Comments by "srini sbir" (@srinisbir8781) on "We put Oxfam’s ‘Eat the Rich’ condemnation of India’s wealth creators at Davos to test of facts" video.

So, according to OXFAM, bottom 50% of India has a per capita income of $2500.00, where the overall is $2100.00. I am wondering what kind of income distribution can possibly give rise to this arithmetic. Need to start using the BS meter.
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@pamtam1 Where are you pulling these numbers? Do you know that Amazon rose 222% during pandemic. I cannot image Adani's wealth increasing 8 times. Please provide sources.
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@pamtam1 So you want stock in all companies to go up, which I also want. But reality is different. Market works on efficiency and competence. Only those companies that are competent would rise up and grab the market share.
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@pamtam1 According to the OXFAM numbers, the bottom 50% per capita is $2500.00, when in fact the overall per capita of India is $2100.00. How is that possible? Either OXFAM has exaggerated the indirect tax that bottom 50% pays or that India's per capita is way higher than what is quoted by world bank. I cannot trust whatever OXFAM is saying, unless there numbers are checking out.
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@pamtam1 Did you not listen to what SG told here? Why are you looking into wealth instead of income?
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@pamtam1 We need to look into the actual value that is collected not the rate. That is why we have a rate in the first place. If Adani earns 100x more than a poor, then the tax that comes out of him will also be 100 times more than the poor at the fixed rate. Ultimately, we need to look into revenue we generate and not the rate at which we generate the revenue.
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But he also employs a lot of people who each each "Y" number of chapattis.
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@pamtam1 But Adani also employs a lot of people so that people can pay their bills. If you start taxing Adani, his wealth will go down and he will start laying off, then who will pay the bills of those unemployed people.
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@pamtam1 you and i know that tax does not apply on wealth but income. If i start taxing on your stocks that you haven't cashed yet, would you be happy for that?
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Nobody takes it seriously now, but maybe some nutcase starts taking it seriously in the future.
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@preshant91 Its not even 20% growth. It's astronomically high. Usually income distribution has a power law, with heavy tails. So, if lower 50% has a PCI of $2,479.00, then the upper half will have a PCI of several folds higher than that. By this arithmetic, there is no way the overall PCI of India is $2100.00. It must come to about $5000.00. My assumption is that the top 50% PCI is at least 4 times the bottom 50% PCI.
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@pamtam1 Btw, SG proved that the numbers put forth by OXFAM is quite bizzare. According to the OXFAM report, bottom 50% pays 63.4% of GST collection. Also, on average the bottom 50% group spends 6.37% of their income on GST. If you do the simple math, assuming a nominal GST collection of 1.4 lakh crore per month, you will end up that on average bottom 50% of people have an yearly income of approximately $2500.00. Now if we include the top 50% per capita income (PCI) to it, the average PCI of Indians will definitely exceed $2500.00. Actually, assuming that the PCI of top 50% is 3 times that of the PCI of bottom 50%, we get that the PCI of India comes to be close $5000.00. This number is far higher than the world bank estimate of India's PCI of close to $2100.00. Has OXFAM done due diligence in their numbers and figures? Or is it just putting out click bait news article?
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@pamtam1 Hmm. I thought Adani's will pay for electoral bonds. I am now sure you are a troll on Congress payroll.
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@pamtam1 i know all that. When did this govt. go into recession other than for COVID?
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@meret99 they do that in US as well. Obama admin supported American automobile companies from being bankrupt. This happens in a lot of countries.
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@pamtam1 MSME sector is in a bit of trouble, mostly because it is quite incompetent with respect to the world competitors. These MSME used to thrive by hiding their income and taxes, and now with GST are finding it hard to survive. While I commiserate with their situation, there should not be any place for people who hide money in black to avoid taxes. On the other hand, there has been a huge improvement in the formal sector. This kind of change is quite normal as time changes. Nothing stays forever.... India is still growing at the highest rate among large economies.
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@pamtam1 https://youtu.be/aIe7f6eJvgU?t=901 This is coming from Tata sons, not your usual suspects Adani and Ambani
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@pamtam1 You mean 1 in 3 person is unemployed in India? What are you smoking? Could you please provide me the source of this bizarre number?
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@pamtam1 You can encourage people to hide taxes, and one day 100% of the Indian economy would be MSMEs, and we will be driving cars like Ambassadors again. The same thing happened in USA. There were a large number of deadwood companies that were sucking taxes from USA and driving incompetency. There were more than 200 car manufacturing companies in USA just before the great depression. These were all the MSMEs. Now you can see where USA is, and how it has reshaped itself. It is survival of the fittest, you silly.
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@pamtam1 Don;t know how old you are, but for me to take you any seriously, please stop using emojis? I can understand and read between the lines, so no need for emojis. I just showed that Tata, your friendly company, is openly endorsing Modi govt. vs. the UPA government. So, I didn't need to bring Adanis and Ambanis into the discussion at all. It seems your are obsessed with Adanis and Ambanis more than Rahul Gandhi is obsessed with RSS.
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@pamtam1 Remember that during Indira Gandhi used to tax everyone at 99% rate, and thereafter the black money increased in India. Google this, you will get more insights of that.
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@anshuraj4277 Netherlands has one of the worst income inequality in the world. https://www.youtube.com/watch?v=Ot4qdCs54ZE&t=489s&ab_channel=EconomicsExplained
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Inequality is not rising in terms of income, but in terms of wealth. THERE IS A BIG DIFFERENCE BETWEEN INCOME AND WEALTH.
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@pamtam1 If you start applying taxes based on income level, then there will be willful tax defaulters. More people will resort to ways to hide their taxes. I know that it is harder for salaried people to hide their taxes as it is deducted at the source, but small businesses and other unorganized sectors will start hiding their taxes. So, adjusting tax according to ones wealth and income would be disastrously. What you are not understanding is that even when MMS in UPA had higher corporate tax rates, the contribution of corporate taxes to the overall tax collection was only 19%. Now after slightly reducing the corporate tax rate, the contribution of corporate tax collection to the overall tax collection has increased to 26%, and it is expected to go further. If top 1% of the companies contribute to 30% of the overall tax collection, then the corporates have already given their share.
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@max-cs9ko Because there is no entrepreneurship in China. China is not a market economy. It is heavily controlled by the government. The people who are getting rich there are those who belong to the CCP.
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