Who pays the highest amount of tax in the country? Mr. Ambani? or Mr. Narayanamurthy? Well neither.
Let us see the life history of a typical government or a bank employee.
They join for service after a competitive exam – after that they are happy to hold on to that job for life. They earn money, pay taxes and keep the money in a bank / government scheme. For the next 30 years or even greater.
At the highest slab they pay 30% tax. Like all of us.
However since their money is in bank fixed deposit, the government rips them off (like it rips off the senior citizens) by printing notes. Inflation kills their money. They earn 8% p.a on their fixed deposits and on this they pay 30% tax (Tds from banks forces them to pay tax you see!). That in a country where inflation on an average is always at about 10-12% for the aspiring middle class. So over a long term their PF contribution (which is so crucial for running the government) and their bank deposits (14 lakh crores) are all helping the Suresh kalmadis run the CWG.
Then this person retires and all his money is again in bank fixed deposits….so the game continues. If somebody did a study of the total salaries paid to the government employees, the tax deducted and their capital (adjusted for inflation) you will see this class as the MOST TAXED class of people…L O L.
Then they teach their children “All private companies are bad. You will have to please your boss even if you are good in your work..and he / she can throw you out …because of your bosses fancy…” so please write our office exam, I will ensure that you get a good posting….and history repeats itself”.
Conspiracy of the Rich…Mr. Kiyosaki would say.
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