Prior to the resource boom there were plenty of miners doing it tough, many relying on govt concessions to make projects feasible. Tax the good times to fund the bad times, simple really, helps smooth business cycles (as much as a business cycle can be smoothed).
Marginal projects may not be feasible under the new tax regime but guess what happens? new supply doesnt flow into the commdoity markets underpinning commodity prices, over time as prices rise these projects will gradually become feasible again. The effect being it PROLONGS our resource economy, better than having a severe boom bust scenario where every project in oz is switched on steadily increasing supply to the market, placing stress on our labour market, inflation etc. When things go bad under this situation the Bust is severe.
Just need to think a little deeper, too much emotion and dare i say it too many are eating up the Liberal scaremongering, Australian people need to be smarter.
