How many of you think Blank money is bad ? Ok I think almost every one thinks it is bad and main reason for it is lack of honesty etc. Now think about the % of tax you honestly pay. I don't think any of us ready to pay even 50% of our income . I shocked when I first heard that in 1970's corporate tax is as high as 93.5% on the income + 8% tax on wealth of individuals (http://www.unescap.org/drpad/publication/journal_7_2/rao.pdf) How can a person who is taking all the risk(considering the fact that 90% the businesses fail in first year of operation and 90% of the survivors fail within 5years of operation) and building a business will pay that tax. The reason for Indians having huge black money in swiss bank is the effect that we were the stupidest country for 30-40 years. After learning this my admiration towards tata's and godrej's who built their business honestly even in that kind of environment got multiplied.
If you read Ayn rand books you will understand that the concept of income tax itself is immoral. The Basic function of income tax is taking money from competent people by force and distributing it to the non-competent. Govt can reduce prices of almost everything by 30%(which is collected as tax) by simply removing the Income tax on those goods. Capitalism by Ayn rand a very interesting book , which will explain proper function of Govt. and the principles of laissez faire capitalisam etc.(http://www.aynrand.org/site/PageServer?pagename=reg_ar_capitalism)
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