Choose Your Hard

 
Being passive is easy.
Being active is hard.
Choose your hard.
 
Having a fixed mindset is easy.
Having a flexible mindset is hard.
Choose your hard.
 
Binge watching is easy.
Binge eating is easy.
Working on yourself is hard.
Choose your hard.
 
Following someone else's path is easy.
Creating your own path is hard.
Choose your hard.
 
Blaming is easy.
Taking ownership is hard.
Choose your hard.
 
Throwing up your hands and walking away is easy.
Folding your sleeves and putting your shoulder on the wheel is hard.
Choose your hard.
 
Having a perfect life on social media is easy.
Having great relationships with the people who matter in life is hard.
Choose your hard.
 
Earning sympathy is easy.
Earning envy is hard.
Choose your hard.
 
Thinking only about yourself is easy.
Thinking about others is hard.
Choose your hard.
 
Taking the max from the pie is easy.
Expanding the pie is hard.
Choose your hard.
 
First impressions are easy.
Lasting impressions are hard.
Choose your hard.
 
Being distracted is easy.
Being focused is hard.
Choose your hard.
 
Building material wealth is easy.
Building social wealth is hard.
Choose your hard.
 
Not taking risks is easy.
Taking risks is hard.
Choose your hard.
 
Following someone else's benchmark of success is easy.
Creating your own benchmark of success is hard.
Choose your hard.
 
Expecting loyalty/love/respect is easy.
Giving loyalty/love/respect is hard.
Choose your hard.
 
Impatience is easy.
Patience is hard.
Choose your hard.
 
Thinking short term is easy.
Thinking long term is hard.
Choose your hard.
 
Being bitter and resentful is easy.
Giving life second chances is hard.
Choose your hard.
 
Being fake is easy.
Being genuine is hard.
Choose your hard.
 
Being distracted and doing superficial work is easy.
Being focused and doing your life’s calling is hard.
Choose your hard.
 
Being nasty is easy.
Being kind is hard.
Choose your hard.
 
Not knowing today is easy.
Not knowing even tomm is easier.
Make the choice.
 
Consensus is easy.
Contrarian is hard.
Choose your hard.
 
Criticizing is easy.
Complimenting is hard.
Choose your hard.
 
Being salaried is easy.
Being entrepreneur is hard.
Choose your hard.
 
Preaching is easy.
Doing is hard. 

Choose your hard.

My Budget Wish List

It is the time of the year for budget wish lists. Lower taxes and better standards of living are on everyone’s mind. Reminds me of something a wise person said.

Everyone wants to go to heaven but no one wants to die.

Going with the seasonality effect, here is what I wish to see this year.

Tax farm income in excess of 10 lcs –

There is no reason for all farm income to be tax free. Also do away with all the tax incentives for farmers on purchase of all luxury vehicles.

Create a department of efficiency –

The same way as proposed in the US, a special ministry should be created to take a look at the government departments and their expenditures and suggest measures to cut flab and get efficient. 

Make PPF voluntary –

The middle class and lower middle class is leveraged with loan rates being much higher than what returns being offered on this mandatory investment. For retirement savings the NPS exists. Trust the citizens to plan for retirement with a combination of SIP, insurance and NPS. Will also improve ease of doing business by eliminating the PPF related compliances.

Make STT and brokerage paid deductible from capital gains –

STT was introduced when capital gains were abolished. Now we have both co existing. This will provide some relief of the increase in capital gains taxes undertaken last year.

Make GST paid by individuals as advance tax –

Up to 25% of the GST paid by individuals in the highest GST bracket should be allowed as advance tax. Will reduce the demand for items to be brought down from highest tax bracket, widen the tax base and improve compliance. PAN of the individuals can be provided at the time of consumption to get this benefit.

Create a scheme to encourage gold recycling in the country –

Incentive households and temple trusts to recycle the gold being held by them. Sovereign Gold Bonds was a good scheme. Channelise the domestic capital into areas of the economy where it can be productively used.

Stop export of domestic capital –

We remain short of domestic risk capital, in spite of the rise of the SIP and equity cult. The recent IPO of an auto MNC sets a dangerous precedent. A large consumer durable MNC is next. More will come. These MNC’s have already extracted their capital and profits out of the country. Now they are raising fresh capital and taking it back to their home countries. This should not be allowed. Any capital raise by an MNC in India should be strictly for reinvestment back in the country. Billions of dollars have already been taken out. Many more tens of billions will follow, if this is not stopped.

Make hospitalisation expenses not claimed under insurance deductible as expenses –

Many families suffer reversal of fortunes and loss of accumulated savings by medical emergencies where they are not covered/reimbursed under insurance. Such expenses should be allowed to be treated as expense without limits and deductible from income being offered for tax, up to the annual income of the year.

Retain different tax rates for different income types –

There is no rationale for the tax rates to be same on interest income and equity capital gains. The current system works well. There is no need to tinker with the same.