If only it was an investment instead of being mugged.

 "In ET Online's recently conducted Mood of the Nation Survey, nearly half of the respondents said that a sentiment boost to the Indian middle class would be Modi government's best bet to mitigate the economic impact of the pandemic." "Consumption, the pillar that normally accounts for over 60% of India's GDP, is majorly reliant on spending by middle class consumers, both urban and rural," people "who bear a disproportionate tax burden only to find themselves at the receiving end of policymaking again and again". "A Pew Research Center study had shown in 2015 that according to global standards of middle income -- per capita income between $10 to $20 a day -- up o 95 percent of India still qualifies as poor or low income," wrote Amritesh Malhan. The middle class has been hit hard by negative real interest rates so that their savings are losing value, even as taxes are deducted by the bank if total interest is in excess of Rs 50,000 per year. "The truth is that this scheme is designed to stealthily steal from the productive classes in order to enrich the unproductive financial class and the counterproductive political classes. It is a con game," wrote Mark Thornton. If you combine negative real interest rate with 'bail-in' provisions for banks, as in the FRDI Bill, then it causes "economic harm throughout the productive sectors of the economy including workers, savers, entrepreneurs, retirees, and pensions". "It is based on cruelty, deceit, fraud, rage, division, war, greed, arrogance, and excessive pride." So how to help the middle class, 21 million of whom have lost their jobs till August, according to the Center for Monitoring Indian Economy? "At a minimum, the Center should return sums paid as income tax by those who have suddenly been deprived of their income," wrote an editorial in the Mint. Is the Mint asking for unemployment benefit, as in Europe? Never. It will be an interest-free loan to be paid back over 5 years when the person finds employment again. The chalice could not be more poisoned. "GDP growth declined continuously for eight quarters except an 8 basis point blip between December 2018 and March 2019. It was 8.2% in March 2018 and fell to 3.1% in March 2020," wrote Roshan Kishore. Because of a virtuous government, thinks R Jagannathan. "We are missing the elephant in the room: the Narendra Modi government's excessive aggression in its effort to reduce black money and enforce tax compliance, of which demonetization was only a political gambit." Modi thinks all taxpayers are thieves, and so has forced income tax returns to be linked with the intrusive Aadhaar. And yet has absolutely no qualms in selecting criminals to represent his party the BJP in elections. The truth is that per capita in India is a paltry Rs 140,000 which is much lower than the income tax threshold, wrot Praveen Chakravarty. Perhaps, if a portion of income tax is invested by the government for unemployment benefits, pensions and health insurance for taxpayers people would pay taxes in excess of what they should. As it stands, income tax is pure extortion. No one likes to be mugged.