Deflation Gupta Style means having your R16.8 Million property valued at R490 000 in the municipal valuation roll. The municipal valuation roll is the basis for municipal property taxes. That’s less than 1/32 or about 3% of the valuation of their neighbour’s property. Let’s see, my home treated in the same manner would be valued at about R14 000 in the municipal valuation rolls and my monthly rates would be about R4.50. Now that’s smoking!
But seriously, if ever there were arguments for taking the tax process away from corrupt municipal agencies and changing from other manipulable processes, this has to be one of the more compelling arguments, namely that the process is so susceptible to manipulation. The Gupta example is just an extreme example of what can and does occur.
Have a look at the Direct Democracy Forum tax policies and ask yourself how nice would it be to know exactly what taxes you paid and know, without any shadow of doubt, that your neighbour and his neighbour and his neighbour’s neighbour would all pay exactly the same proportional level of tax that you pay, even if your neighbour’s neighbour was a Gupta. A DDF administration will deliver TEAL and that absolute certainty.
The buck stops at the ballot box.