I agree, there are still too many deterrents to business, particularly SMEs, in South Africa. However, I really don’t see how you read my article and think I’m talking about “employees”. My discussion is about national economic policy. The three points I make are not particularly for “employees” but rather for the interests of our country as a whole. I’m talking about the best ways to raise tax to pay for public services that we do need. I’m talking about how to ensure that South Africans benefit from our limited natural resources. I’m also taking about the crude complaint from the DA about “higher taxes” now suddenly, as if the current level is optimal.

Actually, just to be clear, did you read this part of my original post? Given that I’ve agreed with your point about the impact of taxes on employment, maybe take another look at the rest of the points I was making.

The reality is that, considered on their own, higher taxes will reduce rates of return to shareholders. This will make marginal operations unecnomical, which could result in job losses.

I don’t really think it is all a confidence game, although the is of multiple equilibria with government bond yields is interesting n related to confidence I suppose. Thanks for he continued comments.

Europe, US, Japan, South Africa; its all a confidence game isn’t it ? Once the confidence goes, all bets are off.