Should the corporate tax rate be cut? What about income tax? How should the government spend taxpayer dollars? We asked our Brains Trust

1. Do you think bringing forward income tax cuts would give the economy a much-needed boost?

Adam Schwab

Luxury Escapes co-founder, angel investor and former corporate lawyer

LinkedIn

Tax cuts are not only a gift to the rich from the poor, but they’re also a terrible way to stimulate the economy. The wealthy (who are the beneficiaries of tax cuts, given poorer people don’t pay that much income tax anyway) are less likely to spend the largesse so the stimulatory effect is minimal (we saw that in the US).

Moreover, the federal government has already undertaken the largest discretionary spend ever with Jobkeeper (not to mention the hundreds of billions of dollars of other handouts) such that we are incurring massive debts that will inevitably need to be paid down (or inflated away).