Kevin Rudds Mining Tax Explained.

[Dillz]

An Interesting Read

So when are the 51 gonna put there hand up and admit they f*cked up?

Where do I stand? Head in the sand till it all blows over.

Edited 10/06/10 12:37 PM by Dillz

[mattyb]

Am I the only one here reading all this, who watched Tony Abbott on tv say that he was against the super profits tax that labour had, but when approached about their alternative, said LNP were going to introduce a 'different new' large scale tax?

I'm a miner in central queensland, I've been a contractor for the past 6 years, and started a permanent job underground on monday, it took 4 years of job applications & rejection, before I got this job... I really don't care who gets in as long as, I have a job, I don't have to sign a contract (I.e. can work to an EBA), and who ever gets in funnels some of the mining money back into the areas that provide it! I can't ride my motorbike the 60km's to work cos the road to and from (and around our town is below par), yes, it is state responsibilty as it's a highway. The metro areas get it all, billion dollar tunnels & bridges, and we provide those billions, yet we get stuff all. This seems to be the general consensus in out 20,000 person town.

One thing I think we probably all could agree on is that no matter who gets in, in another 4 years time we'll be having the same conversation, only with different names.

Oh, and if you had to "do" a female politician, who would it be lol. (just a bit of humour to lighten the mood)

Edited 10/06/10 01:57 PM by mattyb

[Buf-Phoon]

Bronwyn Bishop

[tab]

It'd be the former democrat senator wouldn't it, Natasha Spot-on-the-foyer or whatever her name is.

The metro areas get it all, billion dollar tunnels & bridges, and we provide those billions, yet we get stuff all.

You don't really provide a cent for them, the sucker driving through/over them every day do thanks to a little transponder on their windscreen. There used to be a massive inequality but now the roads are crap across the board, get off the M1 or toll roads on to surburban arterial roads in Brisbane and get your neck brace ready.

Have no idea what the other tax you're referring is though. Is that the paid parental leave levy (supposedly temporary) on big corporations or something else?

But yeah they are all crooks. It's all about voting for the lesser evil, or the party least likely to fck things right up I guess.

[mattyb]

buff... you are a sick man, you should get yourself checked, lol.

[ronburgundy]

+1 Natasha

What about Keneally?

[MICKAJ]

If these big companies are so soft skinned and pull out I'm sure someone else would be more than keen to take over the business. So like I said as long as there is profit in it, someone will always be keen to go after it unless they pull out and keep every lease in the country (unlikely).

Which ever company keeps mining would obviously need to hire the labour to do so, so job loss is another scare tactic.

More jobs are actually threatened and lost by sending manufacturing overseas for cheaper rates, which is why mining is more secure employment. Can't exactly do that with a site dependant business.

Production being slowed is also a scare tactic being thrown around, if anything production will have to increase to offset reduced gain from the tax, which would mean more local jobs as projects would have to come online sooner.

To infer that production would be reduced by the companies because of the tax is mental, the shareholders would not tolerate that big a drop in $$.

As long as the stuff is still in the ground someone will want it.

[Buf-Phoon]

Can't exactly do that with a site dependant business.

and mining isn't site dependant?

Production being slowed is also a scare tactic being thrown around, if anything production will have to increase to offset reduced gain from the tax, which would mean more local jobs as projects would have to come online sooner.

To infer that production would be reduced by the companies because of the tax is mental, the shareholders would not tolerate that big a drop in $$.

As long as the stuff is still in the ground someone will want it.

What you are saying is true, however your view is myopic in the larger scheme of things. Consider share prices ( which are getting hammered) the knock on effect to peoples share portfolios, retirement nest eggs, the plummetting $AU which means we get less for our exports and less tax revenue.

All good. Cods wallop

[Guest XR09]

And when the dollar drops the banks will raise interest rates to fill the gap against what ever currency they borrowed against.

Mining has softened the GFC fallout effects on this country so far. I really don't think that can be argued.

I cant stand Rudd, but he did not get to where he is being a fool. My bet is they are hoping for a 25% flat tax and are willing to settle for 15 to 20%. They will more than likely get this I rekon. And jobs will go because of it.

[Buf-Phoon]

Any real economists out there. I have a boner on this....next