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By cutting taxes for small business, will my doctor employ an extra receptionist, my accountant an extra clerk, and my workshop an extra mechanic? By cutting taxes to big business, will Woollies have more assistants at the tills, and fewer self-service desks?
So isn’t cutting taxes for businesses just giving them more profit, NOT more jobs? If we don’t cut tax for BHP, Rio and the banks, will they leave Australia? They are not paying all their taxes anyway.
Please explain.
Thanks.
A: I disagree that BHP, RIO and the Banks aren’t paying all their taxes. I suggest you go to their shareholder presentations/financial accounts and judge for yourself.
On company tax cuts, the argument goes that unless businesses invest, there won’t be any jobs. Sure, a small cut in company tax rates wont necessarily correspond to your doctor employing an extra receptionist, but in the long run, that doctor might decide to invest in some more equipment/services which will indirectly create the opportunity for another employer to take on staff.
Interesting that we rail against tax cuts in Australia – when the whole debate in the USA is pro company tax reductions. The strongest economy in the world with the strongest sharemarket.
regards
