South Africa's default answer to underlying problems like unemployment, poverty and inequality has been for government to spend more. Sounds good hey? Well in this time unemployment has increase, poverty has increased and inequality is higher than at the end of Apartheid. Why? 
Money is never going to be enough if so few work and can pay taxes for the many on grants. Also, the government believes that government can fix everything but does not work hard itself. when you have the 7th high company tax burden to GDP in the world, you chase jobs away
SA also already has the 10th highest personal income tax burden in the world. Then we also have every higher wealth taxes and the threat of taking property away. No one in their right mind is investing here without government guarantees which they cannot provide outside the few.
SA is becoming poorer in relative terms to the rest of the world every year. Our policies often do not make sense to businesses and investors. We are the ONLY emerging Market with more homegrown business investing elsewhere than outside investing here?
Yet the penny has not dropped. Instead, we reward the people who cause damage to institutions and businesses. Think Union strikes and damage, fees must fall, the recent looting. In each case, the unhappy get money thrown at them. The entrepreneurs see this & go elsewhere
Perhaps it is time that business speaks up. But they won't because they are scared to lose even more. So the money leaves silently. so silent in fact that few know that even politicians and lefty NGO bosses take much of their money offshore. SA is now truly living a lie
People say one thing and do another. No, it is not just these hateful rich white bastards. It is actually getting to the point of the absurd when Union leaders do the same. The Private Bankers from tax havens visit and bring passports and take out money.
I would not be surprised if even gangsters are doing the same. Police tell you they are catching gangers but help them smuggle liquor and drugs during the lockdown. Most restaurants & clubs pay protection fees to gangers to operate.
The government talks but no one is arrested because SA has become a criminal state. When business and union leaders are involved in taking their investments and money offshore then you have little chance of success. Government will not stop this by spending more
Before I forget the NGO people are also always looking to get themselves and their money out. In the last decade, I have been phoned at least five times from overseas universities about our lefty academics. So they also spend time looking for a way out. We are living the lie.
Theatre it's just great theatre! Everyone is just acting a part but when they get home the mask comes off and they shout at the domestic and hide the taking from the taxman. Then they phone their friendly broker to put a few more cents in the Bahamas. Perfect
• • •
Missing some Tweet in this thread? You can try to
force a refresh
