Tax cuts a con

When oh when will we all wake up to the fact that big corporate tax cuts such as those wished for by the federal government just don’t work.

As any Economics 101 student soon gets to know, big tax cuts benefit investors through higher dividends and top brass with even higher salaries.

Sitting by are the rest of us, whose increased share of the cake is hardly worth noticing.

Tax cuts? A great big con.

 

Aren’t the banks doing well?

And speaking about cons, hasn’t the behaviour of the banks and financial-service providers been shown up as the royal commission looks into their behaviour?

One by one the big shots have sent minions along to face the music (most of whom seem to be trying hard, but largely ending up on toast).

The star of proceedings, gentle questioning in her soft voice, is senior counsel assisting, Rowena Orr, QC, (a.k.a. Rowena ‘Shock and Orr’), who has quietly taken apart witnesses after witness, slice by slice. A few witnesses have escaped her scalpel, but not many.

Hopefully the royal commission will lead eventually to a better deal for everyone, as a result of its findings, including the banks getting legislated out of the financial-advice business and forced to concentrate on banking services.

We can only hope.