No tax relief for salaried class. What are your thoughts on the overall budget? What reforms were you awaiting or what do you think are absolutely necessary to uplift the middle/ below middle class of the country?
As long as we have large scale socialist and welfare programs, I believe we'll have ever growing taxation till we reach EU standards.
This is a bipartisan problem, btw. Everyone is introducing and promising big socialist programs. I wouldn't comment on whether it's good or bad to have such programs for our economy or country - I'm not knowledgeable enough for that.
But I think that taxes will stay high as long as we need to support such programs.
Isn't wealth concentration and the ever growing income inequality a bigger problem in the country? Top 1% owning more than 40% of assets is sustainable? Are these schemes a soft target?
I think that's a strawman argument and not related to why taxes are kept high. My point was that taxes are kept high to fund these socialist initiatives and they aren't going anywhere.
Whether taxes might be reduced by targeting wealth concentration or not - I don’t know if it would succeed. I do believe we should tax the wealthy even more but I don't have a PoV on if it would work. We're dealing with a wealth exodus problem at the same time due to rich people leaving so it might need an ingenious tax scheme implementation.
There will never be tax cuts for the middle class. It will keep increasing till we reach Europe level taxation.
In fact people with high salaries are already paying close to Europe level taxes
There is a lot of support I see from a few people as to how there is alternate for the government apart from taxation. Is it only a select few who don't really mind paying such high taxes? Or is it concerning for you all?
no alternate*
Outgoing govts cannot bring in major reforms in the last budget. Interim budgets will be like this only. After re-election, when the new budget is placed is when major reforms/measures will be proposed.
Well, there were enough non interim budgets in the past that provided little to no relief to the middle class. I'm glad that you're optimistic about reforms in mid 2024.
I agree with you. Non interims have also been let down for salaried classes. I was just stating the administrative practice in the interim.
Leaving country when I will get opportunity
There was a time when i rejected offer from Berlin. Once this Ukraine and gaza war is over, i will rethink
Agriculture needs to be taxed at 20% or higher, for atleast farms > 10 acres. It’s absolutely preposterous how ridiculously rich farmers get away with paying nothing
Drop your thoughts about ongoing announcement from Budget.
Drop an announcement and underneath people will add their thoughts
