DailyPost 2945
HAVE TAXES BECOME NON-PERFORMING ASSETS?
If this question has not been nagging you for quite sometime, then either you are struggling with your existence or you belong to the super rich where nothing bothers. There is an ecosystem for the latter, the former have left their life to destiny, free rations and freebies. The newly evolving social contact is between the freebies and the votes. For the rest of the population paying taxes has become their fate. We hear of tall claims (rather reality) of the ever growing income tax net and collections increasing by leaps and bounds and GST collection breaking the glass ceiling, every now and then.
Are taxes a historical payment to be made by the citizens to the government as a matter of its right, at rates decided by them. Given our income and purchasing power we might be the most taxed in the world, starting financially and then physically (medically) and mentally. The other freaky issue which never comes to anyone’s attention is that you can be taxed on the same earnings over and over again. It generally starts with income tax, then GST, toll, cess and goes on and on. Sometimes you get a feeling that you are earning for the governments, for them to live in style and afford any idiosyncrasy they can imagine, while you keep slogging to make both ends meet.
What are taxes supposed to deliver? The revenue receipts and the projects, utilities and services are to be matched in the best possible manner and delivered sustainably and qualitatively. Bare minimum needs to be assured, otherwise pay for what. That said, principles of financial administration of this country remain unknown to the country. How and why projects are started and the wide gap between thought processes of governments on spending / sectors will never be known in our democratic ecosystem. Spending taxpayers money on freebies / guarantees while declaring themselves as super Santa Claus, with state finances crumbling, can neither be called financial propriety or welfarism.
Total financial mismanagement apart, the existential question is what does taxes ensure to its payers / people? Nothing seems to be the answer. The potholes of Bangalore are fit enough to become a Hollywood white lie thriller. If that doesn’t seem to be enough, then once it rains, the city floods and you are left to your own fate. On the other hand you have to run from pillar to post to get anything done, what you are due, from any government agency. Leaving lesser citizenry aside, Delhi’s super citizenry is provided with air pollution levels, year after year, which can cut years out of your life, living in the man made gas chamber. The floods on Mumbai roads is a common sight every monsoon, having a corporation flush with funds. The tale of woes of rural India, the less said the better. The question is whether all this happens after the government makes the most sincere efforts to provide the best to the people or otherwise. The answer is a capital ‘NO’ that can be etched in stone for posterity. The priorities are somewhere else.
WHILE THE BANKS NPAs GET WRITTEN OFF FOR THE CORPORATES , OUR TAXES GETS TRANSFORMED INTO NEW NON-PERFORMING ASSETS!
Sanjay Sahay
Have a nice evening.