The problem is with the notion that "taxing the rich" is the solution to all problems, IT laws already tax rich @30.90% plus there is a 12.5% service tax on most things rich people spend upon. How much you want to increase it, 50%, 80%, 100%? And what you provide in return? Foreign countries at least provide decent social security. Increase in tax will result into more tax evasion, people will spent more on CAs to evade tax.
The solution to increase tax collection is better monitoring of financial system, so that tax evasion becomes very difficult, I know how to do it, most people associated with finance industry know, but AAP said nothing on those lines.
They are not the first, many before them have done it and recovered the cost later, and that is the cause of major concern, certainly they won't go homeless.
