I think the tax changes will be a success for Rudd and Labor. The average joe has no love of BHP or RIO, and will be pleased to see them pay more to operate. And,what can they really do? It's hard to relocate an iron ore deposit to a low tax territory like the Cayman Islands. RIO in particular have made a lot of enemies amongst workers, unions and governments, and had it coming. They have an attitude problem, and now they can start to pay for it. Some of the mining profits will go to infrastructure in Australia, and not overseas investors and overpaid directors. Small mining companies will get concessions, which suits me, as these are the ones I like to invest in. Superannuation will be made stronger, reducing the government's, and thus the taxpayers, long term liabilities. Governments need money,to satisfy the endless demands of people who won't pay their own way. They also have a legitimate claim on money for projects and activities best undertaken on a collective basis. Taxation rather than borrowing is the safest way to get these funds. It is best to take the pain upfront. The alternative is well demonstrated by Greece.
