Islamic economic system

[ashok321]

Islamic economic system

Hmmm..

Riba is haram in islamic jurisprudence.......And how many years have been passed since Pakistan (and many other Islamic countries) has been dealing with Interest (IMF-WB-ADB) ???
There is no practical solution to eliminate Riba.
Even Pakistan supreme court gave up.....

Sorry!
7th century stale codes collide with modernity......it wont work.

 

[Secret Service]

Right.

Now back to the question; how does it generate the money?

Islamic system has Saving Tax but dont have Income tax....its advantage is equal distribution of money among people...so,not a large gap of money between rich and poor...!

 

[mikkix]

It's a very simple yet vicious circle.

You want to tax only the rich but the rich will not exist without those taxes.

Classic chicken-egg situation.

---------- Post added at 02:45 AM ---------- Previous post was at 02:44 AM ----------



Let's talk economics, mate.

How do you generate the money?

who told you that money can only generated through taxes only???
govt can do partnerships with organizations and investments, through their investments they can generates income and invest it more.
its not very simple, yes i agreed, but the work is started to develop the islamic model practically, because the problem is we muslims forget the system practically due to lack of islamic education and implementation since centuries.

 

[CaptainJackSparrow]

Islamic system has Saving Tax but dont have Income tax....its advantage is equal distribution of money among people...so,not a large gap of money between rich and poor...!

What is saving tax and how will it make up for the huuuuuge revenue loss by not collecting income tax?

At most what you can do is this:

Earlier u used to take income tax @ X %.

Now you take saving tax @ X %.

Only the name changes, the %age remains the same for any drop in %age results in loss of revenue.

Old wine in new bottle.

 

[Secret Service]

Islamic economic system

Hmmm..

Riba is haram in islamic jurisprudence.......And how many years have been passed since Pakistan (and many other Islamic countries) has been dealing with Interest (IMF-WB-ADB) ???
There is no practical solution to eliminate Riba.
Even Pakistan supreme court gave up.....

Sorry!
7th century stale codes collide with modernity......it wont work.

there is solution to eliminate riba...But for that we first have to eliminate Paper and electronic Money system....And replace it with Gold and Silver backed economy......!

 

[ashok321]

there is solution to eliminate riba...But for that we first have to eliminate Paper and electronic Money system....And replace it with Gold and Silver backed economy......!

Which country has it...

 

[mikkix]

Islamic economic system

Hmmm..

Riba is haram in islamic jurisprudence.......And how many years have been passed since Pakistan (and many other Islamic countries) has been dealing with Interest (IMF-WB-ADB) ???
There is no practical solution to eliminate Riba.
Even Pakistan supreme court gave up.....

Sorry!
7th century stale codes collide with modernity......it wont work.

do you know the collapse of western banks recently???
it is mainly due to the riba system and loan...
the modern system is failed.
Western universities started researches and education on Islamic economic system....

 

[CaptainJackSparrow]

who told you that money can only generated through taxes only???
govt can do partnerships with organizations and investments, through their investments they can generates income and invest it more.
its not very simple, yes i agreed, but the work is started to develop the islamic model practically, because the problem is we muslims forget the system practically due to lack of islamic education and implementation since centuries.

What is there in this which you guys aren't doing already?

What you're saying can, at best, act as complement to income tax and not as a replacement.

 

[CaptainJackSparrow]

there is solution to eliminate riba...But for that we first have to eliminate Paper and electronic Money system....And replace it with Gold and Silver backed economy......!

I'd prefer being robbed of my wallet full of credit cards to being robbed of my wallet full of gold coins.

At least I can block the credit cards on phone.

 

[ashok321]

do you know the collapse of western banks recently???
it is mainly due to the riba system and loan...
the modern system is failed.
Western universities started researches and education on Islamic economic system....

There are 3000 banks world wide, how many got collapsed % wise ???

 

[mikkix]

What is saving tax and how will it make up for the huuuuuge revenue loss by not collecting income tax?

At most what you can do is this:

Earlier u used to take income tax @ X %.

Now you take saving tax @ X %.

Only the name changes, the %age remains the same for any drop in %age results in loss of revenue.

Old wine in new bottle.

may be you are more genious than us,
if you do your research on islamic economic system personnally you may get better educated than us.
i can assure you will find it differently from others.

 

[Secret Service]

Which country has it...

nowhere in world...

 

[CaptainJackSparrow]

may be you are more genious than us,
if you do your research on islamic economic system personnally you may get better educated than us.
i can assure you will find it differently from others.

I'm nothing, mate. I'm asking simple questions based on common sense.

 

[ashok321]

nowhere in world...

So why give such outrageous examples ??

 

[mikkix]

There are 3000 banks world wide, how many got collapsed % wise ???

dude here you are,
only few ones were collapsed an we have seen the collapses of world market like a bunch of cards.
now think if this problem arises in all banks then what will happen.