Calling a spade a spade; Is Capital Value Tax the new wealth tax?

In the hot haste of collecting more taxes, did the government do a mix up?

“Tax the rich” has always been a popular political slogan that resonates with a lot of people. And why shouldn’t it? The rich have an excess of money available, tax them and put the money to good use. 

It’s not long before this thought leads one into a utopian realm of equity, of a society where the economic system offers the same facilities to both rich and poor. Everyone has enough, everyone is happy. But this thought cannot germinate for long.

 

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Shahnawaz Ali
Shahnawaz Ali
The author is a Finance journalist at Profit and can be reached via email at [email protected] and via twitter @shahnawaz_ali1

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