kruddys resource tax

[Sappho]

I agree with you Dringy. IQ, you tedium is showing... put it away and then zip up those pants... there's a good boy.

Meanwhile, the resource industry has come back fighting with future projects put on hold pending the outcome of the resource tax. Threats to go off shore should not be ignored by Krudd who would counter with limp language on the moral imperatives of it all. Who gives a toss about moral imperatives when those with the means to mine will not produce the minerals that keep our budget healthy.

[TomB]

So you would give up your morals for a "healthy budget"? I could very easily Godwin myself right here.

[Sappho]

So you would give up your morals for a "healthy budget"? I could very easily Godwin myself right here.

A healthy budget results from tax receipts garnished from full employment, from a reduction in the welfare budget, from sound and responsible spending of those tax receipts in infrastructure, health, education, arts, indigenous programs and defense, etc... If full employment is dependent upon corporate and small business labor demands, then it follows that concessions which encouraged corporate and small business hire labor, irrespective of the profits claimed, are necessary.

To claim a 1/3 piece of the private enterprise nett profit does nothing but discourage labor demands and encourage the uprooting of that business to a nation more accommodating of their business needs as we have seen. This in turn reduces tax receipts and increases the welfare budget.

Tax receipts should be read as income tax, goods and services tax etc...

So I ask you, which is the greater evil?

[freediver]

This in turn reduces tax receipts

Do you have any evidence that this will actually reduce tax receipts? It would be a pretty big blunder if a government increased taxes to the point that revenue went down. Is that what you think they are doing?

[IQSRLOW]

encourage the uprooting of that business to a nation more accommodating of their business needs as we have seen.

Which part didn't you read?

It would be a pretty big blunder if a government..

Failed to engage an industry that invests billions offshore and locally and implemented a local tax grab without consultation and then proceeded to negotiate with a media campaign in the hope to win votes against the bag bad mining companies?

[Sappho]

This in turn reduces tax receipts

Do you have any evidence that this will actually reduce tax receipts? It would be a pretty big blunder if a government increased taxes to the point that revenue went down. Is that what you think they are doing?

Pretty big blunder? Well, we are talking about the Krudd aren't we? Blunder is his middle name... just after Sorry.

Think about it Freediver. Krudd introduces his tax. The mining industry collapses either packing up and moving off shore, or simply closing up shop because they were only ever a middling enterprise. The tax returns from those corporations will have so many losses on their books that any tax payable will be offset. Royalties from the corporates will be no more. Miners and admin staff will be sent to the dole queues. Business and services that covered those areas will shut down their operations as they are no longer viable. Tax returns for their enterprises will also have a nett loss offsetting tax obligations. Rent properties will be vacated and tax returns from those landlords will show significantly reduced income and so less tax payable. The transport industry that serviced the miners will show a reduction in income and therefore reduction in tax obligations and increase in layoffs etc, etc... Like the ripples in a pool after Krudd dives in... the impact is far reaching.

So where is the increase in taxes coming from Freediver? Where?

Already, projects they are yet to commit to have been put on the back burner pending the outcome of a Kruddy Rudd Tax.

[sprintcyclist]

sappho - I agree entirely.

About 15 - 20 years ago india had a tax reform.
they reduced the tax rate. The result was the tax income for the govt grew !!!

It had now became a reasonable tax rate. People rightly reasoned that it was not worth their efforts to avoid it.

All in all, everyone was happier.


in rudds scenario, he is doing the opposite.

[freediver]

This in turn reduces tax receipts

Do you have any evidence that this will actually reduce tax receipts? It would be a pretty big blunder if a government increased taxes to the point that revenue went down. Is that what you think they are doing?

Pretty big blunder? Well, we are talking about the Krudd aren't we? Blunder is his middle name... just after Sorry.

Think about it Freediver. Krudd introduces his tax. The mining industry collapses either packing up and moving off shore, or simply closing up shop because they were only ever a middling enterprise. The tax returns from those corporations will have so many losses on their books that any tax payable will be offset. Royalties from the corporates will be no more. Miners and admin staff will be sent to the dole queues. Business and services that covered those areas will shut down their operations as they are no longer viable. Tax returns for their enterprises will also have a nett loss offsetting tax obligations. Rent properties will be vacated and tax returns from those landlords will show significantly reduced income and so less tax payable. The transport industry that serviced the miners will show a reduction in income and therefore reduction in tax obligations and increase in layoffs etc, etc... Like the ripples in a pool after Krudd dives in... the impact is far reaching.

So where is the increase in taxes coming from Freediver? Where?

Already, projects they are yet to commit to have been put on the back burner pending the outcome of a Kruddy Rudd Tax.

Of course I understand the theory Sappho. What I was asking was whether you had any evidence that that is the reality.

[Sappho]

Let's see where things stand 1 July 2012 shall we? It is absurd to ask for evidence of a future event. As it stands we have threats from the mining industry.

[Senexx]

Say Hello to what happened to the Oil and Gas Industry when a Petrol Resource Rent Tax was applied.