Tax homes and control mine boom, CEOs urge

its good idea... tax unproductive assets, not productive ones like mining. In theory it is perfect. In practice, theory is not always perfect.
 
It sounds like they are not against taxing mining either when they say a wealth fund has to be set up like Norways to support us in the leaner times.

Wayne Swan is a tool saying it is OK because they will start saving in 2012.

On past cycles 2012 - 13 will be close to the end of this boom. Maybe they will get 20 to 40bn over a coupel of years and thats it.

From one of the biggest booms in Australias history and we save 40bn public savings and the private sector has debt levels over 100% of GDP.

Anyway as the boss at newcrest said:

He said his views were formed during his early career in Broken Hill where he witnessed the fallout from the last bust in the 1970s. ''If you have been in mining as long as I have, you have seen the cycles … and you never get deluded or sucked into the point that these good times are going to go on forever,'' he said.

Thats not even bearish, it's just the way it is. You can talk about demand all you like but in industry cycles it is generally supply that sends prices down again and ends the investment phase of the cycle. when prices are this high it leads to to overinvestment every time.
 
its good idea... tax unproductive assets, not productive ones like mining. In theory it is perfect. In practice, theory is not always perfect.

i was watching cable , and a company employed to reserch the top 300 companies said that the mining were not the top earners , i think the top ones were banks , retail, energy and then mining , so taxing mining was just dumb? we hear of the billions that mining makes but i am not sure if they all profit in the billions , and how would you likeit if just because your buisiness does well you get lucky and get to pay extra taxes ? its just like when you work harder , study harder and take more calculated risks, ie investments , so our government say hey! well done now because of your hard work and sacrafice we are going to get you to pay for those who dont give a **** , and you can pay for the lazy bums as well. thats just F....D, its like paying my best workers less.
 
Ultra conservative, extreme right wing baseless logic ruins yet another nation. Obviously when you are exporting vast amounts of something in a market known to by cyclical and have a huge debt market like the housing market it makes perfect sense to tax both of those things to pay for government services and to save for a rainy day. Instead we have the biggest mining boom in history, government debt and people who can't afford to pay basic living expenses due to increases. Hardly an ideal situation or an optimal use of booming economic times. Conservatives - your ideals simply do not work.
 
The debate that these CEO's are referring to, imo, are similar in intent to the comments made by ANZ CEO, Mike Smith.

Given the vacuum of leadership and debate on the issue of economic reform, you are finding CEO's and other community leaders will start commenting and suggesting policy prescriptions. The detail commentary and suggestions about levying CGT on PPOR is irrelevant imo.

By the way, whatever happened to the Henry Review? The non-response by the incumbent government is just as damming as the previous governments expansion of middle class welfare.

We only need to look at our cousins in Europe to see what eventually happens to overbloated and lazy governments. Yes, we aren't nearly as bad off as some of those countries, but we will have a significant amount of resources and money required to invest in social infrastructure, health etc. We are living in the highest growth region in the world, we will need to ensure we save, invest smartly to keep improving our standard of living in a sustainable manner.

Australia could not afford to ''frighten off foreign investors by giving oxygen to poorly thought-through, populist policy proposals'', he said. ''Without these investors … growth in Australia will stall.''

We need to encourage a frank, open and constructive exchange and avoid shouting down those with longer term perspective that go beyond this year's political cycle,'

Source: ANZ boss backs sovereign wealth fund Feb 25th smh.com.au
 
... Instead we have the biggest mining boom in history, government debt and people who can't afford to pay basic living expenses due to increases. Hardly an ideal situation or an optimal use of booming economic times. Conservatives - your ideals simply do not work.

Australia has the second highest standard of living in the world (and only missed out on first place by a bee's proverbial). To make the sweeping statement that people can't afford to pay basic living expenses is ridiculous. If you want to, in this country, you can easily find work and have a reasonable standard of living.

This country is not what I would call hugely conservative either - that's just a load of garbage perpetuated by young people and hippies who want more for themselves without having to work for it.
 
This country is not what I would call hugely conservative either - that's just a load of garbage perpetuated by young people and hippies who want more for themselves without having to work for it.

What a conservative thing to say! :D (Just kidding)

I agree that we aren't hugely conservative, but I think we are getting MORE conservative. If the mining tax was proposed 20 years ago, I think it would have been accepted by the public without a problem. Today though, the govt are having huge trouble selling it to the voters.

Mind you, that could be because the govt would have trouble selling anything.
 
I agree that we aren't hugely conservative, but I think we are getting MORE conservative.

if aussies were anymore conservative they would be wearing one piece body suits at the beach. I would say aussies are generally prudish and ultra conservative in their attitdues towards business as well
 
Well we're seeing a shift around the world to more conservative politics - because the last 2-3 years of left-wing nutcases like Obama that want to spend money he doesn't have has made people afraid. Result? Conservativeness
 
Well we're seeing a shift around the world to more conservative politics - because the last 2-3 years of left-wing nutcases like Obama that want to spend money he doesn't have has made people afraid. Result? Conservativeness

I think the US was in debt and spending money they didn't have, on wars all over the world, before Obama came to office.

Obama has increased the deficit, true, but let's not pretend the US was a bastion of economic thriftiness before Obama took over. They were a basket case under his predecessor.
 
I think the US was in debt and spending money they didn't have, on wars all over the world, before Obama came to office.

Obama has increased the deficit, true, but let's not pretend the US was a bastion of economic thriftiness before Obama took over. They were a basket case under his predecessor.

....but not under the clinton regime.

funny - those that seem to do the best for the people end up shot, framed, missing or hung out to dry.

shame.
 
lol

Ultra conservative, extreme right wing baseless logic ruins yet another nation. Obviously when you are exporting vast amounts of something in a market known to by cyclical and have a huge debt market like the housing market it makes perfect sense to tax both of those things to pay for government services and to save for a rainy day. Instead we have the biggest mining boom in history, government debt and people who can't afford to pay basic living expenses due to increases. Hardly an ideal situation or an optimal use of booming economic times. Conservatives - your ideals simply do not work.

Had to laugh at the above statement in red - because extreme left wing nut jobbery has done such good things.

I have a theory that if you combine extreme right and left beliefs and and divide the resultant by 2 you'll land at about the good government sweet spot.
 
Had to laugh at the above statement in red - because extreme left wing nut jobbery has done such good things.

I have a theory that if you combine extreme right and left beliefs and and divide the resultant by 2 you'll land at about the good government sweet spot.

That did not work for the modified Schlieffen plan.

http://en.wikipedia.org/wiki/Schlieffen_plan

Luckily for the Netherlands they decided to compromise on it but it led the Germans into being bogged down in a war of attrition.

Sometimes compromises are the worst possible result.

All that said I agree with you that in public policy the middle ground is often where the best policy lies. One eye has to be kept on the purpose of regulation however as a compromise can have ******* unintended consequences.

Enter stage left: A carbon trading mechanism with a fixed price...

Edit: I am surprised the word ******* is blocked by the filter?

Edit 2: lol...
 
i look forward to a carbon derivatives market with the credits traded and sold for real value, thereby increasing the incentive to make more carbon.

yes, we can.
 
i look forward to a carbon derivatives market with the credits traded and sold for real value, thereby increasing the incentive to make more carbon.

yes, we can.

I expect it to go something like the alternative energy credits. They will start off being worth a quid but then after private industries invest in them the government will give certain industries concessions when we work out it costs jobs.

Before you know it a carbon credit will be worth nothing and all the investment in renewables will also be wasted along with the jobs lost in old school poluting industries.

The government does not have the mettle to stick to it. If you are going to do something you must do it right. At least that way people can invest either way, but knowing their track record what do you do?
 
Back
Top