UCT head wants to increase wealth tax: Not only for the Ruperts

UCT head wants to increase wealth tax: Not only for the Ruperts

- UCT vice-chancellor Professor Mamokgethi Phakeng wants to introduce a wealth tax in SA

- Phakeng insists if those with more contributed, the country would be a better place

- But the philanthropist doesn't think this tax hike should only affect the Ruperts

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Professor Mamokgethi wants discussions about introducing a wealth tax to be revived.

The University of Cape Town vice-chancellor feels that the rich have found ways to avoid coughing up the maximum about of revenue.

BusinessLIVE reports that Mamokgethi doesn't feel this tax should target the richest, but also those who earn in excess of R3 million a year including herself:

"When we talk about these things, people want it to affect the Ruperts only. I think it should affect them more but it should go down as well."

READ ALSO: COSATU wants to hike taxes in bid to financially rescue South Africa

The beloved educator currently contributes a portion of her salary towards bursaries and feels this is the true act of giving:

"Sometimes I look around and I think actually, if each one of us gave a little bit of what we have, the country would be a little different . You don't give from your excess, you give from what you have. That's true giving. If you give from excess . that's like throwing away."

Briefly.co.za reported that trade union COSATU has earlier called for a boost in the income revenue received for the rich, but a more lenient system for citizens who earn less.

COSATU had agreed that those who make up the wealthy in Mzansi should carry a heavier burden when it comes to filling the gap between the funds SA receives versus what gets spent.

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Source: Briefly.co.za

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