Kevin Rudds Mining Tax Explained.

[ronburgundy]

Rudd didn't get where he is because people wanted him in, he got there because people wanted the other mob out.

And if you want to go even further back, I don't think we did so well through the GFC because of them, I think we did well because we came into it in pretty good nick. Slightly off topic though.

The comment about "if there's profit in it..." is half-right. Problem is, the profit is now almost halved. Previously it was a 70% after-tax profit, now it's going to be 42%. It's like saying as long as there is a salary, someone will do the job.

Someone trims your salary by that same amount, are you gonna hang around? Probably not, and as long as there is a salary someone will end up in the job. But even that is a very simplistic view. Again, this isn't just something that you can hire someone new. These are LONG term things we're talking about here. You don't just set up shop for a couple of months.

[Guest Al@n]

OK this subject is becoming vey subjective. I believe that we need to look at this in many ways. Not just from a profit or capitalist viewpoint. I feel that at times the discourse or language is being compromised. This tax is a super tax. What does that really mean? It is a position that the government takes when companies are making incredible income. There are a number of things that as basic stakeholders (Aust citizens) we need to understand. Firstly the importance of unsustainable energy. Now what is occurring is that the Australian Government is aware that in Australia being one of the oldest continents we have substancial mining reserves.Therefore, why cash in now, when you can cash in later. These enery sources are not renewable. This planet is apparently in the 4th billion year of a 6 billion year cycle. So to keep energy reserves is ultimataely going to keep our kids moving forward economically.

[ronburgundy]

No problem having a super profits tax. These companies make super profits make no mistake. But this is not a super profits tax. This is a 'profits above the RISK FREE rate of return' tax. See the difference?

[Guest Al@n]

Further to my last post,any potential government will exercise the condition of opposition. What does this mean? Well in a nutshell they will try and sway us their way of thinking, as the swinging voter is the main voting group within Australia today. I am not saying who is best and who is not. However what I am saying is that we need to be aware of the politics and how it operates. As an Australian citizen you need to be aware that money is power, if you are the owner of a mine and you are making billions or millions. The Oz mining industry booming, but remember that the people within the mines should not be short changed, this job effects their longevity. So let the tax be the burden of those that dont inhale coal dust. Therefore lets see some bottom up politics.

[Smoke them tyres]

[RIP_HSV]

who cares

[tab]

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

...as long is there is still stuff in the ground in other countries without draconian tax regimes someone will want to mine that instead.

[MICKAJ]

...as long is there is still stuff in the ground in other countries without draconian tax regimes someone will want to mine that instead.

Nothing stopping them doing that now. Considering the mega wages paid to workers in this country it is already cheaper.