silverscorpion
How then will the government function? How will it meet its expenses?
See, Government is a regulatory body. In my opinion, it should not be entrusted with money. Its work is to
guide various developmental projects and hence to
just direct the flow of money in the market.
PLUS Government also does business. There are so many public sector companies like LIC, BSNL, BHEL etc. The profits form this organisation should be made available for meeting expenses of Government.
Naturally if Government wants more money, it will lead to beneficial beneficial things-
1.
Profit has to be earned: It will stop the money laundering goof up because the collection of tax will stop. If itGovernment wants more money, more profit has to be ACTUALLY EARNED
not showed on paper.
2.
Efficient system: If it earns more profit, then naturally Government offices have to become more efficient hence making whole system efficient.
3.
Clarity and transparency: If tax stops, there won't be any necessity for citizens to keep money in black. All flow will be through nationalize banks and everything will be clear and transparent.
4.
Better standard of living: It will lead to better standard of living because that 30% of money which you are giving to Government and it is leading to scams will stop. PLUS you will save your time in calculating your yearly bills to submit to CA and can concentrate on your work.
Kautilya's Arthashastra is an authority on tax collection and money management system for state and individual. If you read it, then you will find that the above points are mentioned there. Rather I am putting these point keeping Kautilya's Arthashastra as a reference.
There are many more points but still beyond the scope of this thread. I will be happy to hear your opinion. 😀