Chidambaram Says, Higher Tax, On The Rich, Under Consideration, More Tax On Rich, Central Govt - YReach.com

Rich must be taxed more although they may not like it says Union Home Minister, P. Chidambaram, while speaking at the All India Management Association in New Delhi. He said, 'We must raise the tax revenue to defend (the expected aggregate decline of resources). I know many people won't like this. But I think, I can summon the courage to make the statement.' As Union Finance Minister from May 2004 to November 2008, Chidambaram had slashed taxes and therefore now he feels that citizens, particularly the rich must pay more taxes. At that time he was much appreciated for presenting a dream budget. He further adds, 'I am (was) the finance minister who slashed your tax rates. Therefore. you must be prepared to pay higher tax rates, especially the rich must be prepared to pay higher tax,' he said... Continue Reading>>>