Source: Australian Government Worried US Will Take Jobs After Massive Tax Cut
So now Australia has the worst taxes on business. Way to go!
So now Australia has the worst taxes on business. Way to go!
Source: Australian Government Worried US Will Take Jobs After Massive Tax Cut
So now Australia has the worst taxes on business. Way to go!
We see jobs go overseas all the time, but not usually to the US. I would have thought jobs going to the US would have been unlikely because of the (relatively) high wages compared to the places our jobs normally get outsourced; poverty-stricken places in Asia where people can be paid a few cents a day and much slavery gets overlooked.
brinny, they're multi-nationals, not necessarily Australian companies. That article mentioned Gap; that's an American company. H&M is Swedish. They'll go wherever they can make the most profit.
Once it was cheaper for them to manufacture in Australia for the Australian market because transport costs were so high; now even the cost of manufacturing overseas plus transport doesn't come anywhere near our wage costs, so where once they might have set up factories here, now they're gone overseas.
But that's where our jobs are going; not to America, which also has relatively high wages.
"If Australia doesn’t pass its own version of the Trump tax cuts, Morrison fears the country will take a hit to its GDP of up to 1 percent. Morrison initially proposed a $65 billion tax cut, saying it would add 1 percent to Australia’s GDP. After Trump’s cut, however, Morrison warned that the cuts are necessary for the country’s economy not to contract."
Scott Morrison belongs to our Liberal party, which is (despite the name) similar in ethos to America's Republican party. They are the party of small government and low taxes.
I see this as ScoMo using anything he can to try to get political leverage for his party's policy of cutting taxes, that's all. I don't think (and I doubt he does either) that we're seriously at risk of losing jobs because of this, but that sounds scary and might buy his party a bit of political support, which they desperately need right now.
It's a political ploy.
Too bad for us we still have a while to go before the next election!
With any luck...
Ah well, I'm not supposed to pray for this or that party to win. (Not publicly, anyway).
So I leave you with this light-hearted comparison of Christmas here vs. there:
View attachment 216794
Source: Australian Government Worried US Will Take Jobs After Massive Tax Cut
So now Australia has the worst taxes on business. Way to go!
Dear Australia
Just be thankful that you don't live next door to them
Canada
That's competition for you as promised by Trump.
M-Bob