Increasingly, "black money" is also what the spouse is able to save up separately, what the poor man is able to keep after the rulers have bled him try, what the middle class is able to keep aside for a rainy day.
It is increasingly not what our loot and scoot type upper class are raking in - that money has now been sanctified and brought back into India cleaned up by a variety of routes, including Mauritius.
Humbly submitted.
Veeresh Malik
----- Original Message -----From: Sarbajit RoySent: Monday, March 04, 2013 7:24 AMSubject: Re: [IAC#RG] Time for the ACTION to startBlack Money is simply money (legal tender) on which no taxes have been paid at some point in time. Yes, there is a definite correlation between black money and corruption but it is not a "strong" correlation.
To put it simply, eliminating black money in India will hardly do anything to eliminate corruption. What will happen is that the bribe money moves overseas (as most of it already has) to be spent there and benefit the economies of the foreigners who bribe our netas instead of India and Indians.
IAC's objective is very well defined - "To eliminate corruption wherever found by all means". This has not very much to do with black money.
Sarbajit
On Mon, Mar 4, 2013 at 2:41 AM, Manmohan Kumar <nrisoldierleague@gmail.com> wrote:
On the positive sideSarabjit, if this is the contention; what's IAC fighting for?
1) India has a great Parallel ("black") economy which holds the nation together and insulates us from the economic woes of the rest of the world..
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