rehctub
I agree that Rudd is tainted with the smell of failure at the moment but this has nothing to do with the mining taxes despite the money being spent by miners on marketing that viewpoint.

Rudd's mistake was following it up with taxpayer funded government advertising and failing to consult with mining companies prior to announcing the tax and failing to come up with options for consultation. He was a bit bull at a gate but the principles are sound from MPOV.

Most voters are discontented about failure to deliver on promises and poorly managed programs.

Most of us, individuals and companies alike, don't like to pay more tax despite wanting more services. The question should be are we as the owners getting a fair price for the raw product. If not why not and there should be discussions around what is considered a fair arrangement for Australian citizens and in particular the Indigenous communities in some of those mining regions.

*I would be if it were on my wages as a wage earner under $100K but we are talking about a tax on profits*

Err what on earth do you think that those dividends are, for all
those grey nomands and others, who scrimped and saved all their
lives to provide for their own retirement?

You, Custard and others, all have the opportunity to get off your
little butts, do a bit of work and buy some mining shares if you wish
and if you think they are earning too much. In fact it would be
good for Australia and our current account deficit.

But nope, easier just to try and grab it by law from those who
have worked their little arses off.

And of course the big issue here. Mining royalties belong to the
States, not to Canberra. Its another grab for power by Canberra,
as Kevie wants control over those States, by emasculating them
financially. Shame on him, for as we have seen by the evidence,
Canberra has a huge problem with handling money, in fact they
are rather hopeless at it.

Overseas investors are going to take one look at this little joke
and next time Canberra pleads for overseas investment, they
will burst out laughing at our banana republic. But then,
when the resources market has turned cycle and we are on the ropes,
we might actually need the jobs

Yabby
We will have to agree to disagree on the impact of the mining tax.

"...all have the opportunity to get off your little butts, do a bit of work and buy some mining shares if you wish and if you think they are earning too much. In fact it would be good for Australia and our current account deficit."

Why do you make assumptions about people's work ethics based solely on their views on the mining tax? What makes you think those for the tax don't have confidence in mining shares? It is only the bleatings of the mining sector that are promulgating the view that mining shares are no longer viable. You can choose to take that on face value or do some lateral thinking. Your choice.

Is it only those involved in the mining sector who work hard? Try working for a while in the community and health sectors where resources are limited but demand high. Farmers I know also work very hard in a fluctuating market.

You are becoming emotive Yabby, argue on the merits of your view rather than attack the assumed work ethics of those whom you know nothing about.

Yabby, we aren't talking about little fella investors here... Stop trying to pretend we are. Ordinary investors cannot be made to pay over the top marginal tax rate, period.

The company on the other hand, if it declares a profit dramatically exceeding the benefit to the local community (which you were arguing for earlier, until I pointed out that FIFO miners do not a scrap for the local economy).

We don't get two bites at this cherry, once its gone, its gone... I have no intention of not only squandering my kid's inheritance but explaining to them how I paid for the privilege. The miners being targeted by these measures are majority owned by massive multinational corporations that rape and pillage the third world, except here, where it is actually cheaper than the third world.

As it is pretty much a done deal (if the States want to keep all those lovely GST $$$$, instead of losing them to the Commonwealth to fund the Health Reforms, they'll lock the miners in). All they have to do is modify existing legal arrangements, so that a lease which does export at least one ton of ore per year, is deemed to be abandoned and forfeit to the Crown.

That's all that need happen. That is why the Mining Companies are screaming the place down, because they don't have a hope in hell of beating it in Court, they either stop it now, or accept it forever after.

I'm wondering why you are so frantic in arguing this, you are skipping arguments, becoming emotive and generally refusing to accept reasoned argument. What iron have you in the fire, so to speak, and why do you think it's at risk?

Surely, anyone with half a brain realises that to tax a company for profits over 6%, which by the way they can earn sitting on thier hands is where the problem lies.

Furthermore, much of the infestructure used in mining has a very limmited life span. Sure, it gets depreciated, but, when it comes time to re-tool, how do they borrow the money again once thier balance sheet shows a huge hole in their profits thanks to this tax.

It is simply a 'no-brainer'.

*The miners being targeted by these measures are majority owned by massive multinational corporations*

Nonsense Custard. BHP has half a million mum and dad shareholders.
Super funds own a good chunk of the rest, super funds represent
the retirement savings of most Australians and many overseas
little people too. If you think that this bit of fiscal thuggery
is not going to affect their dividends, then you don't know how
to use a calculator.

I know parents and grandparents who buy their kids a few shares,
it teaches them how to save and how companies function, about the
economy etc. Its also pretty good for their future.

*until I pointed out that FIFO miners do not a scrap for the local economy).*

Yeah but that was rubbish too. As it happens, my nephew does FIFO
and when he's up North, he's based in Hedland. A few of them share
a house, he buys his food at Woolies, goes to the pub etc. PH is
screaming for better facilities and its only the WA royalties for
regions programme that is finally delivering. Its exactly the
reason why the last State Labor Govt was kicked out. Now Govt is
delivering and mining royalties are doing it.

In a town not far from me, when the last Labor Govt ruled they
could not even employ policemen as there were no houses for them
and their families. That is how bad things can get in the regions.
Mining royalties for regions has now delivered 2 houses. You city
slickers are totally unaware, about how city centric your focus is.
Well in WA that has changed and if Qld has any brains, they will
do the same with their royalties. That adds up to enough regional
seats to change the Govt.

*As it is pretty much a done deal*

Its not a done deal, as WA won't be blackmailed.
So keep sucking lemons Custard:)