Treasurer wants to cut company tax. Australians need a pay rise
Scott Morrison is calling for Trump-style tax cuts.
The Federal Treasurer has just been in America, where initial results of Donald Trump’s corporate tax cuts have shown a positive economic response.
President Trump slashed the company tax rate from 35 per cent to 21 per cent, and there are also incentives and allowances for investment.
[Thread] This is where we’re at. Workers haven’t had a meaningful pay rise in years. Meanwhile, company profits are up a healthy 40%.— Queen Victoria (@Vic_Rollison) January 30, 2018
'Australians need a pay rise': Bill Shorten says. Morrison: weak wage growth doesn’t contribute to rising inequality https://t.co/jnVo5vxiGY— Paul Barratt (@phbarratt) October 11, 2017
And Mr Morrison told Melbourne Radio 3AW it’s promoted innovation, research and development, and wage growth.
“It’s doing what it intended to do, which is why we’re pursuing similar policy here,” he said on Monday.
The government has already cut the tax rate for small businesses, but Mr Morrison said he wants cuts for all businesses to bring Australia on par with countries like the US, France, and the UK.
Well, that isn’t so cut-and-dry.
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