Economy

Jan 29, 2018

Moody’s the latest to expose tax cut deceit

Ratings giant Moody's says Trump's tax cuts will be blown on share buybacks, not investment. Just like CEOs are saying. When will the lies about corporate tax cuts end?

Bernard Keane and Glenn Dyer

Politics editor / Crikey business and media commentator

Scott Morrison is quite the fan of ratings agency Moody's. Last August, when the agency confirmed that Australia would maintain its triple triple-A credit rating secured by Wayne Swan in November 2011, he rushed out a press release lauding the decision. 

But we suspect Morrison won't be saying anything about a new analysis from Moody's last week, about the impact on the US economy of the Trump tax cuts. Moody's analysts told investors:

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7 comments

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7 thoughts on “Moody’s the latest to expose tax cut deceit

  1. Alan Austin

    Excellent analysis, Bernard and Glenn.
    The US government debt blew out by US$516 billion in 2017.
    It has already expanded by $678 million so far in 2018.

  2. Justin Thyme

    The issue in the US is how to get their multinationals to bring home the trillions in profits kept offshore. The hope is that lower taxes will bring home money that will then be invested in new capacity and technology.
    Unfortunately modern management is more interested in share price bonuses. So a good try, but these people do not ask what they can do for their country.

  3. zut alors

    Excellent information & links. There are no surprises.

    1. Peter Wileman

      Except that Malcolm and Scomo appear not to have researched as thoroughly, or think that we can’t read. Great links, thanks.

  4. klewso

    Slomo’s only saying what his sponsors are paying him to say…..
    Did Fozzie Bear pull Jim Henson’s strings?

  5. AR

    I love the work rate of Morriscum’s tongue during interviews – it runs far away ahead of his thought processes, if any, and the words are often merely phonemes in a wall of sound.
    Pity the poor interviewer trying to follow in case he is saying something worth the oxygen.

  6. Dog's Breakfast

    It remains a surprise to me that anyone other than partisan puppets would try this ‘tax cuts save the world’ claptrap.

    It remains a surprise to me that there are so many partisan puppets in the populace, who will buy this shit sandwich and tell us how good it tastes.

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