Don't get me wrong, the mining tax, should it pass, will be very good for our economy, but it is the future that bothers me.

My take on it all is that mining companies are simply vehicles that share holders park thier dollars in with a view to getting a safe return.

While many projects may have a 20 year+ life span, it's the future projects that I fear may be at risk, as any additional tax, let alone this monster, will have serious impacts on future share capital as there is little doubt the returns will be smaller and many shareholders will take their money and place it somewhere else.

It's a short term gain, but is the risk of long term pain worth it?

Nope!

Yep!

Dear rehctub,

All the investors and the mining companies are interested
in as you rightly point out - is the short term gain.
They don't seem to be concerned about the future.
It will be somebody else's problem. In the immediate
term - the mining tax is a gain for the national economy
and should not be dismissed lightly. Upon the mining tax
gains - future growth of the economy if properly planned,
could negate the inevitable reduction of the mining industry.
(If you take the tax now, invest it wisely for the future,
you can reap the benefits).

*All the investors and the mining companies are interested
in as you rightly point out - is the short term gain.*

Oh nonsense Lexi. I know people who inherited their BHP
shares from their parents and will pass them on to their
kids. Everything that a company like BHP does, is big
picture planning for the longer term. They are making
investments now, which will benefit your grandkids, just
like their iron ore investments of 20-30 years ago, benefit
you now.

Fact is those grey nomads need an income to cruise around
Australia, enjoying their retirement and mining shares
are one way which they do it.

Even Belly and others, who rely on their super fund income,
rely on steady growth and income from miners.

When Govts take it, its peed up against the nearest tree,
as we all know.

Dear Yabby,

As always we have to acknowledge your expertise
in so many areas - especially seeing the trees
in the forest.