On my way home from work, I was having this conversation with a colleague. He made an interesting point, the change in our thinking if we were to legalize corruption. The concept is simple – Declare your black money, pay a nominal amount to the government and you get to keep it for yourself.
I am not thinking through this completely here, but would require your help as well. But here are some points which came to my mind –
- The IT department has to be more thorough and catch all defaulters; that’s a tough task but that is the only way the corrupt people will be encouraged to come forward with their black money
- People will be encouraged to be corrupt, since there is a legitimate way to declare that income!!
- Government gets an inner cut on each bribe it’s official takes!! A kind of a plough back system!!
What do you think?
Addendum –
Seems this is a crazy hair brained idea as any. Read the comments to know more!!
They had a drive back in the late 90s or 2000/1 which was asking people to declare all their black money and have minimum tax on it. Did not work. The moment someone declares black, their house will be raided to find more of that. What we need is more honesty, not legalizing corruption.
@Prasad: Comment by future Mantra is spam. Please remove it.
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The following is not spam:
We’ve so many cases pending in courts. Let’s do this: We ask everyone to confess the truth and they pay nominal feel to the government and are set free for life.
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I suggest this: Make everyone declare their wealth. Then raid random houses. Slap the ones who cheated in first round on national television.
Conduct round 2.
and so on…
@everyone: I are not good on English. Neither you are…
{@Prasad, delete this. I’m just trying to be funny, or get more backlinks…muwahaha)
@Prasad:
Correct me if I’m wrong. I think I was only in school when there was this VDIS (Voluntary Disclosure of Income Scheme), and it promised secrecy, but then that was what exposed the likes of Azhar and co, and quite a few others.
:)
@Biggie – Moderation of comments is too much work :-)
@Future Mantra – Begone ye spammer
@Sudhir – Ohhh … I guess this idea will never work!!
They had VDIS. But what they did is, they let go of people that year, but kept close eye on people who disclosed the black money and trapped them later!
How much black money you have KK to get the idea?
@Sushrut – How can a white collared employee get their hands on black money :-) … tell me and I will let you know how much I have :-D