i'll give it a go. when a lot of people who are v knowledgeable about macro and micro economics sit down and revise the way we do mining tax, with the aim of benefiting the whole community, and come up with an answer, im prepared to give it a go.
we will have a flood of wealth pouring into this country and i would like to see some real good come of it. it seems most others are happy to let a (relative)few make a gazillion dollars.
the politics behind all this infuriates me because the opposition are trying to kneecap something good for the country for their own agenda of getting into power.
90% of the discussion about all this is just noise. blokes like mitch hooke, who get paid to yell on tv,and mining bosses, who get paid to defend their shareholders, taking up all the airtime because the media want to provoke the fight. sell more copy.
as for plv, jeez. when we are making so much money that we pay this tax, however it is calculated, i will be dancing in the street, not grizzling because a few bucks have gone out of my wallet, (if that happens) and instead helped pay for some kid's hospital bed. and that is not hyperbole, cause any extra dollar that goes into the govt coffers is a dollar spent on a service somewhere.
as for garnaut, he knows a thing or two about business im sure, and he is not jumping up and down like a fruitloop. im sure the mining bosses are spewing he came out on the side of the govt.
id like to hear a few reasons why it will kill the industry as everyone is saying. rhetoric doesnt cut it.
oh, and if fmg, rio, and bhp cancel a few io projects, then bloody good. less io on the market, better price for us. but hey, i dont care either way. im not gonna whinge cause someone else is (theoretically)taking money out of my pocket. may even be a few drill rigs laying about who would be happy to check out northwestern tasmania, or a little island off the kimberly that i know of...
PLV Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held
