Comments on: Guest Post: An Exercise in Damage Assessment

By: Galicula

Galicula — Fri, 01 Aug 2008 00:03:12 +0000

Dslexic says we do not need Income tax and user should pay for service.
If there is no tax than how would the goverment subsidise things like petrol,court system,Public transport etc.

If all those services need to run on no-loss policy (Or private ownership),then Indians would be paying a lot more on road tolls,bus fairs,petrol,legal system,water rates,drinange services.

I agree with Dslexic that privatisation of many services would help increase quality of service,however we have a lot of people who cannot afford private service or unsubsidized service.

The answer to this is a balanced sysytem,where a lot of people who don not pay tax has to be brought to tax net and also a lot of services must be privatised with goverment montitoring priceing.

I understand the frustration of tax payer:

1.They dont get value for their tax in form of service.
2.A lot of their tax money is wasted on unsound spending decisions.
3.Large portion of tax payers money are lining the pockets of corput politician and Buracrats.

but what is even more frustrating is some middle class worker earning Rs 30,000 a month pays tax,but a business man or polotician who earns lakhs of rupees a month does not pay a cent in tax.

Educated people like Dsylexic should increase awarness among indian people to question the goverments.I am trying for tax payers awareness program.

We need transperancy on goverment expenditure at every level and we need debate on Goverment spending.
Currently all levels of goverment is unchalanged on how they spend tax payers funds.

By: Dsylexic

Dsylexic — Thu, 31 Jul 2008 09:01:18 +0000

“If most people paid income tax we do not need indirect tax like sales tax,ET,LT etc.”

Nonsense – Income tax is a draconian socialist/colonial concept which assumes that the state OWNS your income and it can decide what part of your income you get to keep.
The US didnt even have income taxes till 1913 (not so surprisingly the Fed too made its appearance in 1913).

User pays is “consumption” tax. which is ok. Except that it should not go to the goverment -it should go to the entrepreneur who is providing the service.Few innovative tarrifs should be good enough to take care of the defense needs. Its shameful that we have a monstrous government looming large over our daily lives.

By: galicula

galicula — Thu, 10 Jul 2008 06:01:59 +0000

I disagree with Ram K.

The problem is Indian people are greedy and do not want to pay tax.
They are not used to the culture of tax.
Let us face it India has low income tax rates compared to many countries.

What is the percentage of tax assesees we have in this country of 1 billion may be 0.01%.
If people dont pay tax how is the goverment expected to build roads,schools,hospitals etc.
The person who doesnot pay tax doe not have right to complain.

India is still a thirdworld country because the wealthy do not pay tax.

If most people paid income tax we do not need indirect tax like sales tax,ET,LT etc.

Indian should understand “USER PAYS” If you or your fellow citizens use the road,bus,train,police,court,hospital,universities,Army protection against Pakistan then you need to pay tax on your income.

Change your attitude for the future your kids and grand kids.

By: What brought down the market « ???????? per diem !!!!!!!!!!

What brought down the market « ???????? per diem !!!!!!!!!! — Fri, 04 Jul 2008 05:42:08 +0000

[...] his opinions on how Global Market trends towards Decoupling have led to the Asian Market setback, in this article The key here is that it would be a mistake to argue that high commodity prices are the only reason [...]

By: Deepak Sahijwala

Deepak Sahijwala — Wed, 02 Jul 2008 07:53:34 +0000

The actual problem with India is that we have a “Tax Greedy” government.
And unless that is not brought under order, the parallel economy(black money)will dash all hopes of our prosperity dreams.

By: Ram K

Ram K — Mon, 30 Jun 2008 17:25:35 +0000

Value of assets measured on what scale? Reality is value of assets don’t change, it is the measuring scale that keep changing….. or purchasing power of paper currency backed by “nothing” is falling, how long can we sustain a blatant scam……

The day Indian Farmers stop accepting paper currency in exchange for food grains India will be back on a path to prosperity.

By: Prabhu

Prabhu — Sun, 29 Jun 2008 02:59:23 +0000

The sustainability in the speculation of oil prices is mainly due to the higher valuations given to the emerging markets across the globe and the growth anticipations that were created a year ago. If the pace of growth expected in emerging markets are real, then there is no problem for oil to sustain the speculation it is seeing.

By: Harishchandra Sharma

Harishchandra Sharma — Sat, 28 Jun 2008 05:56:07 +0000

listen to boone pickens.There is no speculation in oil market. In futures market there is a seller for every buyer. At expiry of current month futures, all long and short positions must be squared ie. at the day of expiry we will find real value of oil.. there is spot buyer at 137 dollars. yesterday spot price If we think oil is in speculation

By: satish

satish — Wed, 25 Jun 2008 03:37:45 +0000

OC-
listen to boone pickens. 85 mbd of supply and 87 mbd of demand. There is no speculation in oil market. In futures market there is a seller for every buyer. At expiry of current month futures, all long and short positions must be squared ie. at the day of expiry we will find real value of oil. at last expiry oil price was 135.7 d/b. there is spot buyer at 137 dollars. yesterday spot prices was 137 d/b.

If we think oil is in speculation why not saudi aramco issue sell contracts in future market if they are not afraid of delivery default.
yesterday iron ore prices for bao steel was raised by rio tinto by 95%.
Dont you think iron ore price is in speculation if you think oil is in speculation. prices are determined by demand and supply for non tangible commodity.

your intentions are quite wrong . After current price level oil is no
essential commodity, it is a luxury. IT is this complacency that caused the price rise. people has decided comsuming oil is a birth right.

By: oommen cherian

oommen cherian — Tue, 24 Jun 2008 12:22:10 +0000

Do you think that the oil price is entirely determined by physical supply and demand. How it is affected by speculative market especially future market. These are some of the often asked questions. This once again compels one to think of planing models of development. To do away with capitalistic direction of markets for very essential commodities.