Why South Africa must cut taxes

Hanno Labuschagne

Hanno Labuschagne

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Why South Africa must cut taxes

South Africa can generate more tax revenue by lowering taxes, which will create additional wealth and stimulate the economy.

It may sound counter-intuitive that more tax revenue can be collected through lower taxes, but it has been proven to work in many cases.

[Daily Investor]
 
Before reducing or increasing taxes, simplify them.

Get rid of all the complicated taxes, that stifle trade. Import duties and tariffs for example.

And the inheritance taxes, because it's taxing the same money twice.

And all the administrative taxes, like fees for ID books, passports, drivers licenses, TV licences. The cost of administering those alone is too high.

Capital gains should also be reconsidered, you should not be taxed on making investments or savings.

Property taxes should also be simplified. The same rate should apply across the entirely municipality and a 50-80% rebate provided if it is your primary residence. That should also assist in reducing the corporate takeover of the rental market that is happening. Different rates should also apply for commercial or industrial zoning. Exceptions should be time limited.
 
Not going to happen. The ANC will be violently overthrown by their own people. Taxes will be increased.
 
Hanno Labuschagne said:
Why South Africa must cut taxes

South Africa can generate more tax revenue by lowering taxes, which will create additional wealth and stimulate the economy.

It may sound counter-intuitive that more tax revenue can be collected through lower taxes, but it has been proven to work in many cases.

[Daily Investor]
Click to expand...
Its proven to work in many cases where the Government's primary mandate is not "rob the working class".
 
RonSwanson said:
Thomas Sowell, what a waste of melanin.
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While not a Herschel Walker or Kayne West he is another Herman Cain - slavish devotion to his chosen ideology over common sense or logic.

The fool said people should rather vote for Trump than Hillary even when he said previously that Trump lacked principles other than promoting Donald Trump.
 
The gov will never reduce tax.

If I had it my way, tax (PIT) should be a fixed percentage for everyone. The more you earn the more you pay but in a more fair manner
 
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Sapphiron said:
Before reducing or increasing taxes, simplify them.

Get rid of all the complicated taxes, that stifle trade. Import duties and tariffs for example.

And the inheritance taxes, because it's taxing the same money twice.

And all the administrative taxes, like fees for ID books, passports, drivers licenses, TV licences. The cost of administering those alone is too high.

Capital gains should also be reconsidered, you should not be taxed on making investments or savings.

Property taxes should also be simplified. The same rate should apply across the entirely municipality and a 50-80% rebate provided if it is your primary residence. That should also assist in reducing the corporate takeover of the rental market that is happening. Different rates should also apply for commercial or industrial zoning. Exceptions should be time limited.
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I agree with everything you’ve mentioned. However, the tax progression curve is far too aggressive as well.
 
Darth Garth said:
While not a Herschel Walker or Kayne West he is another Herman Cain - slavish devotion to his chosen ideology over common sense or logic.

The fool said people should rather vote for Trump than Hillary even when he said previously that Trump lacked principles other than promoting Donald Trump.
Click to expand...

That certainly speaks to just how bad Clinton actually was and still is. Thomas is clearly someone who came to his senses after his Marxist early 20s, and I personally hold him and his later works in high regard.

How many books on economics did you say you wrote again?
 
Blackhand said:
I agree with everything you’ve mentioned. However, the tax progression curve is far too aggressive as well.
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Agree, its milking the middle class too much while not milking the super rich nearly enough.

As I saw someone else say on reddit today. "The only minority ruining this country, is the rich"
 
The administrative load is enormous, there comes a time when this cannot be afforded.
Simplicity kills corruption, Complexcities hides Modern Corruption. VAT taken on Modern Corruption may become a headache once this is understood, how to reverse.
 
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