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.
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.
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.
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.
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.
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.
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.
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.
Ahead of next week's mid-year economic and fiscal outlook, the government has been hit with the sobering news that real GDP shrunk in the September quarter.
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.