This refers to Sunanda K Datta-Ray’s ‘The grey in black’ (May 9) where he says we have to tackle the reason for why black money gets generated in the first place instead of simply trying to bring it back from Swiss banks. In the past, we lowered import duties and this ensured smuggling of certain goods died a natural death.
Income tax evasion, similarly, has been reduced with the reduction in income tax rates. I think if we make tax rates zero, we can eliminate tax evasion as well. There are a host of other crimes, from rape to murder, which can be eliminated if only we change the definition of the crime. We must permit the rich to lead their lives without interference.
Since the law is ineffective against the cunning and the resourceful, we must remove the laws and unleash animal spirits. We should honour rogues and thieves as economic leaders.
Rajesh Mathur, on email
