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Wealthy South Africans should foot the bill for the basic income grant, says IEJ

Summary by Ground News
South Africa's top income earners should pay a wealth tax to fund the basic income grant (BIG) This is according to the Institute for Economic Justice (IEJ) and the Applied Development Research Solutions. A 1% wealth tax would generate revenue of about R70 billion. Other proposed ways of funding the BIG would use a social security tax and an increase in VAT.

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News24News24
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Wealthy South Africans should foot the bill for the basic income grant, says IEJ

It's estimated that a wealth tax could generate revenue of about R70 billion that could go towards funding the basic income grant.

·South Africa
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News24 broke the news in South Africa on Wednesday, December 13, 2023.
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