Today, Friday May 21, is Tax Freedom Day, when South Africans stop working for the state and start working for themselves. This year it falls two days later than last year, in which it occurred one day later than in 2019. This is alarming because it means the economy contracted.

While spending and wages also contracted, profits did so to an even greater extent. Therefore, taxes ought to have contracted more than the economy and Tax Freedom Day should have been earlier...

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