MUST READ: Russell Lamberti Unpacks Budget 2013

The best analysis of Budget 2013 you would’ve read to date, by Russell Lamberti.

One snippet:

Research by ETM Analytics shows that if your taxable salary was R250,000 in 2012, and you got an inflation-linked increase of say 6% to R265,000 in 2013, your tax rate has increased and your after-tax income is LOWER in terms of its real purchasing power.

If your cost of living is actually 10% higher this year, then your new after-tax income is about 4% lower.  You got considerably poorer.

There’s more where that came from. Read the full article on the Mises SA blog.