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!!