Rahul Mehta Gandhinagar LsCandidate

Inheritance tax ( = sucession tax) is MORE regressive than wealth tax in HIGHER range.
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And the inheritance tax on foreign elitemen will be zero !!
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How?
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Say Rockefeller owns wealth of say Rs 100,00,000 crore in India (not joke. Godrej owns land worth over Rs 300,000 crore, in Mumbai ALONE !! So guess wealth of Godrej across India. And Godrej is BPL compared to Rockefeller. So guess how much wealth Rockefellar will soon own in India. BPL means - below poverty line, people who stand in ration card shop queue )
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Then inheritance tax on Rockefeller = ZERO !!!
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Why?
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Because all wealth of Rockefellar in India will be owned by a bank in India, which will be owned by bank in Mauritius, and shares of that Mauritius bank will be owned by a Rockefeller trust = foundation in USA !!
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And before Rockefeller dies, he will appoint his son as trustee of that trust = foundation
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So effective inheritance tax on Rockefeller's wealth of Rs 100,00,000 crore in India = Rs 0.00
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Hence, the inheritance tax on foreign elitemen will be zero !!
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And inheritance tax at high level is zero, because very rich park their wealth in trusts = foundations and appoint their sons as trustees before they die.
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So inheritance tax on them will zero.
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So pls oppose this NONSENSE inheritance tax,. And pls support wealth tax, that forms UNIFORMLY on all wealth.
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(Aside - I have proposed 10% extra wealth tax on properties owned by trusts, and 1% to 5% inheritance tax, and that inheritance tax will be equally divided amongst all citizens of India. The tax will be 1% if person's death age is 60 years or less and will be 5% if his death age is 100 years and will be pro-rated otherwise. Why? Because that gives incentive to every citizen in India to protect wealth of elderly. But 5% inheritance tax proposal is NOT same as 35% inheritance tax proposal promoted by Sri Modji via his Minister Jayant Sinha)
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