Thoughtz On Budget Speech

1186 words - 5 pages

Introduction
The past disadvantaged have found appreciation through redistribution in South Africa but is it growing or destroying the country. Redistribution is recognised as the transfer of wealth, income or property from some individuals to others caused by the social mechanism such as tax laws and monetary policy. Redistribution is crucial in South Africa because in the past years before 1994 black people were disadvantaged because the government did not allocate appropriate resources to the as the country was under apartheid laws, So the new government voted into parliament in 1994 introduced policies such as the black economic empowerment which empowered black people to be given a ...view middle of the document...

g. land, education e.t.c.) by the government so there was no peace in the country, so the new south African government of 1994 redistributed what the black society had lost by giving them back their land, better education and this was done by introducing new tax laws, the country has been stable and in peace since then as the result now south Africa is seen as a developing country that is worth investing in as such the economy of this country has been growing. Redistribution is important in South Africa because of the human intrinsic sense of fairness, once everyone in a country feel that they are equal to each other then the more productive will that country be and that is why the South African policies promote equalness amongst the society otherwise if the society did not feel this the country would be like countries such as Congo, Somalia e.t.c where people are killing each other just because the society does not feel that they are being treated fair by the government. Redistribution policy has made South Africa the number country that has economic and society stability in Africa this proves redistribution is good for as country that wants to live in a democratic society.
Disadvantages of Redistribution
Even though redistribution maybe good for a country but it also has its disadvantages for society. Redistribution of wealth is bad because wealthy people create opportunities for society at their cost, a rich person has the resources to invest on businesses and create jobs but if there is high taxes so how can they be able to employ more workers and increase the standard of living for a poor person if they have to pay these taxes, South Africa has been a victim of high unemployment as many companies have closed down resulting in many people being retrenched, so as the result of lack of entrepreneurs the country’s economic growth has declined as there is high unemployment. Redistribution of wealth is corrupt because it relaxes the poor and reinforces the tendency of most people to be lazy, in South Africa woman who have given birth are granted a right to apply for monthly allowance from government because of this the pregnancy rate has increased as women believe if they have more children the greater you...

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