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 tax cuts should not be a form of income redistribution. One has dozens of other programmes that do that.  Tax cuts should be about increasing economic growth and private savings.

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