AGAINST THE TOPIC

Tax policies are the guidelines issued by the government for the collection
of taxes. It has been quite a controversial topic over the last 10 years. This
is because the general public has been quite divided over this. There have
of course been and will be people who have complained about the Indian
tax system, saying that the taxes for certain people are very high.
Progressing taxes in India have been continued in order to impact
compliance or investment decisions. The Indian government has to
strategically make investments and disinvestments in order to really
stabilize corporate tax rate. There have trends with the increase in tax
base. With the imbalance of wages, levies, etc in the tax rate, many people
were displeased. There has also been the instance with finance miniter
nirmala sitharman raising the taxes of HNI’s by 3%. There have also been
ongoing opinions about the bracket creeps which are thought to be
unstable with the income taxes increasing without any real increase in
purchse power. This has had many people voicing their opinions about
how bracket creeps are a dishonest ad stealthy form of taxation. For a tax
system to be considered sustainable, it must yield a stream of revenue
that grows at the same pace as the services it is intended to fund; over the
long-run, both should grow along with the economy. To achieve that
particular rate of growth, the taxes that make up a given tax system must
be designed in a way that prepares them for any broad economic
developments that affect the tax base.