Middle Class Paradox |
Let’s break this down. The middle-class taxpayer is constantly shouldering the burden of taxes, but what are they really getting out of it? Whether it’s the 18% GST on health insurance, the skyrocketing interest rates on home loans, or the crushing car loan rates, the salaried class is being taxed in ways that feel increasingly unfair. And while the government continues to roll out welfare programs targeting the underprivileged, it feels like the middle class is left to foot the bill without receiving any real benefits.
Take health insurance as an example. The government decided that an essential service like health insurance should be taxed at 18% GST. This means that individuals who are already paying a premium for the protection of their families now find themselves paying even more simply because they’re responsible enough to buy health coverage. It’s like the government is penalizing people for thinking ahead. Shouldn't we be encouraging people to invest in their health rather than taxing them for it?
Meanwhile, home loans and car loans remain financially crushing for the salaried middle class. With interest rates that seem to have no end in sight, individuals are stuck paying more than they bargained for. Home loan interest rates are especially painful, with many paying significantly more than expected, while car loans follow a similar trajectory. Add to this the ever-increasing road taxes and fuel taxes—taxes that are supposed to improve infrastructure, but in many cases, end up funding less-than-ideal roads and public services. So, where does all the tax money go?
And then, of course, there’s the elephant in the room: government schemes. While various subsidies and freebie programs are rolled out for the economically weaker sections, the middle class often finds itself excluded from these benefits. It’s as if the middle class, despite paying for most of these schemes, is left standing in line with nothing to show for it.
In this article, we will explore how the middle-class taxpayer is being pushed to their limit with taxes that feel punitive and unfair, and we’ll examine why it’s time the government took a closer look at how it’s treating this vital segment of society. Through the lens of real-world examples and the voices of ordinary citizens, we’ll uncover the extent to which the middle class is being taxed into submission and whether any relief is on the horizon.