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Thread: Expect drastic decision in budget speech on funding free education – Gigaba

  1. #16
    Grandmaster Tander's Avatar
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    Quote Originally Posted by thestaggy View Post
    I actually hope they raise VAT so the halfwits that made the most noise about free education can actually see how ''free'' things work in the real world.
    They' will never raise VAT; as has been mentioned earlier, the haves will get hit harder. @Hamster probably has it spot on:

    Quote Originally Posted by Hamster View Post
    Wealth tax
    Increase in dividend tax
    Increase in CHAT
    VAT remains at 14%

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    Quote Originally Posted by Tander View Post
    They' will never raise VAT; as has been mentioned earlier, the haves will get hit harder. @Hamster probably has it spot on:
    They can't do a wealth tax as it's completely unworkable. It will be income & dividend tax increases.

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    Resident Rodent Hamster's Avatar
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    Quote Originally Posted by Tander View Post
    They' will never raise VAT; as has been mentioned earlier, the haves will get hit harder. @Hamster probably has it spot on:
    Dafuq is CHAT... /fixes

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    Super Grandmaster f2wohf's Avatar
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    Quote Originally Posted by JayM View Post
    They can't do a wealth tax as it's completely unworkable. It will be income & dividend tax increases.
    Why would it be?

    You just need the property valuations (the municipalities already have that) + the banks, stock accounts and access to CIPC's database.

    Not really hard.

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    Haven't seen anybody mention a graduate tax, which I think is very possible, if not likely. That way they can sell it as "you benefited from tertiary education, now you need to pay so that others can as well."

    Queue anybody with a tertiary qualification being levied with an additional tax.
    Quote Originally Posted by Rouxenator View Post
    Aye, but 'tis rare. That's my thing, rare no matter if it's POS

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    Quote Originally Posted by f2wohf View Post
    Why would it be?

    You just need the property valuations (the municipalities already have that) + the banks, stock accounts and access to CIPC's database.

    Not really hard.
    Pretty hard if you start hiding those things in trusts and such.
    Quote Originally Posted by Rouxenator View Post
    Aye, but 'tis rare. That's my thing, rare no matter if it's POS

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    Bulls fan Vrotappel's Avatar
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    On wealth taxes:

    Trump proposes massive one-time tax on the rich

    Wonder if the ANC has the same idea?
    If you don't know where you are going any road can take you there
    Accuse the enemies of that which you know you are guilty

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    Super Grandmaster f2wohf's Avatar
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    Quote Originally Posted by Messugga View Post
    Pretty hard if you start hiding those things in trusts and such.
    There are no blind trusts in SA, so it's pretty easy to identify the beneficiary.

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    Super Grandmaster xrapidx's Avatar
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    Quote Originally Posted by Messugga View Post
    Haven't seen anybody mention a graduate tax, which I think is very possible, if not likely. That way they can sell it as "you benefited from tertiary education, now you need to pay so that others can as well."

    Queue anybody with a tertiary qualification being levied with an additional tax.
    That targets the people who burn and destroy **** - doubt they'd go for it - my bet is they'll target the middle class.

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    Verboten Pitbull's Avatar
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    Quote Originally Posted by Adrianax View Post
    I suspect VAT will increase. Everyone will pay for this mess.
    Came to post this. Probably 2%
    Deutschland, Deutschland über alles, über alles in der Welt! Avatar compliments of saor

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    Quote Originally Posted by xrapidx View Post
    That targets the people who burn and destroy **** - doubt they'd go for it - my bet is they'll target the middle class.
    Graduates become middle class eventually.
    Quote Originally Posted by Rouxenator View Post
    Aye, but 'tis rare. That's my thing, rare no matter if it's POS

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    Super Grandmaster f2wohf's Avatar
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    Quote Originally Posted by Messugga View Post
    Graduates become middle class eventually.
    That's how it is in every developed country, there's nothing wrong with that.

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    Grandmaster Tander's Avatar
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    Quote Originally Posted by Hamster View Post
    Dafuq is CHAT... /fixes
    /shurg - I figured it was something since you had it in uppercase and everything.

    Wealth Tax == taking higher in PAYE IMHO.

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    Quote Originally Posted by f2wohf View Post
    Why would it be?

    You just need the property valuations (the municipalities already have that) + the banks, stock accounts and access to CIPC's database.

    Not really hard.
    The devil is in the detail. Large scale disputes over valuations will make the whole thing more expensive to maintain that what they'll get out of it. Capital flight and emigrations will hit astronomical levels. A 60 year old with a paid off house and low cash flow will have to sell his house just to pay the wealth tax. Valuing businesses is extremely difficult - how will business owners be taxed on this? Say my business is worth 20 bar, but I make a loss one year and can't afford to pay the wealth tax - do I just close it down?

    First world governments with good tax collection departments have struggled with this for decades - there is no way SA can implement it in a profitable and equitable manner.

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    SmoothOokerMaximus The_Librarian's Avatar
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    meh, thank you Zuma.
    500th anniversary of the Protestant Reformation has passed.

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