Thread: The Myth of Islamic Caliphate
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Old Thursday, July 24, 2014
mhmmdkashif mhmmdkashif is offline
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Originally Posted by Subhan Ahmad View Post
Nah, it distributed wealth, not destroyed it. And by not needing zakat money means they were pushed enough to start earning for themselves. So everyone starting contributed in the economy. You are ignoring that zakat money stopped distributing after three years. There was no needy left. So it depends on how you are looking at it BTW zakat is 2.5% annually if you have surplus. Means you still retain 97.5% of you wealth. How many % taxes do the financial institutions go through on annual basis?
Hmmm Hazrat Umar (RA) reigned during a period when Islamic empire was 'expanding' through military engagements, so the economy would be supporting the 'war effort' largely. During such times economies produce total employment and wealth doesn't have primary importance as it is highly controlled . Its a different economic scenario overall and can't be compared with normal economic competition.
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