Research shows there is a link between tax cuts and increased business investment, but the effect is likely smaller than politicians and businesspeople say.
Slightly more optimistic economic figures gives Scott Morrison and the Turnbull government a boost heading into 2018, as the charts explain.
Lukas Coch/AAP and The Conversation
A provision in the House’s pending tax bill would let religious and secular nonprofits engage in political speech without facing a penalty.
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
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.
Malcolm Turnbull is operating on tactics rather than strategy.
Jeremy Piper/AAP
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.
Voodoo doll or an illustration of the Republican tax plan on income inequality?
Rainer Fuhrmann/Shutterstock.com
Supply-side economics is the intellectual backbone of the argument that tax cuts for the wealthy will boost business investment, wages and growth. The evidence suggests otherwise.
Why so grim? Oh, tax cuts.
AP Photo/Pablo Martinez Monsivais
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.
Taxing inherited wealth builds in an incentive for the rich to give more and splurge less.
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The administration wants to cut the tax rate on so-called pass-through entities, which is likely to lead to creative tax planning and outright evasion, damaging faith in the system.
A federal housing incentive could have untapped potential.
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With some tinkering, a federal tax credit that encourages developers to create new units that low-income Americans can afford to rent might yield other benefits.
Keeping companies in the UK will be a huge task for whoever ends up in Downing Street.
White House Office of Management and Budget Director Mick Mulvaney presents the Trump administration budget entitled ‘A New Foundation for American Greatness’.
Jim Bourg/Reuters
Trump should drop his plans to cut taxes and instead look to some of our closest friends to learn what policies actually work to build and sustain a vibrant middle class.
Treasury Secretary Steven Mnuchin offers details of his boss’ proposed tax cut. ‘It’s big.’
Carolyn Kaster/AP Photo
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.