You are becoming very predictable Tom.
Like the RBA I guess. Rates stay steady.
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You are becoming very predictable Tom.
During the "super profits" debate I didn't pick up that the miners were refusing point blank to tip into the tin.perhaps Australia should look at some sort of overage system whereby the miners pay the citizens of Australia a kind of "profit rent" in boom times.
Kevvi's and Julia's taxes were set in concrete in spite of the fact that miners were a steady employer while their, and wheat and wool prices languished barely above cost of production. At those times they do not explore or expand but they did keep digging.a kind of "profit rent" in boom times.
During the "super profits" debate I didn't pick up that the miners were refusing point blank to tip into the tin.
It was the 40% off the top, which was tougher than some South American dictatorships impose, which they thought outrageous, and I agree.
I didn't pick up that they were vehemently opposed to a reasonable tax, levied on a non-discriminatory basis.
Kevvi's and Julia's taxes were set in concrete in spite of the fact that miners were a steady employer while their, and wheat and wool prices languished barely above cost of production. At those times they do not explore or expand but they did keep digging.
Mining is highly cyclical so any tax on their good times should have implied support during the bad. The tax regime for farmers allows for this with generous averaging provisions unavailable to ordinary b'men and miners.
Soon after that BHP spent a shipload of money buying a shale gas producer in the US. That money would have developed Olympic Dam.Personally the final straw in this argument was when the miners said the tax will shift jobs overseas.. really?
Soon after that BHP spent a shipload of money buying a shale gas producer in the US. That money would have developed Olympic Dam.
I'm not defending them because I believe the miners must be reigned in. But there is fairness and due process to be adhered to.
And please don't insult me by calling me naïve unless you want a fight. I don't cop crap from people half my age.
The world is full of stuff to mine. Money goes where it is treated well. Fact of life.
The world is full of stuff to mine. Money goes where it is treated well. Fact of life.
Sunfish, we have had our differences and squables but you cannot be honestly be telling me with a straight face, that a) minerals are plenty and everywhere, b) its easy to simply shift operations like mining willy nilly..
These are all the amazing statements the mining industry has dished out and people actually beleived...
Hmmmm, perhaps Australia should look at some sort of overage system whereby the miners pay the citizens of Australia a kind of "profit rent" in boom times. That way there could be a reallocation of super profits from the few to the many and ensure industries affected by factors such as a high exchange rate caused by this boom receive support to protect jobs long term. That way, perhaps we won't all have to move to Perth (god forbid) and we'll still have something left in 20 years time other than large holes in the desert.
But wait - hasn't someone has already proposed such a scheme.
Seriously, why would you vote for Abbott? The only issue with the MRRT is that it doesn't go far enough and Gillard dropped her knickers to gain breathing space when she knifed Rudd.
....and an unstable country with a dictator is a good place to invest money? Even if your assertion is true, god forbid we should ration our resources rather than blowing the family jewels in one dash (and creating economic problems for ourselves to boot).
Resources are finite, Australian minerals are easy and cheap to mine, has a stable economy, a good legal system, good ports in easy reach of the main market (unlike Brazil) and well educated workforce. If BHP want to head off for a few years and exhaust resources elsewhere, be my guest. They'll be back and it would take the peaks and troughs out of the Australian economy anyway.
Thanks for listing all of the vested interest cliches in one spot for us though. Next you'll be telling us house prices only go up.
Australian minerals are easy and cheap to mine,
really? may go grab a few gold bars myself if it's so easy
has a stable economy,
if you call random and discrimating taxes part of a stable economy, followed by an attack on the megarich. check for reds under the bed I say
a good legal system,
let's not indulge too much. our legal system is just a very profitable market in itself. Justice goes to those with the biggest wallets.
good ports in easy reach of the main market (unlike Brazil)
yet to be built and the money has been ripped out and sent to sydney so don't count on this one
and well educated workforce.
in 1975 perhaps
why focus on miners? why not any company? at least miners actually do something and take risks, unlike the big fat taxpayer backed banks. how about a tax on all companies? we could call it "company tax"? and unlike personal taxes, we could make it a flat rate, so that the more you make the more you pay.
then rob all the direct and indirect taxes to spruce up all the streets of sydney and subsidise lawyers and cafes and we are well on the way to being a nation of smarts!
Because miners don't own the resources, they have a lease allowing them to mine the resources. If the value of the mineral goes up, why shouldn't the owner of that resource share in the profit?
If you own a retail store and the tenant is trading extremely well, you quite often have a profit or turnover rent clause. Why not mining?
We are only talking about "excessive" profits that weren't envisaged by either party when they signed the contracts. As the government has the ability to change the goal posts for the good of society, good on them.
My understanding is that NSW and Victoria have subsidised the West in the past through the GST take, subsidies etc at federal level. Now its your turn to put into the tin. When you have feck all left to take out of the ground in 20 years time, we'll throw you a bone again.
So no substantive arguments against my points then, just glib remarks.
you are confusing me... you didn't put forward a substantive agrument yourself, just a bunch of assumptions that clearly require challenging, so why expect more in return?
I am not defending the government or their policies they are an indefensible incompetent lot, I am just calling a spade a spade. Personally the final straw in this argument was when the miners said the tax will shift jobs overseas.. really? you will carve out a chunk of the earth float it to Indonesia and mine it there?
Its amazing how easy the sheep can be herded to the slaughter, smiling all the way...