US president-elect Donald Trump’s manifesto creates tax haven

For media commentators like me, it is best to write from a position of knowledge rather than ignorance, prejudice and groupthink. This is the least readers are owed.

And so I did something hardly any commentators have done. I bought a copy of Donald Trump’s book Great Again: How to Fix Our Crippled America and read it.

Everyone is encouraged to do the same. You won’t regret it, I promise. The book is illuminating, fantastic and terrifying. It is the best political book I have read.

Recently, a friend saw the book lying on a side table, at home. “Oh, but Trump is a racist, bigot, homophobe and sexist,” she exclaimed in horror.

“Meh — whatever,” I replied.

Maybe Trump is, and maybe Trump isn’t, but would it matter even if he were? Not to you and me it wouldn’t. We need to get past this puerile name-calling. I don’t care what Trump is, I care what Trump does.

This is why I think it is important to examine what the new US president-elect says he is going to do, by reading Great Again, which outlines his policy intentions.

If Australians are to believe any of it — and there is no reason not to — then Trump represents a threat to us all. Rest assured, though, none of us needs to worry our delicate little heads about discrimination, bullying, bigoted homophobic abuse or being groped on the you-know-what — I can guarantee Trump will grope none of you on the you-know-what.

Yes, Trump is going to hurt us all, and hurt us badly, but not in the way many may think. Trump is going to hurt Australia by making America great again.

When America is great again, and this will happen quickly — in fact, it is already happening and Trump hasn’t even taken office — Australia will be left behind. We will be like the pub no one drinks at any more, the once-popular restaurant everyone shuns. America will be like the shiny new joint just around the corner, with amazing decor, stunning food, incredible service, cheaper drinks; we won’t be able to compete.

The markets know it, American companies know it, their citizens know it, yet we still haven’t realised.

Now is the time for people to wake up. Our politicians need a reality check; someone better put a plan together.

Next, a “trigger warning” for all those who think the solution to every problem is to raise tax or introduce a new one. Here is some bad news, snowflakes: there are lots of people here who own small to medium businesses, and/or have capital; these people provide jobs, have driven the housing boom and are propping up our economy. They don’t have to be here. When America is great again a lot of them will leave and go over there. Trump is going to change taxation and immigration laws for the purposes of enticing them. No one can stop them from going, but we need them to stay.

Trump is going to cut corporate tax from 35 per cent to 15 per cent, and slash personal tax rates, too. The highest income tax rate will be 25 per cent, and the first $25,000 earned per person will be entirely tax exempt. When this happens, and it will happen very quickly — many people will take their capital, and bolt. Or they will live here for half the year but set up businesses over there, and make those businesses the owner of their businesses here. The profits will go offshore, even if some of the people don’t, and there is nothing our government can do about it.

Tim Andrews, executive director of the Australian Taxpayers’ Alliance, agrees wholeheartedly.

“If Trump gets his way, Australia will be left as one of the highest business taxers in the world, forcing businesses here to shut their doors and send jobs overseas.

The government needs to take action on urgent tax reform to stop tax refugees fleeing Australia.”

Our prospective tax refugees may be foreigners or native Aussies; regardless, they are people who can base themselves anywhere in the world. Any country will have them, especially Trump’s America; he wants people with money, who will start businesses, invest and create jobs for Americans.

Trump says, “Our current immigration laws are upside down — they make it tough on the people we need to have here and easy for the people we don’t want here.”

He is going to reverse that and will make it easier for people who can “contribute to this country” to move there.

Troy Lanigan, Canadian chairman of the World Taxpayers Association, agrees. He says, “People and capital can move. All jurisdictions are in competition for people and money. Tax competition imposes discipline on governments to be more efficient.”

Government efficient? Now that is a novel idea. The people in Canberra should try it and significantly cut taxes before it is too late and Trumpageddon is upon us.