Black Money Name: Saquib Ali Shahid Ali Khan Class: M.A. Economics – Part I Roll no.: 1803 Meaning: In simple terms, black money is income obtained illegally or income not declared for tax purposes. Means of Acquiring Black Money and its Forms: There are various means of acquiring black money. A common and achievable source of such money is simply not revealing one's whole income for tax calculation i.e. concealing a part of the income from the government to evade taxes. On the other hand, wealth obtained from bribery, smuggling, black marketing, robbery, etc. is black money. At the same time, a lot of dealings and transactions can consist of black money. For example, if a person purchases a second hand car for Rs. 1,00,000, and accepts a receipt of only Rs. 70,000, the balance of Rs. 30,000 is black money for the seller, as it is unaccounted income. It can be in the form of real estate such as houses, shops, plots or other assets. Gold, silver, diamonds or jewellery also can amount to black money. Possible sources of black money include drug trafficking, weapons trading, terrorism, prostitution, selling counterfeit or stolen goods, and selling pirated versions of copyrighted items such as software and musical recordings. Thus, black money is a vice …show more content…
This has do with the rates of taxes on income earned by individuals. In India, if a person’s income is between 2.5 to 5 lakh rupees annually, he has to pay 10% towards taxes; if he earns between 5 to 10 lakhs he has to pay 20%, and if he earns more than 10 lakhs annually, he has to pay 30% of this income as taxes. That means, the more you earn, the more will you taxed i.e. at a greater percentage. Then there are indirect taxes, such as sales tax, value added tax, customs duty, stamp duties, etc. Therefore, the primary and fundamental measure to curtail the generation of black money is to reduce the tax
ANDREW CARNEGIE—THE ROBBER BARON Andrew Carnegie was one of the greatest of the tycoons of industry in the late nineteenth century, also being one of the greatest of the robber barons of the late nineteenth century. A Robber Baron is an owner of business who puts others down to gain fame and fortune. During a time of laissez faire, which is French for let alone, meaning government stays out of the business of others, any business owner could do whatever they wanted with their industry and workers—Carnegie took advantage of this by paying workers little salary and poor treatment. Some say that his past dictated what his future would be like—growing up poor meant others should grow up poor. With all of his money and power, he considered himself
The Money Men by: H.W. Brands US History AP Mr. Lee 2nd Period Student: Justin Baker Chapter 1: The Aristocracy of Capital Political: How did the federalists and antifederalists decide the US should run its money system? Ideological:
Black History Month is an amazing month. It 's a month where incredible things have happened, many great people have done incredible things in this month. Black History month is based of many people, my favorite is Martin Luther King Jr. Martin Luther King Jr. is a great man and he did many great things until unfortunately on April 4,1968 Martin Luther King Jr. was fatally shot and killed by a white racist man James Earl Ray was sentenced into 99 years in prison. James escaped prison and then was soon recaptured and added one more year to total of 100 years in prison.
Black Experience during the Reconstruction Era Throughout American history, black American people were treated unequally and unfairly by the White people. The Reconstruction Era was one of the most significant time period in history for the blacks. During the Reconstruction Era, America went through many political changes and changed the lives of the black American people. The Reconstruction Era was the time period after the American Civil War, during the years 1863 to 1877. This time period is called the Reconstruction because after the Civil War, the government needed to rebuild the South, “putting back the pieces”.
Judging from the article I read I see the term Robber Barons as a perfectly used term. Before the Civil War people were more of a locally relying group. In the process of the Civil war taking place you start having these men that see an opportunity to making small businesses into big corporations. Now, I did say that the term Robber Baron was over used, but I do believe there was a rise of Robber Baron’s in that time period.
As white people do you ever ask yourself if your race does not play a part in our perception? I get it that being black gives people an intimate knowledge of the affects that reparations would give to them and the role it would play in their lives, but do any white people ever ask if a myopia (if you don 't know what that means is a condition of seeing things clearly up close but relatively blind to the far things) and a certain amount of privilege changes your point of view? Reparations aren 't about "white people" paying blacks for stuff their ancestors did. They 're about the United States of America compensating for depriving a piece of its population of human rights for generations, through slavery, forced segregation and Jim Crow.
Over the course of many years, African Americans have influenced communities in many ways. African Americans have been used as slaves and segregated. After overcoming these struggles, they later were granted freedoms and rights. Many African American individuals have overcome these hard times and worked hard to achieve their dreams. Misty Copeland, Patricia Bath, and Madam C.J. Walker are courageous African-American women who have overcome racial stereotypes because of their determination to pursue what they love; Misty Copeland’s determination led her to pursue dance, and Patricia Bath and Madam C.J. Walker were strong, African American entrepreneurs.
How much of American history do you know? Black history is a part of America’s history, but why is it not deeply taught in schools? In schools we often talk about white American leaders or wars America has won, but not much history of other cultures in America. We may hear a little information about certain minority leaders who fought for a change, but not much facts. If today’s youth aren’t being taught about the thing’s their ancestors have gone through and all the things that has happened and why, many will grow up ignorant.
Katelyn Jackson U.S. Roots & Reform Corruption and Scandal in Ulysses S. Grant’s Presidency: Gilded Age Politics on Black Friday & in the Whiskey Ring President Ulysses S. Grant, born Hiram Ulysses Grant, was president of the United States from 1869-1877. He is arguably best known for his success as General-in-Chief of the United States Union Army during the Civil War, not his presidency. Though he was an unexceptional student at West Point Military Academy, and was a heavy drinker, his performance as a Union Army leader gained him great rapport with the biggest names in politics.
It is the man of wealth that cannot handle the money correctly. This is proven
The wealthier one gets, it seems, the more one rationalizes their decisions and actions. The more one stains their morality little by little until they no longer need to choose what’s right and wrong but what benefits them. Whether it’s right or wrong is then irrelevant. From people to companies, wealth is the source of
The reconstruction was said to have brought a change. However, Newly free slaves faced many challenges, and whites in the south saw blacks as way less than they did before. Black codes were introduced as a way to give people of color freedom in a constitutional form. They were unique to southern states and they each had their own variation of them. It was a way to restrict the black labor force and freed people as much of slave status as possible.
How big of impact could slavery have done to Africa at least that’s what they said? The slave trade had huge and horrible impact on Africa because it resulted in a tremendous loss of life, Africa has not developed economically as a result of the Slave trade, and Africa still suffers and is unable to provide food and water for its people. Africa had a huge loss of people but to be exact “nearly 90 percent of the Africans in these two major regions came from only four zones in Africa. ”(“The Transatlantic Slave Trade”, para 48) all had to go even against their will 10 million enslaved men, women, and children from West and East Africa to North Africa, the Middle East, and India.
Slavery Slavery was a life changing, horrific, and difficult time for the African Americans. They went through several trials daily. They came to America in 1619. Slavery became popular in the American colonies during the 18th century when slavery began to become well known and taken for granted. Slaves worked on tobacco,rice,cotton, and indigo plantations.
Before I read Atlas Shrugged by Ayn Rand, I associated a love for money as greediness and materialism. “The words ‘to make money’ hold the essence of human morality.” This statement has changed my view of money and it’s impact on society. In Rand’s book, a character by the name of Francisco d’Anconia gives a speech on the virtue of wealth after being called out for being a depraved product of money. He is scorned for his profits through the downfall of his competitors, but then ultimately talks about the problems his own company faces.