Quote of the week

A few months ago, author William Gumede described Zuma as someone with a narcissistic personality disorder — a set of traits defined by Austrian psychoanalyst Heinz Kohut as “including an exaggerated sense of superiority, a lack of self-awareness about the impact of their behaviour and having a disdain for others, who they devalue to validate their own grandiosity”. These people lack empathy, have a distorted sense of reality and are incapable of seeing anything from anyone else’s perspective. Narcissists like Zuma, Gumede argues, can’t accept responsibility and don’t care if they take down entire countries with them. The events at Nkandla, sadly for Zuma, only reinforced that perspective.

Rob Rose
Financial Mail
11 June 2020

Piketty n inheritance

It struck [Thomas Piketty] as odd the Australian Government imposed no taxes on those who had been bequeathed multi-million-dollar properties, while governments in the United States and Europe taxed the same gifts at between 40 and 45 per cent. “Japan just raised its top inheritance tax rate from 45 to 55 per cent last year,” Professor Piketty said. “This was under a right-wing government by the way and I don’t hear Angela Merkel or I didn’t hear Cameron in Britain say he wanted to reduce the inheritance tax of 40 per cent to the Australian level of 0 per cent so this [Australia] is very unusual.” The author of the best-selling book Capital in the 21st Century said while small inheritances of 100,000 or 200,000 could remain tax free, it made perfect sense to levy tax on property transfers worth millions of dollars.

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