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Each year the government runs a A$40 billion deficit, it increases the lifetime tax burden for households headed by a person aged 25 to 34 by A$10,000. Lukas Coch/AAP

Young Australians will wear the costs of Turnbull’s middle income tax cut

Unless the government is willing to increase taxes elsewhere to pay for tax cuts there will be longer-term costs for the budget and the economy. And younger Australians will wear these costs.
The proposed tax bill could make higher ed even less affordable. AP Photo/Rich Pedroncelli

How the tax package would slam higher ed

Republican lawmakers say the proposed changes to the tax code would 'streamline' higher ed benefits. But this overhaul would squeeze many, if not most, students and schools.
Why so grim? Oh, tax cuts. AP Photo/Pablo Martinez Monsivais

Why tax cuts make us less happy

The Republican tax plan would ultimately make the current system less progressive while reducing the overall burden, two things research shows make countries less happy.
Treasury Secretary Steven Mnuchin offers details of his boss’ proposed tax cut. ‘It’s big.’ Carolyn Kaster/AP Photo

Would Trump’s tax cut be the biggest ever? Fat chance

The bar for achieving that lofty goal was set almost 150 years ago when Congress cut taxes from as high as 10 percent to zero over two years.
In trickle-down economics , accommodating for big business creates flow on effects for other smaller parts of the economy. www.shutterstock.com

Explainer: trickle-down economics

The basic idea of trickle-down economics is that giving economic help to companies or people at the top of society should generate benefits for those in layers further down.
Scott Morrison said the quarter’s weakness was broad based but the dominant cause of the contraction was the decline of 3.2% in new business investment. Lukas Coch/AAP

Government calls for co-operation after hit with negative growth figure

After the national accounts showed the economy going backwards in the September quarter, Scott Morrison called for "partners" in the parliament to drive the government's economic plan through.

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