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Speculation is rife in anticipation of next week's budget speech. Will Finance Minister Pravin Gordhan announce tax increases? Might the tax rate for personal income above R617 000 increase to 42 percent? Might it even return to 45 percent for the portion of income...
Revenue from personal income tax is part of how governments are able to fund the type of society they imagine. In the case of South Africa, the government presents a vision of a more equal society, striving to lessen inequality and right the wrongs of the past. For...
'There is no money!' This is the standard response to the demands with which the government continues to be bombarded by people whose basic needs have still not been met after nearly 20 years of post-apartheid rule. People in South Africa are angry and impatient in...
Cosatu general secretary Zwelinzima Vavi responds to an opinion piece in Friday’s Business Day by Adcorp’s Loane Sharp that ‘SA trade unions are the biggest obstacle to job creation’. He calls it “hogwash” that would not have shocked Joseph Goebbels, “whom Mr Sharp...
The Occupy Wall Street movement has captured much the nation’s attention with a clear message: A U.S. economy driven by the interests of business and the wealthy has generated increasingly unequal economic outcomes where the top 1 percent did exceptionally well but...
What if debt deflation strikes, will the Eurozone’s financial elite still bay for sound finance? Finance capital’s imposition of fiscal austerity on both sides of the Atlantic – and this at a time when private consumption and investment are stagnating – is pushing the...