ROB ROSE: Wealth tax no Covid cure
It’s an enticing idea – a wealth tax on the rich to boost SA’s desperate search for Covid-19 funding. But it’s a remedy that won’t really work
23 April 2020 - 05:00
"Confidence is what you have before you understand the problem" is a catchy phrase attributed to Woody Allen. It’s also the way that Iraj Abedian, CEO of Pan-African Capital, thinks about the catchy concept of a wealth tax, which has been touted as a way to raise a war chest to fight Covid-19.
"It sounds so simple, but that’s deceptive. We don’t even have agreement on how to define wealth, never mind how to practically tax such a malleable concept. To talk about instituting such a complex tax now, in the middle of this crisis, just won’t work," says Abedian...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.