The ANC has revived its wealth tax proposal

[TEXTILE GUY]

Everything government currently does can be done with at least half the tax money but they are both extremely corrupt and extremely inefficient. This shouldn't be surprising, they have zero incentive to do otherwise.

Unfortunately - the majority of the people who have the least assets and opportunities but the most stock of race and victim cards keep voting for the same government - and unfortunately they out weigh the rest of the people .... so here we are.

 

[shearder]

just like JHB zoo.. hand through the bars grabbing at the peanuts... MORE PEANUTS WE WANT MORE PEANUTS AND BANANAS YES MORE BANANAS>>> GIVE US MORE WE WANT MORE

 

[Mista_Mobsta]

ANC proposes wealth tax to fund universal basic income grant

The African National Congress (ANC) is bringing its proposal for an additional tax on South Africa's wealthier taxpayers to help fund the basic income grant (BIG) back to life, Sunday Times reported.

"BIG can be regarded as a mechanism to promote equity and thus a wealth tax can be a mechanism through which revenues can be raised to fund a BIG," its proposal read.

Such moronic thinking from the intellectuals that employ the likes of Sisulu and Mbalula!

Let's use wealth taxes to ensure our handouts are paid for - had they tabled a plan to use wealth taxes to build new schools and create employment opportunities for more teachers etc, it would have made a bit more sense. This is like slaughtering the cows to feed the lions! Utterly moronic thinking!

 

[Gaz{M}]

They are just trying desperately to buy 10 million votes to remain above 50% in the 2024 elections.

 

[MikeaMatrix]

Meanwhile the exodus of middle income and up earners continues unabated.
Tax base getting smaller every year. ANC just adding a bit more gasoline to the fire for votes.

 

[Harmonic]

Depending how it goes this could certainly be the last straw for myself and many others. We already pay top dollar for sh**** services, what could go wrong?

 

[Martin 007]

Fix, Unisa to enable everyone to study for free and upskill Unisa to the best of the best, electronic education should be very cheap. Every sort of skill needs to be developed in the country. Handouts are keeping everyone poor, R350 per month, 2 days wage, very meaningless.

 

[The_Techie]

“The problem with socialism is that you eventually run out of other people's money.”​

― Margaret Thatcher

 

[TelkomUseless]

Until they realise that the Wealth Tax targets largely ANC politicians and connected friends/ family that have stolen themselves into the top 5%, with the people they intended on taxing having left SA already

They conveniently forget to tax cadres....

 

[konfab]

There are already wealth taxes in SA.
Progressive income taxes are already taxes on the wealthy.
Capital gains tax is a tax on the wealthy.
Dividends from shares are already taxed, and that is something that only wealthy people pay.


The ANC's (and every other socialist to be fair) problem is that they take it as a given that wealthy people will always be in the country. What happens to their grand scheme when wealthy people start to leave?

edit:

The easiest way for the ANC to fund their dumb socialist policies is to allow the economy to grow by getting rid of their stupid laws constraining growth. When that happens, more people will earn more money, and thus will pay more tax. Sweden for example, does not have a minimum wage.

 

[JimM]

I've thought of a new game show... Win My Sofa!

 

[yebocan]

to be honest, -- the ruling has no intellectual depth, that is apparent....the policy ideas that flowed from their get together....sound dated, tired ...out of touch...like most of those political elites... -the nett consequence of that Polokwane Conference..., it unleashed the bottom of the barrel scrappers of the ANC, and it shows...was downhill from there...-- talking topics, the media must stop being antagonistic towards the ANC --wtf? Heritage sites investments, would unleash economic growth?

 

[Bigjay84]

This is what happens when the socialists in charge run out of your money to spend

 

[DreamKing]

R494 million

I don't have.

 

[TheMightyQuinn]

ANC proposes wealth tax to fund universal basic income grant

The African National Congress (ANC) is bringing its proposal for an additional tax on South Africa's wealthier taxpayers to help fund the basic income grant (BIG) back to life, Sunday Times reported.

"BIG can be regarded as a mechanism to promote equity and thus a wealth tax can be a mechanism through which revenues can be raised to fund a BIG," its proposal read.

Ib4 CRAP arrives with:

"We thought all Whites have lost their jobs due to BEEEE, how can they be paying these taxes?"
"Aren't all the Whites in Perth? How can they be paying taxes here in SA?"

 

[TheMightyQuinn]

I guess it would be best to just close down my company...put 3 people out of work...deprive SARS of that PAYE every month...and take my cash that I have in the bank en bring it overseas.

Done and dusted.

 

[Neuk_]

Aah, yes, the current worldwide standard of concentrating on what works and how 'unfair' it is instead of concentrating on what doesn't work and is the real cause of whatever issue they are trying to solve As I have said many times before, I am not middle class and no higher because Elon Musk is a billionaire anymore than someone isn't poor because I am middle class.

 

[tRoN]

Ib4 CRAP arrives with:

"We thought all Whites have lost their jobs due to BEEEE, how can they be paying these taxes?"
"Aren't all the Whites in Perth? How can they be paying taxes here in SA?"

where does it say that the tax will target white people ??

 

[Cosmik Debris]

Boiled them slowly...

View attachment 1357401

S'me! S'me!

 

[Cosmik Debris]

We should have a tiered VAT system. Basic goods and food requiring further preparation should be exempt. Luxury goods and thus purchased less often taxed higher.

That can even be applied to other essentials too. No proper public transport in SA means that entry level cars are zero rated while Mercs are upper tier and Lambo's extortionate tier. Same for insurance claims on theft and burglary. The police are incapable so any replacements should be zero rated.