A socialist commentator writes in the TOI that “The rich in India are among the world's most under-taxed. Since the 1930s to the Thatcher-Reagan era, the western capitalist countries had a top tax rate of 60 to 80 per cent and a direct tax-GDP ratio of 35 to 55 per cent. India's ratio, under 10 per cent, cannot fund public services. These changes will be resisted tooth and nail. But if the Congress recognises the roots of its own success, and Rahul Gandhi takes his social sector commitments seriously, the government must forge ahead with the New Deal.”
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