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Mr. Pitroda emphasized that wealth distribution is solely a matter of policy, expressing concern about Prime Minister Narendra Modi’s comments on the Congress manifesto.
Wealth Redistribution and Inheritance Tax Advocacy in India
Sam Pitroda, the Chairman of Indian Overseas Congress, supports the party’s stance on redistributing wealth and suggests implementing an inheritance tax law in India. He highlights the importance of policies for wealth redistribution and explains the concept of inheritance tax used in the U.S. Pitroda notes that in the U.S., when someone worth $100 million passes away, only 45% of their wealth can be passed on to their children, with the remaining 55% going to the government. He finds this law interesting, suggesting that it’s fair for individuals to leave a portion of their wealth to the public, not all of it, when they pass on.
“In India, when a person worth $10 billion passes away, their children inherit the entire sum, leaving nothing for the public. These are the topics that need discussion. Redistributing wealth means implementing policies and programs that benefit everyone, not just the super-rich.”
Worried about the Prime Minister’s intelligence.
Mr. Pitroda emphasized that wealth distribution is primarily a matter of policy. He expressed concern about Prime Minister Narendra Modi’s comments on the Congress manifesto. He stated, “This is about policy. The Congress party aims to establish policies to enhance wealth distribution. Currently, India lacks a minimum wage. Introducing one would contribute to wealth distribution by ensuring fair pay to the less privileged. Currently, affluent individuals often underspend on wages for their staff, instead opting to spend extravagantly on vacations abroad. When discussing wealth distribution, it’s not simply about deciding to distribute money from a position of wealth.”‘
“He thinks like that? The Prime Minister? I’m worried about his thinking,” he remarked when asked about the Prime Minister’s criticism of the Congress manifesto.
Prime Minister Modi and the BJP criticized the Congress manifesto, claiming it promotes appeasement and proposes wealth redistribution, including reservations for Muslims alongside existing quotas for SC, ST, and OBC communities.
Mr. Pitroda expressed disappointment with Mr. Modi’s comparison of the Congress manifesto to the ‘Muslim League’. He called the Prime Minister a ‘pathological liar’ and felt ashamed of him.
“I feel sorry for them, I am amazed that they would talk like this. It is a lie. This manifesto has nothing to do with the Muslim League. I am ashamed of my Prime Minister. His team is lying about the manifesto. He is a pathological liar. How can they lie through their teeth and feel comfortable,” Mr. Pitroda told ANI.
Mr. Pitroda criticized the Prime Minister for his recent remarks on ‘those who have more children’, stating that fear has gripped the BJP after the initial phase of polls, leading to such comments. “How can you insult our women… Muslims really don’t have more children. He (PM Modi) can say whatever he likes, he also has a moral responsibility. He is not above the law. It looks like you can’t comprehend, I think it is maybe due to fear, panic has been set in after the first phase. India is angry at the PM’s comment,” he said.
