We are only conducting Seminars to make Professional Traders. Join Now for Hyderabad and Chennai Seminar.

Warren Buffett Tax the Rich Scheme Implication in India

warren BuffettThis is a real generosity where Warren Buffett wrote to US govt that people like him should be taxed more and this special tax can be called as "Buffett Tax" and it basically targets the rich people like him often pay less in tax than those who work for them due to loopholes in the tax code, and can afford to pay more.

Now things are going to change as President Barack Obama will propose a “Buffett Tax” on people making more than $1 million a year as part of his deficit recommendations to Congress. Such a proposal, among suggestions to a congressional Super Committee expected to seek up to $3 trillion in deficit savings over 10 years, would appeal to his Democratic base ahead of the 2012 election but likely not raise much in revenues. White House Communications Director Dan Pfeiffer said in a tweet on Saturday the tax would act as “a kind of AMT” (Alternative Minimum Tax) aimed at ensuring millionaires pay at least as much tax as middle-class families.

Can India Impose Such a Tax
Now comes the turn of India to consider a tax on similar lines and we see that it will meet a stiff resistance. The sentiments are expressed by Ms Kiran Mazumdar Shaw Head of Biocon who has a different opinion and feels that Indians are already being taxed as per their income levels. As a result, people in the higher income brackets are paying anywhere between 30% to 50% of their income in the form of taxes. Things are very different in Europe where tax shelters help the rich in paying minimal amounts of tax. Plus, the countries there need larger funds to be able to invest in the countries' growth. This is not the case in India. The problem in India is not the quantum of funds raised through taxes. It is the appropriation of these funds. Most of the funds are siphoned into populist policies. A large part is lost to poor governance. The government needs reforms to correct these issues. Not to torture the people by raising tax rates.

Conclusion
Hats off to Warren Buffett for giving such a idea where he is an end loser but he is thinking off the organisation in the larger interest and at times after reaching a particular stage in life, one derives more pleasure by giving rather than receiving.

Most Visited Stocks - Click to Visit Link

SEE WHAT OUR SUBSCRIBERS SAY !!

"First off all, I just want to say that your service is excellent – by far the best tips service I have encountered and quality of your Jackpot tips is really good and noticed that now I am getting daily profit. I can say that it makes a difference to choose the correct tips provider and it was my luck that I stumbled on your website."

- Rajesh

WELCOME TO SMART INVESTOR FAMILY

We Compliment you for becoming a part of mega family of more than 12 Lakh Smart Traders who are getting benefitted with our services worldwide. We assure You that we will deliver more than what we promise. Do remember to leave questions and Feedback. Your Success is Guaranteed with us!

You can Contact us through Contact Box provided on website or You can call us at 09041060460 or Email at info@indian-share-tips.com. You can make Online Payment through Payment Gateway installed on the website as we offer you the highest standard of security currently available on the Net so as to ensure that your online transaction is Private, Safe and Secure.

 
We Teach and Train our Clients First Before Joining as we want to make sure that clients trade in market as a thorough professional. Charges if any being paid by you are for the teaching and training and Trade Ideas given are provided free with the teaching and training and we do not charge any amount for it. If you can not join the seminar; you can learn from us via mobile and email. Your Joining with us is purely for educational purpose. Your joining is subject to acceptance of our terms and Disclaimer for which link is given on the site at bottom right hand corner. Wherever the word tip is written; it implies an idea which is of informational value and is not suitable for trading. We are conducting Seminars to make Professional Traders. Join Now for Bangalore, Chennai and Hyderabad Seminar. Call Now at 09358493584.
Chart> Nifty A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9