Warren Buffet has kicked up a storm by commenting that the super rich in the US need to be taxed more and as a means of example he said that he paid 17% of his income as taxes whereas the people he employed paid in excess of 30%.
One needs to understand that taxes are a means of incentivising business. Thats why Capital Gains taxes are lower than other forms of taxes. Also incentives for exports are given in countries with net forex outflows (like India).
The issues that need to be discussed is the abuse of these lower taxes (or nil taxes) and how corporations have set up tax free contracts. Just plugging these loopholes and reigning in Government expenditure would be more than enough.
Of course taxing the rich at higher slabs will not hurt BUT do you want to be branded a socialist in capitalist america?
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Buffet is eco-logical. He knows there are no free buffe's. He is one of the fortunate few close to seeing that currency as the Final commodity is an illusion created by the karma called 'delayed response'. When Ramana Maharshi was questioned by court as to why he accepted and distributed food, and even allowed build up of property, while he refused to take currency.
ReplyDeleteHis reply?
"I can't eat money".
The Brain might experience the false comfort of getting away with the cream of pleasure, short-changing the rest of the body often to the "latter's" disadvantage. But is this true?
It may drive "it's" feet over to those companionships where cravings in the Brain are satisfied.
It is a fact that this 'my' copy-right-to-best-bidder regime often lead to the manifestation, almost always delayed, [except in providential plate-shifts] of ill-health.
Good news is...we're all in the same boat sharing the same floor. So simple...just don't makes holes 'there'.
For there is no 'there' !
Hear ! Here!
J Jayaraman
SriRamanaMaharshi.org