Capitalism is failing us all. Could Islamic economics be the answer?

[El Sidd]

Why?

And who is 'we'? The entrenched?

we as in you and i.

the government should never become a competition nor a tool for exploitation.

 

[Verve]

we as in you and i.

the government should never become a competition nor a tool for exploitation.

We run from paying taxes, hate it, and have every argument for not paying. However we willingly pay extortionate prices for imported goods but taxes oh no no no! You think this mentality can be changed?

Maybe you are not understanding the model being proposed.

 

[El Sidd]

We run from paying taxes, hate it, and have every argument for not paying. However we willingly pay extortionate prices for imported goods but taxes oh no no no! You think this mentality can be changed?

Maybe you are not understanding the model being proposed.

Anything can be changed. One only needs an honest solution.

People do not like paying anything. Be it Zakaat or Jizya or tax or anything. Its ape fact. Animal instinct.

 

[Verve]

Anything can be changed. One only needs an honest solution.

People do not like paying anything. Be it Zakaat or Jizya or tax or anything. Its ape fact. Animal instinct.

Yeah, and mafia (and business community) is doing everything it can to escape the tax net. Remind us if we were ever a willing tax paying nation?

Take control of all their critical supplies with margin for expenses and then don't charge them any further taxes. Give their competitors the same rate and let nature take its course. Poorly managed businesses will get weeded out and new competent businesses will start without having any supply hurdles that a few monsters would normally control otherwise.

It is far easier to take over the supply and prices than collect tax!

 

[EasyNow]

You are right in the sense that it doesn't exist anymore. Historically it has existed and it was successful.

Islamic economy is based on the same principles of trade, but prohibits interest, speculative trading, and focuses on fair pricing.



What gave you the impression that zakat is or should be the only form of taxation in an Islamic economy?

The writer makes his position quite clear:

"At the same time, other taxes could be reduced or eliminated. In return for the wealth tax, Islamic economics suggests almost zero tax in every other area, including inheritance."

Add to that his trillion pound Zakat line and he is selling the same easy solution as every socialist rabble rouser: none of us will have to suffer, the rich will pay for everything.

Yes there is nothing to stop further taxation in Islam. Which is pretty much the Pakistani system - all you need to do is ban interest and charge Jizya and you will have an Islamic financial system. But is it as attractive when you put it that way?

 

[El Sidd]

Yeah, and mafia (and business community) is doing everything it can to escape the tax net. Remind us if we were ever a willing tax paying nation?

Take control of all their critical supplies with margin for expenses and then don't charge them any further taxes. Give their competitors the same rate and let nature take its course. Poorly managed businesses will get weeded out and new competent businesses will start without having any supply hurdles that a few monsters would normally control otherwise.

It is far easier to take over the supply and prices than collect tax!

so you want to replace smaller mafias with one big oil machined mafia?

 

[Verve]

so you want to replace smaller mafias with one big oil machined mafia?

Pessimistic aren't we just? Unfortunately we are not going to get any more prophets to run our systems, and directionless without control systems fail and will keep failing if we are to achieve a fair distribution of wealth.

The leaner the government setup, the less overheads. And I am only talking of the control of the first cog of the supply chain. As for food/agri produce, farmers sell all to the government and retailers/factories/exporters purchase from the government.

 

[El Sidd]

Pessimistic aren't we just? Unfortunately we are not going to get any more prophets to run our systems, and directionless without control systems fail and will keep failing if we are to achieve a fair distribution of wealth.

The leaner the government setup, the less overheads. And I am only talking of the control of the first cog of the supply chain. As for food/agri produce, farmers sell all to the government and retailers/factories/exporters purchase from the government.

How about you put your energies in practical solutions to begin with and with the tools you have.

Idealism will not lead you far nor wide.

i do not understand your constant need for holy men

 

[Verve]

How about you put your energies in practical solutions to begin with and with the tools you have.

Idealism will not lead you far nor wide.

i do not understand your constant need for holy men

This is a practical solution without holy men. You just can't see it.

Maybe the doctors at FBR will come up with better solutions, or the 27yr old BA pass CSS pass nerds/future corrupts?

 

[El Sidd]

This is a practical solution without holy men. You just can't see it.

Maybe the doctors at FBR will come up with better solutions, or the 27yr old BA pass CSS pass nerds/future corrupts?

This is just a new scheme to loot dear. I am not in the mood for playing old games with new tricks.

 

[Verve]

This is just a new scheme to loot dear. I am not in the mood for playing old games with new tricks.

What's your suggestion then? It's easy to be critical of something whilst not suggesting a model with any details whatsoever.

 

[El Sidd]

What's your suggestion then? It's easy to be critical of something whilst not suggesting a model with any details whatsoever.

declare bankruptcy. refuse to deal in interest.
rename tax as zakaat. ensure that the balance upon average person does not fall into oppression. people will stop taking arms up against you

a Pakistani is likely to give 10 rs Zakaat on 100 rs water bottle but not tax of 10 rs.

give people what they want.

 

[Fledgingwings]

It was never meant to succeed.you take the interest out from capitalism and its down flat.

 

[Verve]

declare bankruptcy. refuse to deal in interest.
rename tax as zakaat. ensure that the balance upon average person does not fall into oppression. people will stop taking arms up against you

a Pakistani is likely to give 10 rs Zakaat on 100 rs water bottle but not tax of 10 rs.

give people what they want.

so Zakaat = GST

OK then. How do you collect it?

How do you distribute wealth and resources fairly then?

 

[El Sidd]

so Zakaat = GST

OK then. How do you collect it?

How do you distribute wealth and resources fairly then?

what do you mean how you collect it? we have a working system. just because its politicized and corrupt due to mismanagement does not mean we have no tax collection at all.

fair distribution is ensured when education is the same for everyone. until that happens we must keep trying