People who want to dodge taxes and hide their money from Indian authorities will have a much tougher time, after the Indian Parliament passed a bill to deal with "black money," better known as undisclosed foreign income and assets stashed away abroad.
But some don't just want to snuff out so-called black money – they want the term to go away as well.
Thanks to the recent bill, “For the first time, unlawful, undisclosed income abroad has been taxed under this law at a tax rate of 30 percent with an additional 30 percent penalty on it."
India’s Finance Minister Arun Jaitley warned those having such assets to utilize the “compliance window” because the world is no longer “willing to tolerate tax havens which thrive in secrecy”.
But for some, there are more serious issues.
Two of India’s political parties are demanding people stop using the phrase "black money." They think its discriminatory and insensitive and propose the term "dirty money" instead.
There is no dearth of racism in the world. Add to that perceived racist issues, and the volume increases tenfold. We seem to be living in an extremely discriminatory society.
How much of it is real and how much in our heads is debatable. But it is a fact that this obsession with everything being politically kosher has the tendency to create more problems than solutions.
What is this demand doing, for instance, other than a diversion from a very serious issue?
If 'black money' is racist, 'dirty money' is cleanist. Yechury is discriminating against the great unwashed in CPI-M! http://t.co/UapLQdJbt1— Ravi Mantha #NaMo (@rmantha2) May 13, 2015