Is South Africa ready for a Wealth Tax?

#MindFM we need to get to grips with current affairs 👀🙆🏿

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Photo Credit: Free Market Foundation

South Africa is the most unequal society in the world. In terms of income distribution and wealth concentration, the disparities between the poor and the rich are terrifying.

Twenty-six years into democracy, little to nothing has changed in the lives of the majority of natives that make up 81% of the population, and over 70% of them live in absolute poverty. The vast structural problems made up of inequality, poverty and unemployment have made the situation hopeless and depressing.

The stubborn concentration of wealth in the hands of a few is a fundamental challenge, especially considering how this wealth was acquired and how, in a democratic society, there are still bureaucratic mechanisms firmly entrenched and put in place to ensure that patterns of ownership of the economy remain largely in the hands of the White elite.

Just by looking at the JSE, one gets an…

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