Trumpism is contagious: Australia now looking to lower corporate tax rates

Trumpism is contagious: Australia now looking to lower corporate tax rates

Other countries are now seeing the common sense in President Trump’s policies.  Australia is now considering lowering its corporate tax rate to better compete with other nations.

The Daily Telegraph out of Australia reported today that President Trump’s tax plan may be a great idea –

President Donald Trump’s tax reform bill is huge for the US and potentially huge beyond the US.

Overall, the bill – if passed – will cut some $1.5 trillion in taxes:

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The centrepiece of the reform package is a slashing of the business tax rate from 35 per cent to only 20 per cent, a move Republicans argue will boost the economy, create jobs and drive salaries higher.

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The Telegraph notes that Australia leaders are noticing President Trump’s policies and realizing they too must change in order to compete globally.  Malcolm Turnbull is sounding Trumpish, in his response to Trump’s tax plan:

Malcolm Turnbull promises personal income tax cuts will be announced before the 2019 federal election, running alongside his government’s push for cutting the company tax rate cut to 25 per cent for all businesses.

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