/ Economics / In the present India, only Banks should Pay Taxes

In the present India, only Banks should Pay Taxes

Peoples Voice on October 25, 2017 - 2:28 pm in Economics
Anandi Sharan
Writer, Climate Change Activist

India is a country of mass starvation deaths and malnutrition but bourgeois politicians don’t care.

Obviously, unless a central government has the right intentions no good can come of any policies. Sadly rather than committing to the constitution and using money to meet constitutional ends, Indian policy makers are more intent on administering a failed country.

It is quite obvious to absolutely everyone that India and India’s constitution and the lives of Indian citizens and residents have been destroyed by economics.

But instead of overthrowing private and nationalised banking based on debt, and a central banking system based on debt and a government fiscal policy based on debt, the Indian government continues to license private and nationalised banks to create money by lending for corporations and traders and for human beings conceived of as producers, consumers and distributors, rather than as citizens and residents of the country. In this scenario, it is ridiculous to ask anyone to pay taxes except banks. Banks create money, let banks pay taxes. Everyone else is irrelevant in the present system of what claims to be public finance but is actually just a private merry go round of the bankers.

The bankers try and make out that it is all about demand and supply, but flawed as this ridiculous idea of global and national and state demand and supply is, it is in any case, not the ruling practice. The ruling practice in money creation is by banks for banks.

Instead of assuring through provision of adequate legal tender the means in the hands of citizens to assure our own right to life, right to livelihood, right to health and education, and means to fulfil our duty to protect and conserve the environment, the center spends its years in office fiddling about trying to keep the money creation system of private and nationalised debt going.

This fundamental flaw in the way the policy makers and their rich few millions of corporate constituents imagine the country has left Indians in desperate ill health and without the means to feed ourselves.

Neither do we have land, nor jobs, nor local political institutions through which we could organise ourselves. Everything is controlled by the Center and the Center is hostage to the BJP and INCs Masters of Business and Administration and engineers who only think of people as consumers or producers or distributors, and only when the Masters have a new technological or technocratic solution which they themselves can operationalise and control for their own ends.

In this upside down world, in which democracy is used to legitimise impoverishment, hunger, starvation, illiteracy, economics is the most powerful ideology of the owners of the country to keep 1.2 billion human beings in misery.

Now that the world has lost nearly all of its plants and animals and only humans and weeds and monocrops remain, and the vast Siberian tundra becomes the newly emerging frontier of a thawing permafrost ecosystem, unpredictably simultaneously spewing methane and attracting migrants in search of land, policy makers in India turn in circles spiralling along the path of the latest global ideologists; green finance they say will create a new kind of indebtedness that apparently will be more benign; Indian citizens and residents are indoctrinated with wild ideas of Hindutva and the glory of the Hindu nation to overthrow the constitution and make the country ready for more mass starvation deaths even as green financiers get their returns on investment.

Obviously, there are ways out. Obviously, common sense tells anyone who is not indoctrinated by economics that taxation happens not before but after the minting of coins, notes and central bank digital currency.

Therefore it is obvious that given the Union has the power over sovereign legal tender under the seventh schedule of the constitution it is up to the Union through an RBI branch in every Gram Panchayat to mint enough coins notes and legal tender to help Gram Panchayats and town wards fulfil our duties and responsibilities under the 73rd Amendment.

Capitalism is dead. It has ceased to function and has been replaced with war of Empires played by the US against the rest of the world.

Anyone with the blindest bit of sense can figure out for themselves that a few private and nationalised banks licensed by an RBI operating according to lending laws set by colonisers in 1934 cannot create enough money nor the type of debt free money needed for 1.2 billion people to cope with life. In the age of the sixth biodiversity extinction and global warming debt free money in the hands of Gram Sabhas is the only thing that can support nature’s infinite growth potential to make human relationships the basis of a new flourishing.

A new kind of money is needed, created and owned by local governments managed by Gram Sabhas of just two or three thousand members. These are the better political units than central and state ministries for building and maintaining houses, sewage systems, composts and fertiliser systems, seed banks, field crops, schools, hospitals and places of entertainment and beauty.

We have thousands of people per square kilometre now and unless we have autonomous political institutions with our own money creation powers for every one of the 300,000 Gram Panchayats and Town wards in the country mass starvation will continue.

Even most of the economists in the International Monetary Fund (IMF), the central banks of the world (CBs) and the International Telecommunications Union (ITU) are coming round to the idea that inequality and poverty cannot be overcome under capitalism. But of course the French Managing Director of the IMF would prefer to lead the core countries of capitalism in their utopian transition from industrial to financial exports, rather than advising India and others to issue sovereign coin, note and digital currency through local government to exit from global dependencies. Still. Many others in these institutions can see the writing on the wall for capitalism and the US.

Whilst the utopian green capitalist agenda continues to bat for private debt based money, for global financial trade, for returns on investment for investors through exploitation of sunshine for the benefit of capital, for ways and means to benefit the few thousand millennials in the US and elsewhere who are about to inherit their parents trillions, others, also in the IMF, as well as in CBs and the ITU are coming round to the conclusion that only decentralised minting of money in coin, note and digital form can help us cope with global warming and biodiversity extinction.

Such a form of money gives local governments the means to cater for the needs of the citizens and residents based on local democratic decision making about housing, jobs, health wealth and happiness.

Against this backdrop Goods and Services Tax as well as income tax and company tax are obviously a total waste of time and energy and the less the people comply with them the better, and the more we spend our time fighting for decentralised democratic money to cope with man made global warming and biodiversity extinction the better.

Everyone knows that both Indian National Congress (INC) and Bharatiya Janata Party (INC) and the political parties allied in both coalitions are committed to the Utopian fantasy of General Sales Tax (GST).

But voters need to know is: a different world is possible.

Decentralised minting of coins, notes and digital reserve bank money is possible. Universal money issued to citizens by local governments through their own democratic banking with the central bank is possible. Total control of the local government over local development on the basis of the constitution to prevent destruction of local ecology is possible. Outlawing noisy machines that kill animals and give heart palpitations is possible. It is possible in India to print enough money to create 100 percent employment through all Gram Panchayats and town wards and get lawyers to clear the backlog of millions of cases in the judiciary.

If 500 million people now have direct personal access to the internet in some form in India, what could possibly be the fantasy state these parties are erecting on the basis of Goods and Services Tax? Taxation should be done by Gram Panchayats and town wards to control local inflation, that is all.

Wish common Indians would stop being so deferential to the upper castes and classes and throw out the Masters of Utopian Capitalist Greed.

Probably it is time for millions of communist party members to come out and throw out the Sangh Parivar ideologies once and for all. The Utopian capitalist fantasy of Hindutva is causing mass starvation and hunger.

In any case, the country is in chaos and really exists only in the minds of the masters. The rest of us just laugh at the extent to which the rulers and businessmen believe in their weird economic Utopian delusions.

And on the positive side, we keep struggling for a system of public finance based on the constitution. The time is right for a peaceful revolution in public finance in India, ushered in gently and lovingly without inflicting hardship or pain. The time is right for a mass movement of refusal to pay taxes. In the present India, only banks should pay taxes since they create the money. Until Gram Panchayats and Town wards control the creation of money through our local branches of the RBI we should not bother with paying taxes at all.

0 POST COMMENT