Kevin Rudds Mining Tax Explained.

[ronburgundy]

They just wanted a revenue number to be able to announce that the Budget would be going back into surplus.

Remember - this year's budget was actually a $54bn deficit. Funnily enough we've all overlooked this, so perhaps the RSPT was just a ruse to divert the attention

[tab]

And the greatest moral challenge of our time...what emissions trading scheme? Global warming...isn't that a thing of the past?

[ronburgundy]

You're right - this is how smart they are: By driving all the miners out of town, imagine all the trucks and machinery that won't be guzzling fuel. That's what it really is, it is an elaborate plan to save the planet from global warning

[Buf-Phoon]

I am in awe over the BER, An outstanding ROI.... Just brilliant, they should let these chimps run the country

Now ,the ship's aground on the shore of this desserted desert Isle .......... don't start me.

Goes off to implode

[ronburgundy]

BER - Do you mean Building Education Revolution fund? or Builder's Early Retirement fund?

[Buf-Phoon]

Let's have a debate on deficit V debt farkin

Bring on the bean counters and economists ( they are actually mutually exclusive)

[GOLDIE]

and to add more to it they are spending 38 million tax dollars to sell the tax because they say it is needed to save us.

They said they would not do this unless it was an emergency. funny how the approvale for this two weeks before they even said they were going to bring in the tax.

RUDD and GILLARD are liers and can't be trusted.

Ian

[Smoke them tyres]

Doesn't this proposed idiocy affect anything dug up?

Yet it will not increase the cost of living....yeah right.

Typical of this mob......convince people that there lives will be better and actually mismanage the situation that they are much worse off.

I would judge them on their history. If they don't even have the nouse to do an insulation scheme, what makes people think that they have the expertise and brain power to do this?

It beggars belief that they would introduce this when the markets are already nervous. Good timing you retards.

Also, what happens to all that "fairer for all Australians" when companies start making losses and will compensate companies for making losses? At the very time (in the future) when they need to boost up expenditure from the govt sector to counteract a recession, they will worsen their own budgetary position. People need to think about the long term exposure that this mob is opening us up to.

To apply the tax at the long term "bond rate" just beggars belief. That is not even the weighted average cost of capital (WACC). To do it with such a low kick in, retrospectively and at such a high punitive rate with no warning and negotiation is just another example of economic stupidity typical of this mob

[ronburgundy]

I would have tought at a bare minimum WAcc Should be the hurdle.

[Smoke them tyres]

Totally agree....how the hell can it be a "super" profits tax if it kicks in at the bond rate?????? A hurdle rate would be the correct rate if it was to be done properly.

Krudd and Co seem to be economically "illiterate" and have NFI of the whole impact of their actions.

Typical machiavallian character traits..... arrogance and ignorance. Just like his policies....conundrums.

Edited 10/06/10 11:05 AM by Smoke them tyres