tag:blogger.com,1999:blog-19740856.post2735394402352658941..comments2024-03-28T00:59:01.483-07:00Comments on India's housing bubble: For a responsible citizen, is investing in land the wrong thing to do?Unknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-19740856.post-91509263826392322782021-02-25T23:05:47.486-08:002021-02-25T23:05:47.486-08:00Investing in land is the biggest way to convert bl...Investing in land is the biggest way to convert black money into white money, but as a responsible citizen, I do not support it at all. According to experts from <a href="https://www.theacademicpapers.co.uk/buy-assignments-online.php" rel="nofollow">Buy Assignment Online</a>, amnesty scheme would be better for you. Iyaz Khanhttps://www.blogger.com/profile/18120353744554164460noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-76067304267435372762020-09-29T04:24:23.009-07:002020-09-29T04:24:23.009-07:00I have seen and read out all pages as well as all ...I have seen and read out all pages as well as all articles and I have just on thing find out is article comment section is very spammy and harmful for your web. so I have to suggest you one idea you will write up the custom essay service and also write up the guideline of comment. It's very important for your blog section.custom essay writing servicehttps://essayacademia.com/noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-17322983216019390362017-07-19T02:34:52.266-07:002017-07-19T02:34:52.266-07:00Really a nice work.Really a nice work.Jaihttp://www.toponwebs.comnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-82025059178633967962010-03-20T01:47:15.863-07:002010-03-20T01:47:15.863-07:00Do your duty of being a responsible citizen by sel...Do your duty of being a responsible citizen by selling off the land, pay all the taxes due on receipt of white income and convert your black money in white by disclosing it to the tax department. Happy.<br />A tax Consultant here.<br />see my site on GST in India. www.gstindia.comPeeyushhttp://www.gstindia.comnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-88340891735522955662009-02-22T03:56:00.000-08:002009-02-22T03:56:00.000-08:00Do a Robin Hood, play the system and direct the pe...Do a Robin Hood, play the system and direct the percieved black income towards charity.<BR/><BR/>Gandhiji said '' The reward of charity is the oppurtunity to indulge in it''shaynahttps://www.blogger.com/profile/14563567686138983615noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-92209547034260271952009-02-21T15:06:00.000-08:002009-02-21T15:06:00.000-08:00Read this.http://blogs.livemint.com/blogs/simple_e...Read this.<BR/><BR/>http://blogs.livemint.com/blogs/simple_equation/archive/2009/01/24/real-estate-and-the-corrupt.aspxAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-10072489170803719662009-02-21T12:10:00.000-08:002009-02-21T12:10:00.000-08:00You have a dilemma because you choose to define an...You have a dilemma because you choose to define and label things.<BR/><BR/>1. Responsible citizen<BR/><BR/>2. Investing in Land<BR/><BR/>3. Right thing to do<BR/><BR/>4. Black Money<BR/><BR/>Lets examine each, shall we?<BR/><BR/>1. Who is a responsible citizen? Is it someone who blindly follows all laws regardless of the idiocy or illogic of the laws themselves, or the corrupt political motives of those who make them? There are more written laws in the US or India or Britain than can humanly be understood even by lawyers. However, ignorance of a law is not a defence in court.<BR/><BR/>The law, it is said, is an ass. I happen to agree. Law is neither logic nor morals. It is the expedient course of action that satisfies innumerable special interests.<BR/><BR/>So if you don't even know many laws, you ipso facto cannot be complying with them, ergo you (or I) are, at best not a responsible citizen, and at worst, a felon.<BR/><BR/>There is also the consideration that a truly responsible citizen has the onus upon him of inciting change for the better. Change for the better would be for a country to abandon fiat money and go to commodity money. What have you (or I) done towards this goal? Nothing I dare say.<BR/><BR/>So sorry, we are not responsible citizens to begin with, even in the most lax usage of the term.<BR/><BR/>2. Land is not an investment, again by any loose definition. An investment returns an income. Land returns none, unless you farm it or do some kind of economic activity on it. You live in the US, so evidently you bought the land to sell at a higher price. Purely from an economics standpoint alone, you made a mistake: land is not an investment.<BR/><BR/>Also by buying land in the hope of selling it off at a higher value later, you added air to the bubble, or fuel to the fire - choose your metaphor. Evidently this was quite in contradiction to what a "responsible citizen" would do. See point 1 above. Responsible citizens do not fuel bubble manias.<BR/><BR/>3. What is right? What is wrong? These are hard questions to pontificate upon for a collective; most people in the world are merely trying to survive. For them, the boundary between right and wrong is quite the spectrum of gray shades.<BR/><BR/>There is a saying in Sanskrit which loosely translates to something like this: "From all the lakhs of verses that Vyasa wrote, there is only one lesson that emerges: To do good unto others is right and to do evil unto others is wrong." The reference being the Mahabharata, of course.<BR/><BR/>Where is the good in buying land and hoping it will appreciate in value? Where is the evil in selling it? These are voluntary transactions between two parties. If you don't intend to harm someone, why do you worry about what is "wrong"? How do you define that anyway?<BR/><BR/>4. Fiat money implies an income tax. The issuer of fiat has to reduce the ability of people to actually use their money, otherwise the system itself will collapse in hyperinflation. Pursuant to point 3 above, when people are just trying to survive, avoidance of taxation is actually the natural thing to do. After all, most people in India don't have enough anyway, without the government taking away a good quarter or more of their money.<BR/><BR/>Think - if the government can merely issue money with the stroke of a pen or the press of a key, why not do that rather than tax its people? When you find your answer, you'll find out why taxation is absolutely required, and why people go to great lengths to avoid it.<BR/><BR/>Of course, black money is just money that hasn't been declared to the government and no taxes have been paid upon it by the individual holding it. However, it was most likely earned legitimately, such as by selling goods. The buyer of those goods also likely obtained it legitimately, say as salary, on which taxes have already been paid.<BR/><BR/>But government is not satisfied with the first tax: it wants more and more and more: taxes on every transaction, every deposit in a bank, every hovel traded, even if it means that its citizenry will starve.<BR/><BR/>Now, is it the duty of a responsible citizen to abolish such a system or is it not? Is it also not the duty of a responsible citizen to actually hasten the demise of such a system by whatever means necessary, such as using black money?<BR/><BR/>I know - I'm kidding. What I want to demonstrate is that your simple question isn't quite as simple to answer within the framework of ones own logic, morals and ethics. I also want to demonstrate that actions that destabilize an existing system and replace it with a better one for everyone are eventually hailed as revolutionary, but are quite often illegal when committed.<BR/><BR/>Remember; Bhagat Singh was a criminal as per the British law, and so was George Washington. Washington would also have been hanged under British law had events been different.<BR/><BR/>Even your namesake, Obelix, was a criminal in the eyes of the Roman Law. And yet we know who the real criminals were.<BR/><BR/>Unfortunately the question you ask has no easy answers but hopefully I have added some value to the debate.Anonymousnoreply@blogger.com