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That's another reason I think they have more support for the tax than they otherwise would. Everywhere the headline is '40% super profits tax.' 40% isn't excessive generally speaking. They're already paying that. It's the fact that in reality the '40% tax' actually turns into a high 50's% tax...

I believe it has been allocated in forward budget estimates (buggered if I can be bothered finding it on the treasury website :D) as part of the whole kit and caboodle so we're back in surplus a year earlier. I definitely don't recall any mention of a sovereign fund the likes of the Norwegians...

So Evan, do you agree with Rudd's theory that this non-renewable resource and therefore non-renewable tax revenue should be allocated to everyday budget spending to plug the deficit? Or should it be put towards Australia's future for when the resources run dry (eg. sovereign fund)? People that...