Congress distances itself from Sam Pitroda's ‘wealth distribution’ remark as BJP rips into him
Congress' Sam Pitroda says he's ‘very concerned’ about state of democracy in India Sam Pitroda on Tuesday backed Congress' stand on redistribution of wealth and advocated an inheritance tax law in the country while elaborating on the concept of inheritance tax prevailing in the United States. He said, “In America, there is an inheritance tax.
If one has 100 million USD 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." "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 kinds of issues people will have to debate and discuss.
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 the super-rich only," he added. Following his comments, the BJP ripped into Sam Pitroda, terming the Congress as “property snatcher".
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