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>>The actual intent of Demonetization was not the removal of Black Money. This is one of those 80's era misconceptions that continues to exist today. No one,
by kamaal 8y ago
>>The actual intent of Demonetization was not the removal of Black Money.
This is one of those 80's era misconceptions that continues to exist today.
No one, not even beggars on Indian streets keep their cash beneath their mattress these days. Money is invested in businesses, where the unorganized sectors works. In short if you pull the plug on this kind of economy you ruin the livelihood of people working in unorganized sector. Which is basically most of the Indian economy.
The remainder of your post is basically the hilarity I have to deal with day-in-and-out from people and their round-corner-barber-shop level discussions on how their random hacks and their political heroes will go around fixing everything. Urban centers are full of these idiots. Who think their barely held together theories, which won't survive 5 why questions in a stretch, should be forced implemented and others be made to suffer through it as a test of patriotism.
Demonetization was a devastating failure for one simple reason. Tax accountability is one thing. Capital is a totally different concept. Capital has always been invested in productive businesses. If you destroy that you destroy the economy. In essence the question is how to fix tax accountability without destroying the economy along the way.
Nobody gets applauded for burning down a city to eradicate rats.
- quantummkv 8y ago> No one, not even beggars on Indian streets keep their cash beneath their mattress these days. That was my point. A point that I think went over your head. Maybe I need to dumb down my language more? > people and their round-corner-barber-shop level discussions on how their random hacks and their political heroes will go around fixing everything. The success of a democracy depends on these barber-shop level discussions. Any working democracy should be proud of the fact that normal people discuss and have their own political views. Democracy is born from the bottom, not handed down from the top by the ever changing and confusing whims of a failed dynast. > Who think their barely held together theories, which won't survive 5 why questions in a stretch, should be forced implemented and others be made to suffer through it as a test of patriotism. Where did I make any of these points? Please stay on topic. If you don't have anything relevant to the topic then please stop. > Demonetization was a devastating failure for one simple reason. Tax accountability is one thing. Capital is a totally different concept. What is difficult to understand? Demonetization cannot be a failure on tax accountability or capital because it was never intended for this. It was to make a purely political point and it made that very clear to the people. The GST reforms are the reforms for the tax system. Not demonetization.
- dang 8y agoCrossing into incivility like this will get you banned on HN regardless of how good your points are or you feel they are. Please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and follow the rules from now on.