National income
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by Prasad H
In the past month we had two main policy decisions overturned.
One was the proposal to increase Income Tax from 1% to 12% made by jammywillis.
The other one regarding increase in Minimum Wage from 0.82 INR to 10 INR
proposed by deadley21.
On noticing this I thought a combined modified proposal to change the minimum wage from present 0.82 INR to if not 10 atleast 5 INR and increasing our IT% from current 1% to 10% will go in a long way to increase our treasury.
Here is a study of economies of three countries. Income tax and minimum wage combination for USA, Russia and China is given below.
USA - IT % - 15%, Min wages - 1.00 USD
Russia - IT% - 10%, Min wages - 5.00 RUB
China - IT% - 15%, Min wages - 5.00 CNY
It is interesting to note that only Chinese treasury is full enough to potentially make an air strike possible. No wonder that their high wage rate and high IT% drives to fill in the state treasure quickly.
The proposals were only narrowly defeated. I wish that our congress and our political parties across the spectrum understand the significance of building robust treasury to kick in the required growth momentum for building our treasury.
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hmm i m starting to wonder who is behind so many ppl suddenly writing abt the financial situation of india
Does pique my curiosity.
loool.... wanna try again ???
Setting the minimum wages that low gives you flexibility when people work for other resources. We refused the proposal because we had a lot of other reasons for the rejection as well. I like the fact that you are curious about these things but I suggest you get in touch with the veteran players and know more about the real ideas behind such decisions.
@Prasad or whoever wrote it....hope you know the resource situation in eIndia....or simple yet...come to IRC....but i know you wont 😛
anyways...xordin is always here
multies never come to IRC
0.82 is enough bro....we can't go more since we can't.
lol.Rebelash.