“So, I am curious, what happens if you take an investment banker and give him the country’s finance portfolio?”
“I know that one, unlike an accountant, he has the capacity to empathize with the salaried class as he raises their tax rates, as he himself was a salaried individual before being given the portfolio.”
“But surely an accountant is also a salaried individual, so why doesn’t an accountant have the same empathy?”
“An accountant may but a Greedy for Portfolios, Samdhi (GPS) has many others fishes to fry.”
“How many times have I told you not to be personal.”
“Sorry, but I didn’t mean to be derogatory – I was merely referring to GPS as a role model for all aspiring millionaires…”
“You being facetious?”
“No but moving on I reckon an investment banker’s income and the resultant tax cannot be compared to the majority of the private sector salaried who have not witnessed a rise in income for the past seven to eight years and are struggling to meet their kitchen budgets and…”
“But you should be thankful that the salaried who get paid from our tax money have been given a hefty pay rise.”
“Oh shush anyway that was not the right answer to my question what happens if you appoint an investment banker as the finance minister.”
“Let me take another guess. You insist that this time raw data will be used to tax the elite?”
“That even the GPS did, I mean all our revolving finance ministers pledged to tax the untaxed and yet to this day the already taxed are being taxed more.”
“This will be the last time…”
“Yeah, yeah, but the answer to my query is he does the same o same o that his predecessors did. Go and seek re-profiling of debt rather than restructuring of debt…”
“From where I am sitting, I would have preferred restructuring…”
“How come?”
“Well that’s because re-profiling is postponement of a debt which would imply higher interest for a longer period while restructuring would mean clearing a debt thorough borrowing at perhaps a lower rate of interest…”
“OK, but the fact is that whether it be re-profiling or restructuring, both indicate an attempt to avert bankruptcy.”
“Praise the Lord: we have achieved stabilization and are en route to…to…”
“Higher taxes and fund ever rising government expenditure.”
“Hallelujah.”
Copyright Business Recorder, 2024
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