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.

I'd like to see something extra considered and discussed openly ...

(One of my concerns in relation to this Tax and the Carbon Tax was the inadequate advanced discussion visa vi a range of possible scenarios. I have some fears for the *Greens* when power and influence are given too easily)

.. and that is that the miners should be made to tithe to a materials stockpile at cost, for the benefit of our manufacturers.

I would not have you forced to compete against subsistence slaves in order to be able to delight in the pleasure of the personal growth, development, achievement and self sufficiency that comes about from making things.

..

Of course, the present counter balance may in some way turn on our shops being full of Red Harn Chinese stuff and if as a nation we stop purchasing so much of it in preference of other nations produce and perhaps also some of our own, that they in turn may be less inclined to purchase so much of our mineral resources.

I would agree that as a huge, wealthy land mass with a big g.d.p. and only 25 odd mill people to look after that we should capex work towards suring up a *Living Wage* financial security solution for everyone, without that needing to mean giving people something for nothing or pulling us all down to the same level.

A lot of the inefficiencies comes about in situations where people are really just seeking to avoid the human economic scrap heap and retain their *Living Wage Security Solution*

I think that blade can be blunted off and padded up a bit.

..

I hope that the *Greens* in their pursuit of realising some of their ambitions, do not lose their sensitivity in that regard and risk falling too soon from the *Mountain of Power*

Relax Rechtub, I agree with you, its a good thing.
Mate lets look, Tony Abbott, he says he will stop it.
Take back the pension increases the tax cuts to small business.
Our trick cyclist Tony the phony, says we get enought tax already.
He is ok with NSW and WA increasing Royalty's/tax, not Gillard.
Phony Tony tells us about the forgotten Australian family's.
But forgets to tell us it is him, not Labor who forgets them.
He wants to cut this tax, but charge every house hold $1300 a year to fund his cash for polluters plan.
Wants to take pension rises and your tax cuts away stop the funding of vital infrastructure all over this country QLD and WA need that badly.
Once no more we dig it out.
Once no more , MINERS AGREE,we can help build this country.
Fear and dread bought about by our worst opposition leader since Mark Latham, phony Tony is a joke.

I think all the gloom-and-doom talk about the "terrible effects on mining" is somewhat exaggerated.

The proposed additional tax burden shouldn't be enough to drive companies away and they'll still be here making a fortune out of our national resources even after the additional tax.

I say call their bluff. There would be a multitude of other companies willing to take up those extremely valuable leases.

It's just another collection of noisy self-interested lobby groups like the tobacco industry and the clubs trying to scare people into maintaining their profit margins.

At least this time there will be something to show for all those big holes in the ground they leave behind, otherwise we'll end up like Nauru when they finally pack up and go.

We in many matters, are finding our selves in a fog of miss information.
What better way to confuse us and influence our opinions than enlarge by deception issues.
Mining tax is a weapon.
Remember Rudd's first one, the screaming and shouting.
Miners spread millions about in fighting it.
Rudd fell under its wheels, and Gillards self interest.
Abbott rode it, to rocket up in the polls.
He however should have got off, a few stations before.
He rides his rocket, unaware it has stopped propelling him.
It and he, has started its fall.
Few will believe, but mark this well, Tony,like his rocket is nearing his end.
Even a victory, even a landslide one, while giving him his dream , will be his end.
Tony has fired up his supporters, planted fear of sending miners off shore, maybe mining sand?
And now, we may conveniently forget, he cannot, he needs the mining tax,can not remove it,it would destroy him.
How will Tony fire up his rocket, turn it around, and convince his team it is best to break promises not the bank?

Yabby, no good planting super in a super fund these days, they make no money.

But they do employ hundreds of thousands of people who do absolutely nothing of any value whatsoever, except draw an income from the punters who are compelled to 'invest' in loss-making scams.

It is highly unlikely that this tax will raise anything like what Swan says it will, and then whatever it does will last only until there is a downturn and 'profits' evaporate again.

What then? Who will be paying for whatever schemes Swan thinks this will be shortly?

There'd be a better social, health and economic benefit if health were funded from this imaginary pit, or public education, than the illusion of super in today's world of collapsing economies.

Those Grey Gypo's should start investing in tandem bikes and tents if they want to keep mindlessly travelling the outer edge of bitumen from retirement to death.

*no good planting super in a super fund these days, they make no money.*

TBC, they make as much money, as those supposedly evil corporations
make. From BHP, Woodside, the banks, Coles, Woolies, etc, Australian
workers basically own a large share of them. The ASX is worth around
1.3 trillion, which is roughly how much workers own in super.

Perhaps those evil corporations just arn't making as much money
as many of you keep imagining.

Belly, just imagine what a bonus the mining tax would have been if labor had not been allowed to economically vandalize this country.

At best, the mining tax may replenish some of, if not all, the money that labor has wasted through their incompetents and miss management of our economy.

As for the job ahead for Tony, or his successor, it will come with challenges not seen before, as they will be starting from a long way back this time.I am of the understanding 

I see small business closures everywhere now and this is just the beginning.

Your lot have no idear of the consequences of their reckless policies, some of which are the result of behind closed doors deals in partnership with the greens and wanta be independents.

I just hope for everyone's sake they have got it right this time, as I doubt we could come back from this if it fails.

Let face it, the track record ain't to good.

BTW, I did not say the MRRT was a good thing, I simply said it would be good for the immediate economy, but at what cost?

There's no customers coming through the doors and you blame the govt;
Consumer confidence is not there , so it could be a few years to get that confidence back, seeing there will not be any stimulus.
So many more closures will occur, for those who don't diversify.

*There's no customers coming through the doors and you blame the govt*

Ah 579, the Govt should have paid attention to what they learned
at nursery school. Like don't put all your eggs in one basket or
put something away for a rainy day. If Costello had a good memory
and remembered, why are they not able to?

At present all they are doing is knocking in nails to justify people
shutting up shop. Increasing super from 9% to 12% will cost another
20 billion or so a year. If I was an employer, I'd be getting rid
of all the staff I could