Better that you listen to Honest Abe and remain silent, Mr Zuma

by Alec Hogg

Abraham Lincoln, 16th President of the United States of America, is credited with saying "Better to remain silent and be thought a fool than to speak and to remove all doubt."

I couldn't help thinking about Honest Abe's advice when reading how, after years of denial, South Africa's third democratic President finally admitted the economy is sick – and now urges business and labour to prioritise saving jobs over "profit margins and wage hikes." Showing an understanding of business and economics that's, well, pretty close to zero.

This is the same man who appointed and then allowed a raft of unqualified pals to run amok at State Enterprises; who just months ago told us SA has "a good story to tell"; whose deputy wastes millions hiring a jet owned by the President's own son and close buddies the family Gupta; and who defends a R246m "security upgrade" on his private residence.

Sometimes narcissism beggars belief.

From Biznews community member Irvine Green

If profit margins are reduced by employing unproductive people, there is less tax received… tax paid by those who are still in unproductive jobs will not be able to cover the tax on profits lost… And the spiral downwards will increase in speed.

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