India should tax capital income, not wealth or inheritance: Economist Daniel Waldenstrom
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Economist Daniel Waldenstrom said on Saturday that India should tax capital income instead of wealth or inheritance.
- ✓He argued that taxing profits and dividends helps address inequality without hurting investment.
- ✓"I think it's important that we tax capital, of course, as we also tax labour," Waldenstrom told ANI on Saturday.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
India should focus on taxing capital income, such as corporate profits and dividends, to address inequality. Economist Daniel Waldenstrom supports taxing capital income rather than imposing wealth or inheritance taxes. He suggests that high taxes may discourage saving and investment, which is crucial for economic growth. Broader access to education and a stronger pension system can help include more people in economic gains.
New Delhi: India should focus on taxing capital income such as corporate profits, dividends and realised capital gains rather than imposing taxes on wealth or inheritance, economist Daniel Waldenstrom said, arguing that such an approach would allow the country to address inequality without creating excessive hurdles to investment and savings.
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The Economic Times
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