It is not about religious morality but comes from a fundamental view about the role of government and what a government is supposed to do. Rand isn't your average conservative, he opposes most interventionist foreign policy and would end NSA spying. Tax cuts should in theory help the economy and create more jobs, perhaps helping the poor more than one thinks.
Perhaps these changes will indeed be very negative, which is why I support him as a UK citizen who wants to see how it turns out before having it in my own country.
When the previous finance minister in Sweden was asked how they manged to recover from taking a financial noser in the early 1990's, his answer was short and sweet: "Higher taxes".
One method they used was to increase the use of the VAT. Another was to spend more money on infrastructure.
A problem some (not you, at least as far as I know) have is that they don't realize that tax revenues don't disappear into thin air. Matter of fact, tax revenues well spent typically has a better job of creating growth than tax cuts do, especially if those cuts hurt lower and middle-income families. .
And I do have to disagree with you in that morality, including religious morality, needs to be taken very seriously. As Gandhi stated, anyone who believes in a complete separation of church and state doesn't know religion; but let me also add they don't understand politics either. Laws reflect morality one way or another, whether it be religious or secular morality, or the lack thereof.
BTW, I do agree with Rand in terms of being opposed to our constant meddling in wars that really should probably best be avoided.
Also, why should us Americans be the financial guinea pigs under Rand??? You're mean!