SA should steer a new course, one where the market is not suffocated and growth the number one target. It is time now to scrap minimum wages, BEE and to privatise some bankrupt state-owned entities.
In exchange, a basic income grant should make up for any perceived losses from removing minimum wages and BEE. Minimum wages are merely redistributing wealth from the 40% black people who are unemployed to the 60% black people who are employed.
BEE is redistributing wealth from 99% of black people to the 1% black people who are benefitting. Redistribution of wealth from white people only occurs from taxes. However, a basic income grant can be financed from these taxes in a growing economy. This should be the horse trading occurring within the GNU.
Naushad Omar, Cape Town
READER LETTER | Economic growth should be SA's number one target
SA should steer a new course, one where the market is not suffocated and growth the number one target. It is time now to scrap minimum wages, BEE and to privatise some bankrupt state-owned entities.
In exchange, a basic income grant should make up for any perceived losses from removing minimum wages and BEE. Minimum wages are merely redistributing wealth from the 40% black people who are unemployed to the 60% black people who are employed.
BEE is redistributing wealth from 99% of black people to the 1% black people who are benefitting. Redistribution of wealth from white people only occurs from taxes. However, a basic income grant can be financed from these taxes in a growing economy. This should be the horse trading occurring within the GNU.
Naushad Omar, Cape Town