Ahhhh . Now let's see how many educated salaried tax peyer compare India 's tax with US tax
This is actually good for the common people. Corporates getting taxed is better than employees getting taxed
India also discussions going on for DTC (read slab rate tax for stock gains i.e. upto 39%)
Sad reality is, India as non corporatised country can't have higher corporate tax as than Individual tax, they've to be incentivised to run factories, make products, while the masses are incentivised by religion or fear.
Just for info - this unrealised gains tax is applicable for people with $100million worth of assests or more. Not for the ones below. The working class doesn't have to pay this. This is for the ultra rich.
This is one of the many reasons why the rich corporate CEOs are all against Biden administration.
That's how it begins. Read what Elizabeth Warren has said and is thinking - she wants it to be $50M actually.
The language also suggests it will be expanded later on to include more people, so morons who think it only affects rich people don't know what kind of steel beam they're ready to take in.
Unrealised gains is so damn stupid
Nirmala Sitaraman of the west
Nirmala tai ki behen hogi shayad