Modi Government Is Considering Taxing Your Cash Withdrawals: Report

[Kashmiri Pandit]

exactly, and we don't want the government playing "dad" with all 1 billion + of us, right ?

man, this whole "I don't have anything to hide" is a dangerous attitude, give them an inch and they'll take a foot, government intrusion into our personal lives, always be wary of those who seek to control you, nothing good has ever happened when governments decide to run the people's lives, that is what the commies and islamists do, I don't want that type of crap in India.

Things have their Pros and Cons .

Even the best system of governance can go down the drain , if people are incapable .
On some forum people told me that , By Going Digital , A government will freeze your accounts if you go against them . or something like Greece crises where People couldn't take out their Money .

If Indian Government does that , BYE BYE FOREVER , never to come to power again .

 

[CBU-105]

Things have their Pros and Cons .

Even the best system of governance can go down the drain , if people are incapable .
On some forum people told me that , By Going Digital , A government will freeze your accounts if you go against them . or something like Greece crises where People couldn't take out their Money .

If Indian Government does that , BYE BYE FOREVER , never to come to power again .
View attachment 368643

more cons than pros here as far as I can tell.

 

[Kashmiri Pandit]

more cons than pros here as far as I can tell.

I don't know . Its working fine in many countries .
How well it go in India , Only time will tell .

 

[Soumitra]

exactly, and we don't want the government playing "dad" with all 1 billion + of us, right ?

man, this whole "I don't have anything to hide" is a dangerous attitude, give them an inch and they'll take a foot, government intrusion into our personal lives, always be wary of those who seek to control you, nothing good has ever happened when governments decide to run the people's lives, that is what the commies and islamists do, I don't want that type of crap in India.

Nobody is taking a foot. More transperancy alway benefits. somethimes because of the circumstances you have to make some sacrifices for the greater good. Because of rise of terrorism you have to be subjected to extra security checks. you and I are not carrying bombs but we have to let the authorities intrude on the private space for greater safety

If the cash components start to fall then it will lead to better tax compliance, lesser prices (for example property prices). More taxes will lead to better services

We need to expand the tax base and GST, DeMo and Banking Transaction Tax are part of this endeavour

 

[duhastmish]

India is not sweden. This govt is full of idiots. The whole economy is going to be frrked.

I dont know what was the problem when india was growing faster than any other country. It seems like they want to ruin it and get gdp to lowest possible level.

And slackerz are supporting it because they are bhooka nanga. Nothing to loose. What about the hands that earn and feex these cockroaches and pests.

Somthing is fishy with all that is happening.

 

[CBU-105]

I don't know . Its working fine in many countries .
How well it go in India , Only time will tell .

in the urban centers, sure, but we run on cash out in the country, the rural poor have suffered and they don't have a voice, or options to go digital like the big city folk.

and what are these other countries you speak of, the Scandinavian ones ? all extremely advanced economies and tiny (compared to here) populations ?

it'll be back to normal once we go back to full solvency, the sooner, the better imo

 

[Kashmiri Pandit]

in the urban centers, sure, but we run on cash out in the country, the rural poor have suffered and they don't have a voice, or options to go digital like the big city folk.

and what are these other countries you speak of, the Scandinavian ones ? all extremely advanced economies and tiny (compared to here) populations ?

it'll be back to normal once we go back to full solvency, the sooner, the better imo

Yup I agree on that .
The Rich and Middle class should aim to reach 51 % Digital Transactions in year or 2 .
Villages if possible can be allowed to deal in Cash for small transactions .
Force the poor and informal sector into Digital World . Incentives here too . This way lot of new account holders will enter Banking system .

Tax High cash Transactions like Buying Car , Flats , Lands etc
Incentives on Digital transactions for same stuff .

 

[911]

Bad times for property dealers.

 

[duhastmish]

Look at all the fastest growing economy except for kenya everyone is cash run.
Kenya has lot of foreign investment and big mnc. Their own people are slave and poor. I dont consider their growth positive.

Cash is good. Cash is safe.
Being oversmart can make yoy loom like nothing but a little crazy monkey.

 

[Roybot]

India is not sweden. This govt is full of idiots. The whole economy is going to be frrked.

I dont know what was the problem when india was growing faster than any other country. It seems like they want to ruin it and get gdp to lowest possible level.

And slackerz are supporting it because they are bhooka nanga. Nothing to loose. What about the hands that earn and feex these cockroaches and pests.

Somthing is fishy with all that is happening.

Something tells me you lost a lot of money in this demonetization

 

[Soumitra]

India is not sweden. This govt is full of idiots. The whole economy is going to be frrked.

I dont know what was the problem when india was growing faster than any other country. It seems like they want to ruin it and get gdp to lowest possible level.

And slackerz are supporting it because they are bhooka nanga. Nothing to loose. What about the hands that earn and feex these cockroaches and pests.

Somthing is fishy with all that is happening.

Are you calling the urban Middle Class - the core BJP supporters who are also supporting Demonetization as Bhookha Nanga?

The poor are supporting DeMo, the Middle Class is supporting DeMo. the JNU jholawallah Types "Intellectuals" are opposing it. so please be careful of the words you choose

 

[duhastmish]

Yup I agree on that .
The Rich and Middle class should aim to reach 51 % Digital Transactions in year or 2 .
Villages if possible can be allowed to deal in Cash for small transactions .
Force the poor and informal sector into Digital World . Incentives here too . This way lot of new account holders will enter Banking system .

Tax High cash Transactions like Buying Car , Flats , Lands etc
Incentives on Digital transactions for same stuff .

You guys sound like nazi. I foresee an indian end just like gaddafi or hitler or saddam.
The words you use force make them do it make them pay enough time given.

Who the fuuck are you to tell me how to use my money. Govt can take the tax and carry on. Either they pay me a million $and tell me what to do. Its not their money its earned.

 

[CBU-105]

Nobody is taking a foot. More transperancy alway benefits. somethimes because of the circumstances you have to make some sacrifices for the greater good. Because of rise of terrorism you have to be subjected to extra security checks. you and I are not carrying bombs but we have to let the authorities intrude on the private space for greater safety

If the cash components start to fall then it will lead to better tax compliance, lesser prices (for example property prices). More taxes will lead to better services

We need to expand the tax base and GST, DeMo and Banking Transaction Tax are part of this endeavour

I have an open mind, I do think the initial reasoning behind it was well intentioned but it's still a slippery slide to the bottom, and the execution was terrible.

I'm also not a fan of being patted down when entering a KFC, at the airports I understand somewhat and can deal with it but I still don't like it.

I'm hopeful that within these next 2 decades, as the middle/upper middle class grows, we'll have some some sort of a libertarian style movement here, not likely, but I hope more people wake up to the evil that is totalitarian government diktats/fatwas such as this and push back anyway.

 

[Soumitra]

You guys sound like nazi. I foresee an indian end just like gaddafi or hitler or saddam.
The words you use force make them do it make them pay enough time given.

Who the fuuck are you to tell me how to use my money. Govt can take the tax and carry on. Either they pay me a million $and tell me what to do. Its not their money its earned.

You can use your money however you like. You want to extensively use cash do it just pay little bit transaction tax

 

[duhastmish]

Are you calling the urban Middle Class - the core BJP supporters who are also supporting Demonetization as Bhookha Nanga?

The poor are supporting DeMo, the Middle Class is supporting DeMo. the JNU jholawallah Types "Intellectuals" are opposing it. so please be careful of the words you choose

I say go to hell. The poor can die in ganga just like today and middle class can run for bread in local train and rich die of diabetes or heard attack.
Its my money nobody can tell me how to use it. Govt can only charge tax. And you and your nazi govt will die when american will get here with nato forces to give you freedom.

Intolerant nationalist religious fanatic and disruptive govt wont ve there to save you. When in 10 years your kids will be dying with bombs from sky to get them freedom.

The path that is choosen is sickening and with grave result.