US president-elect Donald Trump’s manifesto creates tax haven, by Grace Collier.
I did something hardly any commentators have done. I bought a copy of Donald Trump’s book Great Again: How to Fix Our Crippled America and read it.
Everyone is encouraged to do the same. You won’t regret it, I promise. The book is illuminating, fantastic and terrifying. It is the best political book I have read.
Recently, a friend saw the book lying on a side table, at home. “Oh, but Trump is a racist, bigot, homophobe and sexist,” she exclaimed in horror.
“Meh — whatever,” I replied. …
Trump’s America to zoom ahead of Australia?
Trump is going to hurt Australia by making America great again.
When America is great again, and this will happen quickly — in fact, it is already happening and Trump hasn’t even taken office — Australia will be left behind.
We will be like the pub no one drinks at any more, the once-popular restaurant everyone shuns. America will be like the shiny new joint just around the corner, with amazing decor, stunning food, incredible service, cheaper drinks; we won’t be able to compete.
The markets know it, American companies know it, their citizens know it, yet we still haven’t realised. …
How? Taxes and incentives.
A “trigger warning” for all those who think the solution to every problem is to raise tax or introduce a new one. Here is some bad news, snowflakes: there are lots of people here who own small to medium businesses, and/or have capital; these people provide jobs, have driven the housing boom and are propping up our economy. They don’t have to be here. When America is great again a lot of them will leave and go over there. Trump is going to change taxation and immigration laws for the purposes of enticing them. No one can stop them from going, but we need them to stay.
Trump is going to cut corporate tax from 35 per cent to 15 per cent, and slash personal tax rates, too. The highest income tax rate will be 25 per cent, and the first $25,000 earned per person will be entirely tax exempt. When this happens, and it will happen very quickly — many people will take their capital, and bolt. Or they will live here for half the year but set up businesses over there, and make those businesses the owner of their businesses here. The profits will go offshore, even if some of the people don’t, and there is nothing our government can do about it.
The Australian Taxpayers’ Alliance agrees:
Tim Andrews, executive director of the Australian Taxpayers’ Alliance, agrees wholeheartedly. “If Trump gets his way, Australia will be left as one of the highest business taxers in the world, forcing businesses here to shut their doors and send jobs overseas.
hat-tip Barry Corke