Why the Coalition, conservatives and big business are terrified by Emma Alberici

Image result for Image of Ayn Rand

This is especially so in the United States, often cited by Australian conservatives as evidence of the value of tax cuts. Here, claims made by the Trump Administration to defend its corporate tax cuts are widely disputed by economists, including Larry Summers and Paul Krugman.

Even within the business community, there is scepticism. Investment guru Warren Buffett is not impressed and even Moody’s rating agency concluded that the cuts would most likely direct tax windfalls into share buyouts and shareholder dividends rather than heightened investment and employment.

For these ideologues, the corporate tax issue is not simply one of economic efficiency, but is central to an important reordering of power within society — one which rejects the right of democratic governments to force wealthy individuals to hand over large portions of their wealth to pay for public goods, like welfare, health and education.

via Why the Coalition, conservatives and big business are terrified by Emma Alberici