When the rich get going

A few weeks ago, Finance Minister P. Chidambaram let drop in a televised interview that though he was all for stability in taxation rates, there was an argument that when the economy and government required more resources, the very rich should willingly pay a little more. Said casually, as if to gauge the market's reaction, his remarks were a hint that the wealthy may be required to make an extra effort to keep the economy from stalling and to reduce the fiscal deficit.

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