Former Governor of the Central Bank: Big capitalists do not pay taxes.
The former governor of the Central Bank said: “Big capitalists do not pay taxes, and if a tax is imposed on these people who have incalculable assets, we can compensate the budget deficit.”
According to the online news agency Khabar, quoted by the Radio and Television, Mahmoud Bahmani said: “There are many ways to compensate for the government budget deficit, of which foreign borrowing and central bank borrowing are the worst kind.”
He said: “With foreign borrowing, we must return the principal and profit, which will cause problems for the government in a few years.”
Bahmani added: “Borrowing from the central bank means printing money, which also greatly increases inflation.”
The former governor of the Central Bank, noting that the issuance of participation bonds and treasury bonds are other ways to compensate for the government’s budget deficit, said: “In this way, the government borrows from the people to compensate the budget deficit, and although it must return the principal and interest money. But because it takes money from people and the amount of liquidity does not matter, it also has less of an impact on inflation.
He added: “By borrowing from the people, the government actually transfers the budget deficit to the following years, but we must note that with this method, the government’s debt to the people increases.”
Bahmani said that in order for the compensation of the budget deficit not to be accompanied by negative effects and consequences, the government should consider reducing the expenses.
He added: “If we could increase tax and customs revenues and prevent the smuggling of goods on legal and illegal grounds, we would not have a budget deficit at all.” Bahmani said: “Big capitalists do not pay taxes, and if for these people who have incalculable assets.” If taxes are imposed, we can make up for the budget deficit.
Criticizing the tax on employees ‘salaries, Bahmani said: “Unfortunately, the best tax that the government currently receives is the tax on employees’ salaries, which should instead receive taxes from big investors.”