“I think rather than bringing people down, our focus should be on taking people up. Inheritance tax only helps the lawyers in the society,” Raghuram Rajan says
Reserve Bank of India (RBI) governor Raghuram Rajan strictly disagreed with the idea of an inheritance tax and advocated a “cultural change” which pulls the rich towards giving back to the society.
Speaking at the DD Kosambi Festival of Ideas in Panaji over the weekend, Rajan said that instead of a “blanket inheritance tax”, let’s “change the culture”. The culture should be such that people don’t want to leave a lot of wealth for their children, he added.
Rajan further said, “I think rather than bringing people down, our focus should be on taking people up. Inheritance tax only helps the lawyers in the society.”
Reserve Bank of India (RBI) governor Raghuram Rajan strictly disagreed with the idea of an inheritance tax and advocated a “cultural change” which pulls the rich towards giving back to the society.
Speaking at the DD Kosambi Festival of Ideas in Panaji over the weekend, Rajan said that instead of a “blanket inheritance tax”, let’s “change the culture”. The culture should be such that people don’t want to leave a lot of wealth for their children, he added.
Rajan further said, “I think rather than bringing people down, our focus should be on taking people up. Inheritance tax only helps the lawyers in the society.”
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