Experts respond to proposed tax increases in South Africa

Hanno Labuschagne

MyBroadband
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Flywheel

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One of the highest marginal tax rates in the world, and they want to increase it. They must really want people to leave.. :crying:

They're not forward thinking - all they can plan for is limited to the next election and nothing beyond that.

You cannot tax a country and expect wealth. That's like collecting water with a bigger bucket from a Jojo tank, and then wondering why the tank is emptying so soon.
 

Goosfrabba

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"Cut the total government wage bill by allowing only small increases for a decade to government employees."

Yeah, COSATU definitely won't burn down the country over that
 

surface

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I am afraid to ask - what is a "higher earner" ?

The Economic Advisory Council, therefore, advised increases to the fuel levy and estate taxes and a three-year “solidarity tax” that would increase income tax for higher earners.

These tax increases echoes comments made by the National Treasury’s chief director Edgar Sishi in July.
 

Solitude

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I am afraid to ask - what is a "higher earner" ?

Probably middle class and higher. It makes me sick. We work so hard. Things are so expensive. Economy is tanking.

I'm lucky that I kept my job during 2020. A lot of people didn't. But I didn't get a raise and prices increased all around us. And then the tax increases are coming.

The government will continue wasting the money, going even more into debt, and we will pay for it all.
 

eg2505

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The government will continue wasting the money, going even more into debt, and we will pay for it all.

you get what you voted into power.
just like Venezuela, once a rich country, now dirt poor and plagued by unrest.

I'm waiting for it to happen here.
 

Neuk_

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They're not forward thinking - all they can plan for is limited to the next election and nothing beyond that.

You cannot tax a country and expect wealth. That's like collecting water with a bigger bucket from a Jojo tank, and then wondering why the tank is emptying so soon.

Same old story, history repeats itself and they will not learn...

"For a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle." - Winston Churchill
 
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