The article originally appeared on PGurus.com
Some highlights:
1) The article is an attempt to debunk the idea that indirect taxes are unfair and regressive. A case is made both on a matter of principle and on a matter of a mathematical construct.
2) The article focuses on the taxes from a lens of prosperity and consumption and not merely the annual income.
3) The article lays a foundation for making a case to abolish individual income tax as it pertains to India by providing a comparative study of individual income taxes across 5 major economies.
4) In conclusion, the article provides a few alternatives to make up for the loss in revenue which come as a result abolishing individual income tax.
Some highlights:
1) The article is an attempt to debunk the idea that indirect taxes are unfair and regressive. A case is made both on a matter of principle and on a matter of a mathematical construct.
2) The article focuses on the taxes from a lens of prosperity and consumption and not merely the annual income.
3) The article lays a foundation for making a case to abolish individual income tax as it pertains to India by providing a comparative study of individual income taxes across 5 major economies.
4) In conclusion, the article provides a few alternatives to make up for the loss in revenue which come as a result abolishing individual income tax.
