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> Why is it a problem? I understand that it means untaxed money. The real problem with black money is corruption. When money flows through the banks corruption
by sheepmullet 10y ago
> Why is it a problem? I understand that it means untaxed money.
The real problem with black money is corruption. When money flows through the banks corruption is much harder to hide.
- scotty79 10y agoI see. They basically try to remove the money that was coming back into the economy through bribes. To reduce bribery (bad for way more clear reasons) they went after the money that was used for bribing. Taking money from the hands of people that dodged taxes is just nice educational side effect.
- AstralStorm 10y agoExcept it was taken mostly from people who paid taxes, e.g. VAT on produce, or those who are beneath tax brackets.