Lok Sabha Elections 2024 LIVE | Congress Wealth Redistribution & Inheritance Tax Row LIVE | N18L
Emphasing the need for policy towards wealth redistribution, Mr. Pitroda elaborated on the concept of inheritance tax prevailing in the U.S. "In America, there is an inheritance tax. If one has $100 million worth of wealth and when he dies he can only transfer probably 45% to his children, 55% is grabbed by the government. That's an interesting law. It says you in your generation, made wealth and you are leaving now, you must leave your wealth for the public, not all of it, half of it, which to me sounds fair," Mr. Pitroda said.
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