Wealth tax - Can this be used to make SA rich?
By Opinion
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A wealth tax may be the fastest way to plug the holes in government finances, but itâs dangerously unsustainable, according to Hannes Van Den Berg, CEO of Momentum Consult.
Last week saw the arrival of the first Covid-19 vaccines on our shores. They are the first batch of a total of 500,000 that are being provided by Johnson & Johnson (J&J) to South Africa free of charge.
But the next lot that weâve procured (another 9 million doses from J&J) will need to be paid for. Against a backdrop of dire economic growth, record unemployment and low tax revenue, the obvious question is: how are we going to pay for them?
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A wealth tax may be the fastest way to plug the holes in government finances, but it’s dangerously unsustainable, according to Hannes Van Den Berg, CEO of Momentum Consult.