incremental increase in the expense of the higher earning group will leave them with a larger 'savings' .

Titanic is shaking

Point wise 1. Who is stopping u from earning more.money 2.this concept ensures that every one contributes.

also basic tax nature is to give back in old age proportionate to tax being paid.. which is missing in india and no one is talking about it..

But it will make guys who earn say ₹1 lac per month spend less and earn some interest on it in the meantime instead of spending it right away. Greater savings means banks can lend more, hence greater GDP growth rate.

the solution is just remove income tax and not coming with expenditure tax. income tax is not a biggest contributor and any way rich won't pay much tax even today's scenario too.

wow! some good news channels are coming up where we can expect a fair discussion unlike the propaganda channels like zee, republic, aaj tak, et al.

@magixclub5166

5 жыл бұрын

no they made one mistake they should have invited him without swamy this conversation is onesided and you should not judge somthing by its cover

@tummasrikanth1440

5 жыл бұрын

kzread.info/dash/bejne/ioifrstsprmrc8Y.html

Need little more depth. Dr. Swamys entire argument is based on the saving habit of Indians. Zero individual income tax, means not only more money to spend, but more savings. Consumption will drive industry growth, and savings will fuel higher capital goods growth. Please interview Dr. Swamy to get the right perspective.

@ajitnairk010

5 жыл бұрын

Shankar Vk. They will not interview Dr.Swamy because he will destroy their narrative in seconds 😂

@haridevthiru

5 жыл бұрын

Swamy is a big-time crook. He talks rubbish.

@rext8949

4 жыл бұрын

You need a little more depth .Zero income tax and high expenditure tax will leave working people with no savings .It is the rich people who have money to save .Dr Swamy is a Harvard educated torch bearer for the rich cats .

@sachithrao6353

4 жыл бұрын

@@rext8949 he never proposed expenditure tax He himself is in favour of scrapping gst

@rext8949

4 жыл бұрын

@@sachithrao6353 what about govt revenue.

Any which way you frame the tax slabs there is always going to be inequality - its not going to be just. The middle class will always end up with max burden. The rich will always find means to avoid taxes. Take the National Herald case.

Taken 1.76 lakh crore taken from RBI to meet the physical deficit and 1.42 lakh corer tax income given away as corporate tax slash where is our prudencncy, corporates pay 22% tax and individual pay 30% tax ?

Good Discussion

Another way people are paying tax is inflation....... please listen to former federal reserve chairman Ben Bernanke reply to congresman Ron Paul on KZread that inflation is infact is a tax...

Government should sell it's stack in all PSUs.It will reduce burden on exchequer and also give ample amount of cash too.Cash Surplus can be used to offer incentives to encourage R & D work and foreign collobaration of all industries.For example Tatas acquire HAL and decide to select leading global fighter manufacturer as partner

One important change that people are not talking about here is..... we are already slowly moving towards cashless society. Just imagine what can happen once we become 100% cashless society. Everyone will have an account against his name in the bank with digital currency and what is a digital currency? its just an entry in a computer database....The Govt will not need to tax people anymore if we are 100% cashless country. In fact the Govt can launch schemes like Income support scheme for the poor. This change is happening not only in India but across the globe. We will soon see this development driven by technology for sure.....when that happens, all this discussion will become void.

This was not proposed by either Subramanian Swamy or the RSS. This was proposed by one Arun Bokil who worked out what is the Arthakranti scheme. Read about that and then talk

This discussion they started with a problem and concluded with the same problem. They agreed to disagree. Nothing came out of this. 15 minutes of my life wasted on people who don't know the solution but just wanted to talk.

Edgar Feige's 0.3% APT Tax[1-3] may be adapted to India as more citizens adopt electronic banking practices. Although it is a flat tax, it is progressive in nature since it encompasses all banking transactions including high frequency bond and stock markets. This tax also addresses tax havens[4,5] which are used by some corporations and wealthy individuals to avoid income taxes. Significant savings for government, businesses and individuals may be realized by simplifying the tax collection process. . 1. Alternative Proposals Reform, May 11 2005 | Video | C-SPAN (2nd 5-minute speaker) 2. Taxation for the 21ST Century: The Automated Payment Transaction (APT) Tax | SSRN 3. APT Tax | KZread 4. [PDF] Treasure Islands | Nicholas Shaxson 5. The Spider's Web - Britain's Second Empire | KZread

But what will be the solution for those who are very poor who buy a thing of daily use in the market will have to pay tax as per this (spnd tax/transaction tax) proposed rule because he is not a tax payer (upto certain limit it is exempted) and moreover, he has a bank account also. . ? It looks a wrong proposition .

No risk in experiment....Change you. Are welcome

Tax less economy very good Good discussion but why dont you consult Mr. Anil Bokil.

Wealth tax is best option for income tax

What will ambani do of 1000 crore rupees if he can not spend it (and by spending i mean investing and in a sense using it) without paying taxes

@thomasranjit8897

5 жыл бұрын

himanshu goyal cental banks were created by the rich to get free money to themselves and enslave the rest of population by taxes and inflation ( which is another way of taxing the people). Inflation is the eroding of the worth of the currency and we the people end up paying more money for everything......ask any older people what the cost of oil or their monthly expense were forty years back and look at the expenses now....

@ajitnairk010

5 жыл бұрын

Thomas Ranjit. Absolutely correct. The rich who are mostly higher up in the chain money flows thru will always benefit from inflation. The world monetary system is contrived to benefit those that created it. Not the ordinary folks like us.

In Islam the tax is on saving after all expenses in a year not on income or expenses it means rich will only have to pay tax bcoz they have huge savings, middle class and poor are spared from tax in-fact they will get tax from riches. Only apply this system of Islam and see the result in days Also the system of tax on income is illogical but system on saving after all expenses is logical and acceptable for people. For e.g. if someone salary is 50K and his expense also 50k in a month tell me how he will pay tax on income he will have to take loan from others to run home in this case bocz tax is deducted before he gets salary

Horrible idea what if rich people earn in India and spend abroad more

You also forgot about people who are not employed or still studying!!

Really an eye opener. Excellent video

And the question of inequality is also baseless. Investment and spending are two different things. In case of income tax investment to a certain limit is non taxable.

You may be missing a point that if more people start paying tax, tax per head will reduce. And if paying tax is made so effortless, it is added advantage. If the Govt can influence the Ambanis and Adhanis to keep their wealth, invest & spend part in India, it would be good enough. Why hold a grouch against successful people?

bhai abhi bhi to khareedne gst customer hi to bhar raha hai... ab usko bhi 2% bhada dega to kya hoga humara !!

also richer class % is very few...

Tax burden will shift from rich to poor....this is only possible in utopia where everyone earns equal amount of money

Because you may not have taxable income anymore.

if rich class dont pay.. it remains in banking..

Money is not useful till it is spent. So what difference does it make? Ambani will end up paying tax when that money starts being useful to him. It's not skewed towards the rich. It just seems so.

@ajitnairk010

5 жыл бұрын

Sriharsha Karnati. These two idiots are creating a wrong narrative of the proposal

Just what I had summed up before this video I might be wrong but had made sense to me but as I said I might be wrong . . . Eg. BTT @ say .15% ie. if you get a credit in your bank a/c of say a 100,000/- would sum up to 150/- would be debited automatically from your a/c so you would get a net credit of 99,850/- and do away with income tax which I don’t think sounds to bad . . . Next part the banks suck up (Not demonetise) ie. remove from circulation the high denomination Notes keeping say 100/- as the highest denomination Note that should take care of the Cash economy I mean just imagine a person trying to move a large amount of Cash with Rs 100/- Notes it will make it a little tougher . . . And people might say that transactions happening in cash will not attract the BTT but why would a person risk handling cash when the amount is 150/- on a transaction of a 100,000/- the point is to keep the rate of BTT low that people don’t mind paying it as long as it makes things simple and for the sake of corruption you might say that a person in power could just pay the .15% and get away with it but I would think not because that leaves a solid trail. . . But I could be wrong just my thoughts on the matter

Why not prevent double taxes, if u have paid gst, why not add it to one income tax paid? And keep it only for online transactions to prevent fraud of extra paper bills..

Abolishing IT is really not possible.

@tummasrikanth1440

5 жыл бұрын

kzread.info/dash/bejne/ioifrstsprmrc8Y.html

Make a list of essential items and keep it out of tax like milk, food and medicines ...... as poor will buy these and we can have taxes on cars and plane tickets that only rich buy

Suthr s panjamar s 2000years not allowed education. and salso now who is response we need help

Swamy does not know any economics. He did a Ph.D. in statistics. Income tax is designed to reduce inequality. In India we have extreme inequality, we have Ambani and one in every three children is malnourished.

That's not a flaw. The method itself is a loot. Reverse Robinhood. :D

Even otherwise the Middle Class and the Salaried and Consultants, where payments are made by cheque, bears the brunt and pay their Taxes. Number of Income Tax Payers in India are just 3.8 Crores.Large Section of the Population ,including much of the Professionals, don't Pay any Taxes with the Rich getting Richer.

Dono bewakuf hain kuch nahi pata inko economy ka

Always they come with a simple law, which only sucks innocent people, and this sarcastic law is also one of them.......................,,,,,,

50 LAKHS RS ABOVE YEARLY INCOME WANT TO GIVE INCOME TAX. ..

Bring Dr. Swami n have a debate on the topic .Onesided view seems agenda. I think Dr.Swami had not proposed the tax abolition as you both are discussing.

@binodyadav5050

5 жыл бұрын

u right but only keeping money inside ur house will not serve the purpose , u have to invest it somewhere to create asset, then u pay tax

@rext8949

4 жыл бұрын

Loud and clear , Swamiji has indeed said it in his programme .

Haven't we heard this shit before?

It is the rich who pay the politicians,...

Extremely bad idea... Those who have retired paying income tax all their life... will now pay expenditure tax on top of that

@nikhilagarwal4321

5 жыл бұрын

You fool, they are already paying it....what do you think MRP means when you buy something

@atanumandal3586

5 жыл бұрын

nikhil agarwal - don’t call out your daddy’s name (fool) loudly in front of everyone

Non Sense program!!!

@rext8949

4 жыл бұрын

To a person like you who has no sense .Go make Chai !

Wo direct tax hata k indirect tax laga rahe hain aye acha kadam hai are 10000 ka phone 10500 ka le lenge kaya farak padega jo paisa chupane k lia videsh bheja jata hai wo nahi jaiga aur market main he circulate hoga ..

Sorry to say, But Pl read Arthakranti proposal properly.

@ymalkar

5 жыл бұрын

www.arthakranti.org

These so called experts always looking for problem, instead of suggesting solution.

Why not tax on saving after all expenses, like zakat in Muslim community??

This Govrnant will do anything that India Inc. says.

Hasmukh Adhia rumoured to be the next RBI Governor.

@user-by7mv6tq2l

5 жыл бұрын

Alok Kumar it's shaktikanta das

Swamy said abolish income tax and auction the 2G,3G,4G spectrum u will get the income tax amount which govt is getting every year

It is a very good idea.The rich could be made to pay more tax on their wealth.

This is a trick. By new idea even begger will have to pay tax

A man earning and spending Rs 100 is not the same as a man earning Rs 100,000 and spending only Rs 100. Therein lies the flaw of this argument. Secondly, if there is no income tax , people with black money will splurge thereby helping the govt collect more funds. Also what is not fair is the rich agricultural farmers not paying s penny due to income from agriculture. This shud be food for thought.

Yahi to koshish hai bhagwadhario ki ameer aur gareeb k beech ka GAP badhana. Ameer aur ameer ho Jayga n gareeb garibi mey sadta rahega.. Ek aur policy baniya janta party ki sirf paise walo k liye

all the people now criticizing banking tax/transaction tax proposal (which was by the way suggested years and years ago during Indira Gandhi's time) and hailing current taxation regime ARE THE SAME ONES WHO ARE MOST VOCAL ON HOW OPPRESSIVE GST IS. hypocrisy abounds.

@ajitnairk010

5 жыл бұрын

Andi Dufresne. Correct

Whats the point in building lots of wealth when you will not spend but looking in the reality this will promote people to spend more with their money and it might also help to grow INDIAS economy i know money flow helps to grow nation rather than keeping it like gold in homes i m not expert on this topic but this conversation is one sided you should have invited subramanian swamy

Pl see Arth Kranti video by Anil Bokil . All your doubts and questions will be answered

Your explanation is completely wrong . Anyhow Wealthy people don't pay taxes or they pay very less tax since they have have very good CA's . The solution is that people earning less than 20 lakhs per annum should be exempted and also rich should be taxed accordingly. One more thing is that in India more than 90% people do more saving than expenditure .we believe in saving .

When you are saying there will be no equity (if IT is abolished), do you think there in equity now? Farmers pay tax for chappals, other goods even now..Swamy's suggestion is to abolish IT because only middle class pay tax. To get lost revenue he suggests auctioning natural resources and NOT tax the poor. If you want to collect more tax from rich, then re-introduce WEALTH TAX for RICH..I appreciate your other recent videos but this is a poor one !!

I don't think you both are helping us . U are just creating more confusion .

Dr. Swamy deserves a Nobel prize for economics for his thought provoking schemes and policies. Tax on expenditure would certainly go a long way to protect poor people like Ambanis and Adanis. Long way to go Dr. Swamy.

@SM-lt8yr

5 жыл бұрын

KINDLY WAKE UP FROM HYPNOSIS AND WATCH THE VIDEOS OF 'RIGHTTORECALL' GROUP ON KZread, THEY HAVE EXCELLENT VIDEO TO EXPOSE DOG DR. SWAMY.

@soonyanaidu7875

5 жыл бұрын

,,😁🤣🤣

@chandansharma3236

5 жыл бұрын

@@SM-lt8yr its sarcasm..read it carefully.

@DipakBose-bq1vv

5 жыл бұрын

Swamy does not know any economics.

Abolishing Income tax doesn't mean you don't show the source of income. That is 0% income tax; but keep it mandate to file your income details which will do away with those into illicit businesses. I'm sure it's a working model in many countries already. Also, GST is a burden as it is and why would you suggest to add anything to it. huh! :( If "Equal distribution of wealth" is the purpose of taxation; sorry that objective is not achieved with you 'Income Tax'. You think the big giants won't do anything with the big monies they have? More wealth means they would do more businesses and that translates to more job opportunities. I think there is a brighter side to 'Abolishing Income Tax' that hasn't been discussed here.

Make rich religious place pay tax And make more wealth tax for rich elite people specially when he get his father wealth

Nonsense advocates make such suggestions.

Please call dr swamy rather than assuming and speculating. Misinformed discussion is what you are getting into.

@krishnaGanesh10

5 жыл бұрын

dhrudip patel rightly said. Withput calling SS and deliberating on his policies is waste of time.

@haridevthiru

5 жыл бұрын

Swamy is a crook. It's a pity that he is advising us on nationalism.

@sachithrao6353

3 жыл бұрын

@@haridevthiru naxalite.

@haridevthiru

3 жыл бұрын

@@sachithrao6353 Please take the pain to read through Justice Jain commission report on the assassination of Rajiv Gandhi.

Educated fools... these guys are think tanks of india what a shame

Dr Swami want Tax holiday for some years. Not total abolition. This discusson is not useful. There are ways and means to address of IT tax.

You people seem to have all left wing ideas . When there will be transaction tax the amount deposited in Ambani s account will automatically be taxed .If there is limit of 2.5 Lac for transaction tax poor people would be atomatically left out. Everybody is already paying GST so nobody is left out.

So as per u a person earning two lac and a person earning twenty lac spend the same. I can say u are just jokers.

Why you people are fooling us Mr Sudhir . We are already pay a spend tax by way of GST And Mr expert the poor is already paying GST , or are you saying poor are not charged GST on their purchases ...... Stop fooling us, identifying yourself as experts !!! Since no one did it, it is foolish -- is that your logic ???? What an expert !!!! And for your knowledge taxes have been since 250 BC , from the time of Chanakya !!!!! And then how you say, it was not there 150 yrs ago !!! PSUs won't earn till you people hide scams of politicians by getting your share of the money

Eg :- Donald Trump

Sir please don't drink tea or coffee in between the interview, it looks bad

who in rss spoke of eradicating income tax? you need both=gst & i.t; bank transaction tax will be easily bypassed-- dum guy from poona got idea and shame on you to promote this.

These guys does not even know what they are talking about... lollll... what a pity, rich people don’t spend money... haha

Simply tax those with more than 12lac income

Swamy is enough alone to destroy India's economy. Even Modi is not needed.

@kalidasa_in

5 жыл бұрын

Transaction tax will create a larger shadow economy. Barter system will be incentivized.

@sanketkulkarni2390

5 жыл бұрын

lol

@DipakBose-bq1vv

5 жыл бұрын

Swamy does not know any economics.

@philipphilips2045

5 жыл бұрын

Fabulous

The ambanis spend more than 500cr... It will not only household things but on every product. I am sure they pay more than 500cr.

@SM-lt8yr

5 жыл бұрын

KINDLY WAKE UP FROM HYPNOSIS AND WATCH THE VIDEOS OF 'RIGHTTORECALL' GROUP ON KZread, THEY HAVE EXCELLENT VIDEO TO EXPOSE DOG DR. SWAMY.

@magixclub5166

5 жыл бұрын

actually its true Ambani invest his money in market and dont focus to build up wealth just to keep it in homes this is why is rich

@magixclub5166

5 жыл бұрын

@@SM-lt8yr this is just one sided conversation so you cant judge something by its cover they should have invited him to justify his part so you wake up brother

Look at United States man, they spend more than what they earn. Why rss say about income tax ?!!! Ask swamy directly he vl explain u both nicely. Seems like u both don't know about Swamy so making a funny discussion.

@magixclub5166

5 жыл бұрын

i agree with you this is just one sided conversation