Bandt is more Sheriff of Nottingham than Robin Hood: always the baddie.

Imagine the chaos if this maniac is relied on by that other maniac, Albanese, in a hung parliament after the next election.

I'd prefer an Incompetence Tax for politicians once they lose office !

In Norway the government set up the Government Pension Fund Global (GPFG) so that the wealth benefits generated from they natural resources would provide benefits for both current and future generations.

The first money transfers to the fund took place in 1996.

In 2010, just 14 years later, Prime Minister Rudd proposed a "super profits" tax on the mining industry.

This was one of the major causes of his downfall.

In 2010 the GPFG had a market value of 3,077 billion kroner.

In 2022 the GPFD had a market value of 12,429 billion kroner.

Talk about lost opportunities.

The Norwegian petroleum tax Taxation is based on net income at a marginal tax rate of 78%.

I think many Australians delude themselves into thinking that they are millionaires in waiting and therefore any tax is bad for them.

Australians seem addicted to voting against their own best interest.

As the Guardian reports: "A record number of super-rich Norwegians are abandoning Norway for low-tax countries after the centre-left government increased wealth taxes to 1.1%."

This is an increase of 0.16%.

Will this ruin the Norwegian economy? Probably not, but it my alert everyday Norwegians that the rich will avoid their tax responsibilities by fleeing the country.

This just adds more weight to the benefits of a tax on profits.

Even East Timor has a "super profits tax" with its Timor-Leste Petroleum Fund.

Too true wtf. There are the Norwegians making a killing from fossil fuels and here is Australia being led to oblivion by koala clubbing anticoal antinuke catasthophists. I've never been witness to stupidity of this magnitude in my own country.

I'm not surprised by this article from a conservative who still believes in the well and truly discredited trickle-down economic effect. Put simply, trickle-down allows for the mega rich to get richer, with little or no tax, then have faith that with fervent prayer and a Christ like miracle some of the crumbs from the rich mans table will fall and "feed" the rest of society. No the result is the rich get richer, and the poor can go to hell. A super profit tax on resources owned by every Australian is a no brainer!

I rather see companies making profits through employing workers than Govt bureaucrats getting paid top Dollars for achieving nothing but the emptying of our coffers in return for economic & social woes.
Companies reinvest in people, what do bureaucrats invest in ? Why even blue collar workers have to pay top Tax for over 50 years in order to receive the pension. Bureaucrats can salary sacrifice & spend their undeserved Dollars literally stolen from the Nation in other countries on their holidays. Give me a company any day over a bureaucrat when it comes to benefitting the Nation ! At least companies & their workers give back something, bureaucrats on the other hand ....??

The problem in Australia are not the rich getting richer, it's the bureaucrats denying the working class a slice of the cake the ingredients of which are provided by the rich & the blue collar working class.
Bureaucrats & intellectuals are mostly takers & non-contributors & they are Australia's biggest hurdle to jump ! Start training for the October election !

Indy,

You attack public servants as "non-contributors" what are YOU! The past master at non-contributing, 50 years without a days work, a record in itself.

Libertarian's see everything through the lense of money/ economy.

So do Marxist's they just believe the system should be controlled by academic/ ideological Marxists (Dialectic Materialism (Economics)).

"Classical Hegel Derived Fascist's" and Traditionalist's believe that money is a tool but you shouldn't let the tool dominate the person using the tool- the tool shouldn't become the master- the money systm shouldn't become an end in itself but should serve the community.

Why should the Australian nation just give these valuable resources away- there are of course a few unstated assumptions here. In a sense minerals are the bank vault of the community, but GY is correct in saying that businesses won't invest if they can't keep the profits, and if there is too much political interference in business. This sort of paradox can be difficult to resolve. One potential way of resolving it is only to let Australian companies mine minerals, so the profits stay in Australia, but there are problems. Mineral prices are a moving target. Putting super-profits into more government spending is definitely not appropriate in a time of "pear shaped" government excesses. Some nations have created a sovereign fund, but in Australia governments seemingly have routinely dipped into such funds.

Elon Musk in his recent Twitter/ X interview with Ex-President Trump said that the biggest evils in the economy were "increasing and disproportionate Red Tape and Government Spending"- I think this is correct.

This is all to say I don't know... yet.

But obviously I really don't trust the ALP Labor Party or even more so the Greens (Watermelons).

Kudos Kid,

Its obvious you are not an Australian, a good ole' boy from Alabama maybe, but no Australian would say; "really don't trust the ALP Labor Party when ALP stands for Australian Labor Party. Australian Labor Party Labor Party, what a Wally. I'm please your kind don't like the Greens, there's no room for your extremism in a moderate party like the Greens.

You attack public servants as "non-contributors" what are YOU!
Paul1405 (Amoeba),
You're literally admitting that you're of not much use to this society. I see some of my legacy in infrastructure that I was involved in to design & create & makes life easier for communities. What does yours show ? I can just imagine you as one of those Robodebt soldiers making life difficult for pensioners just because they commit the ultimate sin of growing old !
However, for yourself you more than likely exploit every salary sacrifice & Govt Super contribution to the fullest. It doesn't get much more hypocritical opportunistic than that ! I had the misfortune to have such Leftists as line managers so, I know how bad bureaucrats can be & how low some can stoop !

Rather than looking for greater sources of taxation, we need to be looking for better ways to match our production to our spending- to keep our budget. Surely with a moderate lifestyle, and with the advantages of modern mass production, and with the governments deal making and coordination role- we can all live within our means- consuming less than what we produce.

Hebrew, Psychology Trained, Nephew of Freud- Edward Bernays is said to be the one who invented the concept of emotional consumerism going from a "needs based economy" to a "desires based economy". When people come from the same culture people have more similar consumer needs, and mass production is able to produce those needs at the lowest unit cost. So for at least two reason's the Australian cost of consumption has increased 1. needs to desires, 2. monoculture to multiculture, 3. could be others.

Another way to produce 'needs' at a lower per unit cost is to focus on alternatives that have a longer non- refrigerated shelf life- this means less waste. It's been said that the UK wastes 50% of all it's food. Surely in Australia with less extreme temperatures than other parts of the world basic housing can be more 'cost effective' and 'stable' with less 'red tape'. Of course with massive immigration it's hard for housing to be stable

The government has been 'fudging the deficit' for years using 'housing bubble economics' and 'low value added mining industry' to boost perception. The reality is we are under performing in the "value per unit capita" ratio, because of barriers within productive capacity processes, compared to other nations. We seem to be living on borrowed time. Governments have wasted their energies on virtue signaling ideological battles, rather than real value. In Orwell's 1984 the government purposefully destroyed productivity, by limited forever war, in order to keep populations servile. Strange but common to see reality mirroring fiction.

It seems that 'the strategy of Australia is wasteful' if we want to live within our means, and avoid being owned by our debtors. Better that we live well within our means, and invest the excess, in some sort of productive growth, whether it's Australian R&D, competent businesses, etc.

Others believe that we should be free to spend all our money then put out our hands for more. Saving gives us freedom. Freedom is not free. Our grandparents knew this simple fact that we have forgotten. Old things are not bad. Few new things are good. Most mutations are disadvantagous to survival. There's a sucker born every minute.

Stop the mutants