USA INHERITANCE TAX?: A BUM RAP

Federal inheritance tax is non existent in the USA. Only Six states ( out of 50) New Jersey, Kentucky, Pennsylvania, Iowa, Maryland and Nebraska have it in their constitution. Petroda's reference to the inheritance tax is understandable considering the Nehru Gandhi successors lead congress of on the job in parliament trail towards communism:

1) Indira Gandhi during the emergency bought in the Gold control Act which was enacted to control sale and holding of gold in personal possession of citizens

2) During the emergency the 42nd Amendment also amended Preamble and changed the description of India from "sovereign, democratic republic" to a "sovereign, socialist, secular, democratic republic", and also changed the words "unity of the nation" to "unity and integrity of the nation.

3) Under Indira Gandhi, Fundamental right to own property by citizens under 19(1) f was abrogated and now is only a constitutional right.

The above is clearly to bring all citizens to be dependent on the state which is never a good idea for a countries prosperity. Hard earned wealth after paying taxes through out your life is to be handed over to the state. In plain words this is communism.

Why is Sam Petrodas statement a Bum Rap?

Firstly it is to be clarified that this was not so in the whole of the USA which is misleading. Secondly in todays Modi government such a move will detract both foreign and local capitalists. In the reign of the Nehru Gandhi family; private sector were put to crushing taxation ( mainly to kill it) and much largesse was given to soviet type public sector Units. The Public sector units were both unproductive overstaffed and under performing for decades. The drain is yet to be assessed by the Accountant Generals office - a path to ruin for the general economy, Marxist style. Is it possible that this is Chinese inspired? they are experiencing an exodus of their capitalists from Hongkong/Mainland. Are the Petroda inspired reference to inheritance tax for Indian capitalists to also flee from India at tandem? This will certainly please the Chinese!