[amdavadis4ever] Sheep eager to become mutton

 

Sheep eager to become mutton   Today in an economic society, the most important thing is security of future which one must build on one's own. For that one saves in a bank. One takes fixed deposits. One expects the saving to function as an asset, which means utility to be utilized when needed. If the utility has vanished, then the asset is lost. It becomes a horrible joke. Suppose one accepts this tragedy as something normal. Then it means that the person is demoralized, with no hope---depressed. If this is a general feature, then the community itself has lost its vitality and all exhortations by the leaders about a glorious nation etc, become mere bluffs. When a glaring and staring problem is still avoided, it means that panic has set in. Discussions other than the topic become fear stricken diversions. The people become sheep waiting slaughter with all resistance gone.   In such a society any oppressor can take over, as concealed fear rules. I am often asked to show one country where interest is not taxed. Often they refer to the USA where the bank interest is about one per cent. But are we willing to live like debtors for life on credit cards? What all USA has to do is print Dollars from its press and import whatever it wants. It is the black mailing debtor country, which is militarily powerful and so no other country can really demand repayment. China actually is cowering before the USA, because it is the biggest creditor and if USA refuses to pay China can do nothing. In fact to keep its own industries functioning china must continue giving more.   Other than USA which other country can be sited as an example? If anyone can come out of the terror, I request enlightenment. And India can never aspire for its rupee to become an international currency. If such an ambition can be nurtured then the Fixed Deposits in the Indian banks must be real assets, which mean that the utility in them is safe. Then those Fixed Deposits shall be compared with other assets, like land, buildings etc.The test is whether the potential utility is continuously increasing or remaining unchanged or just vanishing. Well think about the fixed deposits and decide for yourself. Then decide whether it is just to include the interest in the taxable income or treated as lambs of mutton. Cultivated allergy to the phrase 'fake income' is actually scoring self goals.

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Posted by: yeddanapudi m <yeddanapudim@yahoo.co.in>

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