I'm not one. But I do feel sorry for the shareholders of the likes of BHP. They puchased shares in BHP In good faith with realistic earnings targets in place. Now the government is going to take a decent chunk of that and a percentage of anything that increases in the future.
BHP and a lot of the miners are blue chip stocks. We all know these attract mum and dad investors as traders normally take on stocks with a more into a little more risk. Self funded retirees also a lot have moved into bluechips after the GFC. So I see this tax as hurting those that need it the most.
Our mining industry has been one thing that has been kicking us along. desreasing potential returns will most likely stall investment and stop mines being built. Everyone knows you should never bite the hand that feeds you.
