Call for top tax rate of 30%

Four top business groups have called for a reduction in the top tax rate to 30% – matching the corporate rate.

They make the valuable point that should not be a form of income redistribution. One has dozens of other programmes that do that.  Tax cuts should be about increasing growth and private savings.

They have also estimated one can deliver $2.5 billion of tax cuts (annually) without a serious impact on inflation.

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