Weatherman2020
Diamond Member
Winning.
So, it looks like the Trump effect has gone international. After signing the most extensive tax reform in 30 years into law today, Australia’s treasurer warned his country that the Land Down Under could be left in the dust. The economy risks a one percent reduction in GDP if they don’t respond to our tax package, especially the corporate tax rate. Treasurer Scott Morrison said if parliament doesn’t act, Australian jobs, wages, and investments could be put in the crosshairs. Morrison is prepping a $65 billion cut of his own as well (via The Guardian):
He has seized on Trump’s tax cuts, overhauling his justification for his proposed $65bn tax cuts to say they are now necessary not because they will add 1% Australia’s GDP growth, but because they will offset a damaging 1% hit to GDP that will supposedly flow from the huge tax cuts in the US without Australia responding.
Keep reading…
So, it looks like the Trump effect has gone international. After signing the most extensive tax reform in 30 years into law today, Australia’s treasurer warned his country that the Land Down Under could be left in the dust. The economy risks a one percent reduction in GDP if they don’t respond to our tax package, especially the corporate tax rate. Treasurer Scott Morrison said if parliament doesn’t act, Australian jobs, wages, and investments could be put in the crosshairs. Morrison is prepping a $65 billion cut of his own as well (via The Guardian):
He has seized on Trump’s tax cuts, overhauling his justification for his proposed $65bn tax cuts to say they are now necessary not because they will add 1% Australia’s GDP growth, but because they will offset a damaging 1% hit to GDP that will supposedly flow from the huge tax cuts in the US without Australia responding.
Keep reading…