Debate: Raghuram Rajan and Jayati Ghosh on wealth and inheritance tax.

Рет қаралды 9,893

Ай бұрын

🔴🔴🔴
Link for donation: paypal.me/sankymudiar
🔴🔴🔴
Become friends of the show by joining the channel: / @indiagloballeft
🔴🔴🔴
This is a clip from two separate interviews we did with Prof. Ghosh and Prof. Raghuram Rajan where we posed each of them the question of rising inequality and wealth tax as a solution.
Link to Raghuram Rajan interview: • Raghuram Rajan: A deb...
Link to Jayati Ghosh interview: • Prof. Jayati Ghosh: On...
🔴🔴🔴
Follow us on
Twitter: / indiagloballeft
Instagram / indiagloballeft
🔴🔴🔴
We are also looking for sponsorships or small donations. If you can, consider giving us what you can. Thanks.
Write to us at indiagloballeft@gmail.com
🔴🔴🔴
#indianeconomy #india #fiancialreforms #msp #inequality #thomaspiketty #wealthtax

Пікірлер: 78

@hdt8112 25 күн бұрын

Raghuram Rajan’s view is that we should not try it because we might fail. Is that what he is teaching his students?

@abc170000 26 күн бұрын

Ghosh idea of taxing the rich is based on welfare and has an egalitarian objective whixh shouldnt be discarded outright but Rajan's concerns are farsighted and grounded in reality. Wish economists can work together and propose a solution which can be applied without creating much deadweight loss.

@nitishfrankenstein4886 28 күн бұрын

Pls someone tax their inheritance 😂😂😂😂

@Abhijeet-ls7pk 28 күн бұрын

If they are billionaire, yes. Let's do it.

@Myanmartiger921 28 күн бұрын

@@Abhijeet-ls7pk send tamil nadu money to bihar and bengal. thank you. cant wait for tamil nadu money.

@tejesheconomics4072 27 күн бұрын

@@adolft_officialeven more so the richest East Indians and West Indians pay for Biharis

@harisaran1752 27 күн бұрын

And also , they are almost billionares

@Abhijeet-ls7pk 26 күн бұрын

@@harisaran1752 You haven't read how many zeroes billions have. Stop your non sense. For your information, list of Indian billionaires are in the internet. Have the habit of reading things then writing whatever your mind feels like

@DayzOfLyf 27 күн бұрын

Time is ripe for less and not more taxation ..in India we get zero benefit or safety with more than 50% taxation ..clearly the money is going to corrupt so do we want to open taps for them even more by adding more taxes! Govt should be shrunk to only border safety

@muralimalyala5505 2 күн бұрын

Lack of political will is hurting this country 😮

@hdt8112 25 күн бұрын

Rajan is a fellow of the Hoover Institute, so his views on wealth tax is 100% biased in favour of the wealthy.

@rajx7120 28 күн бұрын

What wealth are you talking about? Share market wealth is not real weath. It is notional wealth. If Adani or Ambani sells their stocks, then the price will fall, and they won't be able to realise more than 60% of the share value. Moreover, share prices reflect future potential of a company. People buy shares, when they think company will do well in the future. Which means more jobs will be created too.

@thomascromwell6840 27 күн бұрын

Wealth is wealth. If I can get a loan on the basis of ownership of shares, then you can pay taxes on the transfer of those shares upon inheritance.

@thomascromwell6840 27 күн бұрын

Also, I don't know where you learned economics but your stock price does not determine the number of employees you have. Little wonder then that while the stock market soars with buybacks from shell companies, unemployment is at its peak.

@ihavenojawandimustscream4681 23 күн бұрын

Share price is speculative wealth. It has little to do with actual long term employment or production of goods and more to do with the perception of stockholders on a company's liquidity. Said company can be a rentier company mainly operating on extraction or services that isn't a reliable growth indicator, it can even be a company doing outsourcing and in that case rise in share price actually bring down jobs...

@AvinashTavares 26 күн бұрын

He's super defensive over wealth tax. Wealth tax is required and like any other tax , it will take several dozen reiterations for it to come close to perfection.

@cogito9350 24 күн бұрын

Ameero se le nahi paoge , gareeb de nahi sakte Bach Gaye middle class , khoon chuss lo unka

@zoogle-fs6gv 27 күн бұрын

Why won't she just give up her wealth, 95% of her income and live in a village where she can still spout her nonsense? She wants other people to give their wealth, just don't touch hers.

@rubinmathias7555 27 күн бұрын

She's not a billionaire

@zoogle-fs6gv 27 күн бұрын

@@rubinmathias7555 so what? she's still wealthier than 99% of the world and can give it away. Which rule book said only billionaires need to be targeted. Oh yeah, the rule book written by her, that conveniently wants to tax others but not herself. What a joke of an argument.

@sps6 27 күн бұрын

Communist economist...they have destroyed the world and now want to do it in india

@ihavenojawandimustscream4681 23 күн бұрын

This is such a nonsensical non-argument. Like Modi's remark that the wealth tax wants to take bangles away. Billionaires derive their wealth from exploitation of others and corruption, especially in a country like India. The Wealth Tax is not anti-wealth; it is designed to curb wealth inequality and wealth derived from exploitation and speculation.

@zoogle-fs6gv 23 күн бұрын

@@ihavenojawandimustscream4681 this is such a deranged comment. Did Narayana Moorthy, Anand Mahindra, Uday Kotak exploit others? How were they beneficiaries of corruption? Kuch bhi!! On the contrary, how many jobs did they create versus how many jobs has Jayati Ghosh created? If people had to choose between who is more useful to society Jayati Ghosh or Narayana Moorthy, the majority would choose Narayana Moorthy.

@thebestevertherewas 27 күн бұрын

I would like access to Jayati Ghosh's wealth. I can bet her net worth is 100x mine. I promise i will use these freebies wisely, on existential issues like Healthcare, Education 😢 Pls

@ihavenojawandimustscream4681 23 күн бұрын

Adani's pre-wedding costs more than the GDP of small countries...meanwhile you are focused on Jayanti Ghosh's wealth... Indians have been collectively hypnotized by billionaires

@thebestevertherewas 23 күн бұрын

@@ihavenojawandimustscream4681 Would like his too But sadly he isn't up for re-distribution commie style. But I will help anyone who's willing

@malpalmer3269 27 күн бұрын

It’s not just India it’s everywhere

@gurbachansingh_macrofinance 27 күн бұрын

Topical, useful. Thank you

@Anway-NeverGiveUp 23 күн бұрын

How to get rid of ongoing crisis in employment sectors where in reality more than 78% people are victims of unemployment and deprived of stable and secured employment sectors. Where more than 15 lakhs industries are shut down along with many MNCs have left the country due to ongoing continuous political instability and social insecurity.

@AjitJoshi686 26 күн бұрын

The Indian right wing troll army will get surprised with views of Raghuram Rajan on wealth tax, if they understand what he is saying 😂😂

@jamysmith7891 28 күн бұрын

Strong lawyers, weak laws Inheritance wealth is aristocracy, the project of Western Oligarchy that we call liberal democracy Stop taxing the peasants, tax wealth

@jamysmith7891 28 күн бұрын

The whole point of taxation is to convert surplus production into public works, Wealth accumulation is corruption; That is not to say everyone should have the same standard of living or that a comfortable deposit is a bad thing, but no one Earns billions

@suvrajyotigupta2368 27 күн бұрын

Jayati Ghosh.... when ranting masquerade as scholarship.

@BallyBoy95 27 күн бұрын

Did you not bother to listen to her? She pointed out the irony of taxing every working/middle-class man on their property but not the rich. How exactly do you avoid that as a rich man? It is Raghuram Rajan who didn't explain that well. Spend more time listening and less time being judgemental.

@suvrajyotigupta2368 27 күн бұрын

@@BallyBoy95 I have been listening to this lady for decades and would know a little more about taxation than the Jayati Ghosh fans might think. Property tax is on tangible property land, house etc. What is easier to measure and audit - these things or financial assets and notional assets like stocks and bonds or intangible assets like IPR ? Also property tax is often a local tax in India and generally not properly collected. In the US also the total collection from inheritance tax is actually far less than property taxes , that are the mainstay of City & Municipal finance.

@jishnuadhikari5234 15 күн бұрын

Netherlands has a pretty good system

@malabikasaha2452 15 күн бұрын

How bank, colliery, aviation were nationalised.

@rama_lama_ding_dong 24 күн бұрын

The premise in intro that good lawyer=legislation is os a reliant. It relies on elected officials capitulating, as a contingency. So a very murky premise

@girishsathyanarayana2291 27 күн бұрын

US is more unequal than India. It has a much higher Gini coefficient. People like Jayati Ghosh from liberal arts(BA-MA) background do not understand the math behind metrics like cross entropy, Gini score etc. I bet she does not understand how a random variable or a probability distribution is defined. she is utterly incompetent to talk on these topics. she can try for CEA job with president of Venezuela.

@BallyBoy95 27 күн бұрын

Oh stop being silly. Plenty of non-economists cute Gini coefficients without knowing how to calculate them. You're just being silly and misogynistic.

@SS.2026 26 күн бұрын

Just have to look at Financial Statements of the largest corps in India. Each one has 40-100+ subsidiaries scattered around the world. So they are reaping advantage over everyone else of cross border diff in interest rates, tax rates, forex, land prices, labour cost, govt subsidies, regulations etc etc. Change wont come from Govts and Institutions because they are too dependent on the Elite(those who own the most assets) in all kinds of ways. It has to come from the Elite themselves recognizing its unsustainable and agreeing to a different system. If you can move anyone of them to show up and talk about the sustainability of such a system, that itself will be an achievement.

@s20233s 23 күн бұрын

Who cares abt RRR wanting to be convinced -

@malabikasaha2452 15 күн бұрын

How competition regulation and nationalisation fundamentally different?

@nawalkishorpanday6262 27 күн бұрын

One better way is to have a National Investment Fund (NIF) and make the corporates to contribute to the Fund. The fund of the NIF will be invested and 80% of the fund's earning can be used to create jobs for the youth. 20% will be reinvested to grow the fund. Hopefully one day fund will be big enough to provide millions of jobs to the youth of the country. Through NIF, corporates too will get funding for their business expansion. Win win situation.

@ihavenojawandimustscream4681 23 күн бұрын

That's just taxation but with a name change 😂

@SurprisedDivingBoard-vu9rz 27 күн бұрын

No one has money to debate or rebate.

@DipakBose-bq1vv 13 күн бұрын

Rajan has proved himself as an ignorant person during his tenure as the Governor of the reserve Bank of India.

@girishsathyanarayana2291 27 күн бұрын

Let Piketty and gang make public the sample dataset they used to estimate Gini coefficient for India. I am sure there will be a huge selection bias.

@ihavenojawandimustscream4681 23 күн бұрын

Just classic "bias" argument. Used by everyone in the Indian gov nowadays, from decline in democracy rating? Bias. Decline in nutritional intake? Bias. Increase in inequality? Bias. This is North Korea level tactics

@brisingr12 27 күн бұрын

@12:17 Did she really refer to Taiwan as 'Taiwan China'? That's really weird.

@harshitsingh1600 25 күн бұрын

Commies cannot upset their overlords !!😂😂

@raveenakathuria3806 23 күн бұрын

My only question is did Ms. Gosh really read all the books displayed behind her or is it just a prop?🤔

@ihavenojawandimustscream4681 23 күн бұрын

Obv. Why are you asking this question? The question should be asked towards Raghuram Rajan

@arj123sub 27 күн бұрын

The silliest debate / discussion in the recent past. New depths that the ex Guv is reaching out to. Someone please tell him to "Level up". Less said the better about the quality of discussion.

@Openmind-on4kx 27 күн бұрын

This Madam don't like India growing and people are living better life. This communist madam want concentration of political power and wealth in the hands of communists fascists and politicians. More tax more corruption more money for communist party relatives. Wealth inequality is not a problem government shall create level playing field by insuring equal opportunities. Equalising output is a communist foolishness. Equalising oppertunity is the democracy and freedom. No government is efficient no more new taxes. This madam have to understand already income tax and indirect taxes together above 50 %

@thomascromwell6840 27 күн бұрын

Who is growing? The wealth is concentrated in the 1 percent which now owns 40 percent of the country. The income of the bottom 60 percent has increased by a mere 1 percent in the last 10 years. Inequality has never been higher in India. India is not developing. A few Indians are growing richer and instead of giving everyone a fair chance, they are looting and hoarding that wealth through nepotism and tax avoidance.

@thomascromwell6840 27 күн бұрын

There is no equal opportunity when 1 percent hoards all the wealth. The government has cut funding from social programmes. Nutrition programmes like midday meals have seen a cut of 40 percent. All education is privatised. All wealth has been given to private enterprise that only employs the privileged who then go on to avoid taxes. The government writes off their corporate loans when they fail. The BJP government has written off 24 times more the total amount in corporate loans than the UPA did in 2014-2023, than 2005-2014. No wonder it is afraid of a socio-economic survey. Everyone knows it will show the black deeds of the government and its supporters.

@Openmind-on4kx 27 күн бұрын

@@thomascromwell6840 so what? Create wealth. This is not North Korea you can create wealth do it. Cronies are products of socialism and communism. Fix inefficiency and corruption in system more privatisation. Creating wealth is not a crime. Equal opportunities that is the job of government. Abolish income tax every body have to pay tax. Every one has equal opportunities in a democratic country.

@ihavenojawandimustscream4681 23 күн бұрын

Most of that wealth is being transferred to the West also. That's why you have so many Indian billionaires in the West now, including British PM Rishi Sunak. What a farce. Neocolonialism

@vjaysan 26 күн бұрын

Listening to these academics one can see how ridiculous the subject matter and the discussion is. India's problems are her starting problems, the large population, high illiteracy and the socialist, near communist, policies of 6 decades that led to the creation of 'chaebols' of rich industrialist. It also suited the elite to keep it that way and, some of them are out West condemning India from their ill gotten privileges. It's really true that the tide has changed only when a man without these elite privileges is giving the mandate to helm the country. In the last decade one has seen tremendous changes in India driven by the will of PM Modi, the provision of most basic human necessities to the masses, tripling of GDP, all the technological achievements, expansion of basic infrastructure and, certainly, a higher job rate. One can surmise that the last ten years has been a miracle for India, and most likely the next ten will be even more so as India has a pragmatic and visionary leader. The US grew her population to match her GDP, but India has to grow her GDP to match her population. Not just that for India but also her literacy level, social norms etc etc while the US imported literate people from Europe. Talking about it and acting on it are wholly different stages. C'mon people, give credit where credit is due, and a whole lot is due to PM Modi.

@ihavenojawandimustscream4681 23 күн бұрын

What are you saying. How can anyone with a right thinking mind thinks that Modi is not catering to monopoly industrialists? Have you seen Adani and Ambani's wealth increase?