kruddys resource tax

[IQSRLOW]

Wow

Imagine how much higher they would have been and how many more jobs would have been created without the tax.

Now imagine how much lower they would be if the PRRT cut in at the govt bond rate in 1988

[freediver]

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.

Actually, economists have gotten fairly good at predicting the relative short term impacts of government policy, provided the price change and time involved are not excessive. The government would have a fairly good idea of the increase in income they will get from this increase in tax. It certainly will not be a decrease.

Also, your 'analysis' leaves out a big piece of the picture, which is that if there is any reduction in mining activity, the resources will still be there for future generations to mine, probably with a much higher gross profit margin.

[J.W. Frogen]

I like IQ, he is like the ass kicking you need to get out of the rack in boot camp.

But Woodrow makes an excellent point, political tribalism gets boring.

I know, I have been the Chief of that idiot tribe. And I did not even get laid a lot.

Fuck me.

So on the subject or resource tax I reconsidered, pondered, and fuck me even read about the details, such as they are.

Now I think it might be a good idea for reasons I am too drunk to explain.

Bare with me, I drink, therefore I am not.

[IQSRLOW]

Look- I am quite prepared to admit that an increase on resources is needed and justifiable.

What I wholeheartedly disagree with is kruddys typical union-tactic exorbitant ambit claim in public, which will now be played out in public.

Fortunately, this seems to have backfired on him...badly. His shocking display of trying to forge a them-us scenario is again, very transparent. The guy takes us all as having the same intelligence as the dills that voted for him.

Consultation doesn't seem to exist for krudd and in this case, it would seem that where he though he would claim the public ground swell, his presentation has turned it into a pissing match where he is getting splashed by his own urine.

So sue me if I am happy to see this fuck fail in yet another endeavour. It is because I truly believe he doesn't have what it takes to manage a country or an economy

[sprintcyclist]

...........the normally conservative Treasury said the Rudd government's proposed tax "risks uncertainty" and could "deter investment", putting at risk even stronger surpluses of $652m in 2011-12 and $807m the following year..............

............Professor Garnaut yesterday queried whether future governments under "extreme budgetary pressure" would pay mining companies for losses under the resource super-profits tax and whether it was realistic to assume banks would finance new mines just at the government bond rate, before proposing changes to the tax..........

............"I have many good friends in senior places in the mining industry, and most of them are opposed to the new tax with a passion that has no near comparator in my memory," he said......................

http://www.theaustralian.com.au/busines ... 5869389776

from one of kruddys own lackeys

[Senexx]

Wow

Imagine how much higher they would have been and how many more jobs would have been created without the tax.

That would be speculation on my behalf, what does your economic modelling say?

Now imagine how much lower they would be if the PRRT cut in at the govt bond rate in 1988

Yes you're right, the PRRT has an extra 5% on top whereas the RSPT has rebates for resources explorations and 40% compensation for losses

Care to try again?

[IQSRLOW]

The PRRT is not retrospective and in fact you will find all the growth has been mainly in areas not subject to the PRRT

Care to try again?

[Sappho]

Look- I am quite prepared to admit that an increase on resources is needed and justifiable.

I don't agree in targeting one industry alone for a super tax and justifying that with the idea of this being our land therefore our right to get some of the kick backs gained from milking it for all it's worth.

If the govt wants to play around with concepts of land ownership, then they shouldn't allow the leases to continue. Make the leases null and void on the basis that the land belongs to all Australians and not just Western Australians and Queenslanders, thereby making the contracts to lease land for mining to be from the Federal Govt and not State govt. Of course, that cant be said of Aboriginal Lands which are theres to do with as they please, with royalties going their way and subsequent taxes too according to the Krudd argument of course.

What's more, there is nothing in the rule books on Capitalism that says a govt cannot turn a profit through mining the lands themselves. So rather than play sour grapes on the worlds smallest violin, why got get entailed and run a mining business?

This Krudd govt with their super picky opportunistic abusive taxing regime is an insult to Capitalism; It is an insult to the independence of the States and their rights to act with their land according to their best interests; It is an insult to those who's livelihoods depend upon this industry doing well; It is an insult to share holders who loose out on their share of dividends.

[IQSRLOW]

I don't agree in targeting one industry alone for a super tax and justifying that with the idea of this being our land therefore our right to get some of the kick backs gained from milking it for all it's worth.

Somewhat agree with you, but if they were going to introduce a tax on all resources then it should apply across the board to all resources.

I would suggest the fishing industry would be quaking in their waders because this abortion of a version of a tax could easily be applied to them

If the govt wants to play around with concepts of land ownership, then they shouldn't allow the leases to continue. Make the leases null and void on the basis that the land belongs to all Australians and not just Western Australians and Queenslanders, thereby making the contracts to lease land for mining to be from the Federal Govt and not State govt. Of course, that cant be said of Aboriginal Lands which are theres to do with as they please, with royalties going their way and subsequent taxes too according to the Krudd argument of course.

That would involve messing with the constitution and kruddy wouldn't have 100th of the heart (nor policies) to be able to travel the route

[Sappho]

If the govt wants to play around with concepts of land ownership, then they shouldn't allow the leases to continue. Make the leases null and void on the basis that the land belongs to all Australians and not just Western Australians and Queenslanders, thereby making the contracts to lease land for mining to be from the Federal Govt and not State govt. Of course, that cant be said of Aboriginal Lands which are theres to do with as they please, with royalties going their way and subsequent taxes too according to the Krudd argument of course.

That would involve messing with the constitution and kruddy wouldn't have 100th of the heart (nor policies) to be able to travel the route

So... for all those morons out there ignorantly nodding their 'yes, yes' agreement with Krudd on our right to tax revenue in the form of super taxing the miners, let it be known that Australia does not own the land or resources Krudd claims we all have a right to benefit from... States own it. And States are already benefiting from their mining industries thank you very much.

What is wrong with you people that you cannot see a ruse when it is presented to you? There is no one Australia with rights to all the benefits on offer. We are a Commonwealth of States! States run themselves. States own the land within their boundaries. If you want the benefits of the mining industry, move to WA or QLD, aint no one gonna stop you, but don't think that you have a right to take from them what is theres.

Geez with that line of reasoning... I have a right to take from my neighbor if my neighbor is more successful than me and vice versa.