Amit Malviya: Amid the Lok Sabha Elections of 2024, Indian Overseas Congress leader Sam Pitroda has supported Congress’ position on wealth redistribution plans and argued for an inheritance tax in India similar to that of the United States.
Comparison of Inheritance Tax
According to Sam Pitroda, there is an inheritance tax in the US that allows the government to take 55% of a person’s wealth, with the owner being able to only give 45% to his family members or children.
He said that, “In America, there is an inheritance tax. If one has $100 million worth of wealth and when he dies he can only transfer probably 45 per cent to his children, 55 per cent is grabbed by the government. That’s an interesting law. It says you in your generation, made wealth and you are leaving now, you must leave your wealth for the public, not all of it, half of it, which to me sounds fair.”
He added that, “In India, you don’t have that. If somebody is worth 10 billion and he dies, his children get 10 billion and the public gets nothing… So these are the kind of issues people will have to debate and discuss.”
Prioritizing Public Interest in Wealth Redistribution
“I don’t know what the conclusion would be at the end of the day but when we talk about redistributing wealth, we are talking about new policies and new programs that are in the interest of the people and not in the interest of super-rich only,” the chairman of Indian Overseas Congress added.
Congress’ Nation-Destroying Agenda
Amit Malviya of the BJP‘s IT cell responded to Sam Pitroda’s recent comments regarding inheritance tax by claiming that the Congress has made up its mind to ruin the nation.
“Congress has decided to destroy India. Now, Sam Pitroda advocates 50 per cent inheritance tax for wealth redistribution. This means 50 per cent of whatever we build, with all our hard work and enterprise, will be taken away. 50 per cent, besides all the tax we pay, which too will go up, if the Congress prevails,” Amit Malviya said.
