Abolishing personal income tax is a smart way to spur a consumptive economy
Taxes. We are besieged by them: The government takes away a chunk of our earnings through personal income tax. And when we use the reduced earnings to buy goods at the store or get a facial uplift at the salon, we are taxed again. Can we ever get this income tax monkey off our back?
What if the government were to take a bold step and abolish personal income tax? You heard us. Zero income tax.
(This story appears in the 03 July, 2009 issue of Forbes India. To visit our Archives, click here.)