Taxation of wealth and inheritance has been tried in India before. These ideas should not be resurrected

There is a great populist urge in India — to take from the rich and give to the poor. This is the path to sustained poverty and economic failure. Two specific mechanisms that are being discussed — wealth tax and inheritance tax — are well known in the field of public finance. All over the world, there is analytical clarity on their lack of usefulness. They have been tried in India. They should not be resurrected.....

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Via business-standard.com