Positive earnings reports from US retail giants helped support sentiment in Wall Street overnight, but attention is on the future of monetary policy
Though highly skilled, SA farmers need access to support services to meet consumer demand for close-at-hand ethically farmed, organic produce
Durban plant may be at full steam only next year, with lost production of 68,600 vehicles likely
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
Higher-than-inflation increases for diesel, steel and chemicals have contributed to an expected decrease in headline earnings
July credit and debit card transactions and vehicle sales show us demand is strong
New survey highlights the gender imbalance that has overshadowed SA’s corporate sector for years
PM Anthony Albanese said Morrison’s ‘dictatorial’ control of the home affairs, treasury, health, finance and resources portfolios was ‘a trashing of Australia’s democratic system’
England Test captain says he hopes his team has retained their “venom” before the three-match series against SA
Remarkably easy to travel to and magnificent to behold, the Falls are the top attraction of this Zimbabwean town with decent hotels and outdoor activities
Fifteen years ago, 78% of personal income tax was paid by 32% of taxpayers. Now 80% of all personal income tax is paid by 25.7% of taxpayers. This is an unsustainable picture, with the personal income tax to GDP ratio now at 10%, significantly higher than the Organisation for Economic Co-operation and Development average of 8%. It is not unsustainable only because it is high relative to other countries. It is unsustainable because, as economists and taxpayers know well, there is only so much tax individuals are prepared to pay before they look for ways of evading payment.
In economics, this is described by the Laffer Curve, which illustrates the premise that the more an activity is taxed the less revenue it generates. In everyday parlance it is known as being gatvol.
That middle class and wealthy taxpayers are genuinely gatvol was illustrated in a graph circulated ahead of the budget by accounting firm PWC. The graph, which illustrates the main budget tax to GDP ratio, shows that de...
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