Penny wise, pound foolish

 The idea of imposing higher taxes on the super-rich as a way of controlling the country's galloping fiscal deficit has been a matter of much debate and controversy. But how much will the government earn by raising the tax rates on the super-rich? In the absence of a clear definition of who the government considers to be super rich, and with no data available about the tax raised from those earning above Rs 50 lakh or Rs 1 crore a year, it is difficult to quantify the exact amount.

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