Wednesday, May 21, 2025
Not a right.
"Non-Resident Indians (NRIs), H-1B employees, international students and all other non-US citizens of America, including those with US Green Cards, will be directly impacted by the new law imposing a 5% tax on remittances sent by Indians." FE. "Netizens, especially NRIs swiftly reacted to the proposed bill." "This is really a NEW form of stealing people's hard-earned money (and who contributed fully their fair share into tax revenue and social security contributions), by a rapacious, unaccountable US government," a Reddit user. FE. Firstly, the US did not beg the writer to come there. He cannot claim the right to support family members or buy assets in India with money earned in the US. In India, "When a person remits money to a foreign country, they are required to pay a certain percentage of the amount as Tax Collected at Source (TCS)." One has to pay this tax for medical treatment/education (other than financed by loan), overseas tour package and any other purpose. cleartax.in. The writer is able to use words like 'stealing' and 'rapacious' about the US government while living and earning there. Here, in India, you will be arrested and thrown into prison for making "derogatory comments" on Prime Minister Narendra Modi. India Today. Of course, any criticism has to be 'derogatory' in nature. "We have been the world's top recipient of foreign remittances for nearly two decades, with estimated inflows of $129 billion in 2024," with the US contributing the most with $32 billion. Mint. "So, if the inequity of its design is one problem, what it says of an economy that thrives on liberal rules for finance is another matter." It's as if Indians have a God given right to plunder other countries but tax one rupee going out. "These aren't just numbers - they reflect the daily reality of Indian households that rely on remittances for survival, education and healthcare. Trump's proposal would cut this vital income, threatening household security in India and deepening global inequality," wrote Regimon Kuttappan. "A 5% tax could significantly raise the cost of sending money home. A 10-15% drop in remittance flows could result in a USD 12-18 billion shortfall for India annually," GTRI founder Ajay Srivastava said. So what? India will be the world's third-largest economy by 2028," as "the Indian economy is projected to expand to USD 4.7 trillion in 2026," and "In 2028, India will overtake Germany as its economy will expand to USD 5.7 trillion," Morgan Stanley predicted. In 2023, "Addressing the country during the 77th independence, the Prime Minister declared that by 2047, the year marking India's 100th year of independence, the nation would achieve developed country status." newsonair.gov.in. Abandoned by their parents, "Indian children's are being found at the US borders with Mexico and Canada - without documents, guardians or belongings - carrying only a slip of paper with their parents' names and contact details." ET. India is an alternate reality created by bombast. In reality, Indians are dependent on the generosity of other countries. It's not a right. We should be grateful. Not angry.
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