No no, I don’t do nonsense like this. My point was more that people are similarly blind to the hype around crypto currencies.
Printing money is the worst option because everything that has been saved is worthless and we have Zimbabwe 2.0.
Jblack no the proposal is to tax wealth at a minimum of 3% per year. This obviously means that most pensioners will run out of money as they will have to withdraw about 7% per year out of their pension funds. Withdrawing 7% a year out of a pension fund is considered unsustainable by most experts.
Could it be that the car hi jacking industry suffers from the very same discrimination ?
These types of articles always get published just before the budget speech. It is like clockwork: year in, year out. I can’t help but feeling that the government sneaks these articles in, in an attempt to try and soften tax payers up for what is coming. They scare taxpayers with extreme forms of taxation, and in the budget speech, announce seemingly less punitive tax increases. Tax payers then express a sign of relief, and although the announced tax increase are unfair and punitive, they seem less bad than the alternative presented scenario. I wouldn’t be surprize if Judge Dennis and Pickety weren’t put on a retainer by the SA government for the purposes of this surreptitious PR exercise. The only thing that they do not realize – this type of scaremongering is literally driving people to emigrate, and is actually have a negative impact on the fiscus.
Infinite time frames are one of these loveable specialties of Africa. We eurocentric strange lot better get with the program.
Time is not fleeting – and madness is not taking its toll – in Africa.
Everything literally is stashed away in btc & eth.
Well not quite. In SA the “crime” of racism need not be proven in any usual court of law and supersedes any other real crime. It is more a Soviet / Chinese affair of guilty to some degree, never innocent; Kafkaesque I suppose.
The great thing for the squealing “black” doctors is that you get to commit fraud, get caught and then the medical scheme you have defrauded has to pay reparations because you were targeted in excess of your demographic proportion. Pierre de Vos heaven.
This is just more proof that, in general, sewage sludge comes out of learned minds (usually academia).
I marvel already what wonderful additional service the ” Rich ” will be getting in exchange for the additional tax. I think they will be overwhelmed by it and the eternal gratitude of the cadres that can steal again at levels they got used to and are deserving.
you are being generous. You’ve only done 3% on his paid off house and not the value of his pension. He should pay 3% on the pension too.
Luckily it isn’t annual tax, it’s a once off wealth tax.
Except that last line is a lie. Once you tax, you tax every year.
egghead, the problem is perspective:
they see this tax as an easy solution to balance the books
they really believe this tax will only influence a couple of people, in this case 350 000
to them it is a no-brainer, because they think they can save a bankrupt country
we know that these 350 000 people are the last to leave
when they are gone, they will not come back, and nobody will take their place
but you said it in one sentence:
the exodus is well on its way
leah, you say i do not have principles because i do not care about what other people do?
SA is the last nation on earth that should try this. We have a miniscule tax base. Even if a small percentage of the tax base emigrates as a result of wealth taxes, then the future of the country is dire. The country is running out of tax payers as is. This will only accelerate the exodus.
Scary stuff indeed. When the focus is not on tax spend yet more on tax collection, then we’re starting – or have already started – to go down a road which doesn’t seem to reward people for hard work anymore.
I’m all for fair share payment of tax, yet it goes with fair spend as well; wasteful, vanity projects, corruption etc is not fair and more collection won’t solve that problem. As well does SA want to become a nation dependent on SASSA payments? what about effective policing, healthcare and that sort of thing. The wealthy already pay for this in their private capacity, then through taxes they’ll – with some corruption/wastage – pay for others to receive them services, it’s a horror show, as currently those services are dire provided by the state, where is value for money.
This will just scare more wealth creators away me thinks, there’s no incentive to create wealth in SA with this sort of thinking
What a ridiculous comment. Anyone serious in the SA property business knows all about the auction syndicates. The strong-arming of deperate sellers, the intimidation of potential buyers, hell even the complete fabrication of auctions, ie ask Wendy Appelbuam and her run-in with Auction Alliance, that was way back in 2012.
No modern economy can survive load-shedding. No modern economy can survive constant lockdown measures. No modern economy can survive a socialist/communist government. No economy can survive when all the SOEs and most of the municipalities are bankrupt. No economy van survive when the majority of voters have the right to extort financial support from a small minority of taxpayers.
The struggling entrepreneurs and the remaining taxpayers are the real heroes in this country. They do not get the credit and respect they deserve.
By far the easiest way to buy US shares ie Netflix and Amazon is via EasyEquities. Download the app. Simple and cost effective. No minimums. You even get to learn using the demo account.
Profiling? Really? I’d rather say that some groups are possibly far more likely to commit claims fraud. Whose fault is that then? Those who catch them out?
If the liquidators had closed SAA down like they should have this little problem would not have come up. The dust would have settled and the employees would have moved on with their lives.
Just because a data set can be skewed along racial lines does not mean the data set was selected along racial lines. A more pertinent question would be to ask how many of the practitioners identified was eventually found to have lodged fraudulent claims? If a substantial quantity were found guilty the system works, if not it should be redesigned. Its as simple as that.
I am really getting tired of the equality issue in this country. The majority of nurses are women, does this mean we should bar women from nursing school and force men to join? The majority of convicts in prison are men, does this mean we should send innocent women to prison in order to obtain equality?
“The people from affluent communities are not affected by these issues. They have, you know, tap machines, swipe machines. You pay before you are seen, or you pay before you leave. They don’t have creditors. They don’t send accounts. And they are not impacted by this behavior of medical aids,” <<< What does he mean by this? That all practitioners of affluent areas are white? Must I now hold public hearings on the racist undertones of this claim? And must I write a report on this as well?
In 13 years of loadshedding not a single Eskom employee has been disciplined, let alone fired.
It is thoroughly naive to discount deliberate destruction as a prime cause of loadshedding.
We have seen vandalism everywhere “stakeholders” have “grievances”: long haul trucks; the railways; health, road and school infrastructure; and during industrial action fomented by untouchable unions.
Loadshedding is the ransom we pay if the ANC’s alliance and blessing partners are not obliged.
Growth is unlikely to be forthcoming as long as South Africa continues to show disdain for the value creators. Socialist inspired, policies like BEE, NHI, universal wage, expropriation without compensation do immense harm to the economy. We need to open our borders, drop tax rates, rollback restrictive labour laws, encourage skilled immigration, remove capital controls, drop public sector salaries. We need to pursue free market policies and do it as quickly as possible. If we continue along the current path of socialism, greater misery awaits us.
Boy this victim card is played HARD in SA
‘The National Planning Commission says the pandemic has further damaged SA economic prospects.’
Dont blame it on Covid.
Covid 19 just exposed the ANCs weaknesses. That is… They cannot run a country.
If we built a resilient economy from 1995 onwards… we would have been able to withstand shocks to the economy.
Last year over 70 000 people will have died from TB and not a word from Government or the press. Note that it is a curable disease !!!!
In winter the load shedding gets worse.
This is part of the diabolical situation we have the ANC to thank for.
ANC are just a conglomerate of thieves.
It’s called political influence, by the inept and corrupt ANC.
The same goes for SAPO and all the other SOEs.
LOL –As if the banks are the ones at fault for their defaults !@!
What a socialist diatribe !!