Tax systems and security for senior citizens

In India, right from the time one finishes the education the worry of earning income starts. Once the income starts so does the cycle of paying taxes and you keep paying these taxes all your life. When you are working and you earn, you pay tax on your income, after that you pay tax on every commodity you buy and every service that you use. You invest money and you pay tax on the interest earned as well. There are so many Tax layers that probably more then 50% of your income goes into paying taxes at different levels.

What is disappointing is that after paying Taxes all your life when you retire one does not have any kind of security from the Government. All across the world there are Tax systems, and in some parts when one retires from that time onwards the Government starts giving some social security and covering up medical. But in India that's not the system. The person has to think about saving for the old age as well apart from taking care of all the living expenses. If you do not save enough, then probably you will have to look for work even after the retirement age or your standard of living will drop down. There is absolutely no security for senior citizens.

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The medical expenses are so high these days and if that gets taken care by the government under a social security scheme then that is a big relief for the senior citizens. Today 1 ailment and the cost of the treatment goes into lakhs of rupees. Medical companies also have their guidelines on what can be approved and what cannot be. 2 years back when my hubby was suffering from Myasthenia, for 8 months he was in and out of hospital and the hospital bill costed us 28 lakhs INR. The insurance companies refused to pay us stating Autoimmune conditions are not covered, whereas there was no such clause in the policy. We had to fight it out and eventually they paid, but it was a long struggle and fight. Imagine, can a senior citizen do all of these things. These days most of the ailments are autoimmune conditions, so if these companies do not pay where will the common man go. And the high insurance premium we pay is all gone in air filling up their pockets.

The Government of India seriously needs to think about the security of the Senior citizens in the same manner they think about implementing Tax on common people. It is unfair, that all their lives they work hard, they pay taxes and even in their old age they have to worry about meeting their expenses. They should not make Tax a way of looting people, which right now is the case.

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