whats doing, page-4

hpather- your right miners will still make huge profits just not here...if you look at the detail of the RSPT, given the level at which it is levied, at the minehead before significant financing costs, it acts more like a GST eg tax on cashflows than a profits tax. No one including myself or you (unless your a fool and want to be soon parted from your $) will invest in future development on which you loose 50%+ of your cash flow to a tax. You wouldn't do that for a grocery business, a office supply business or a mine. Mines in Australia are not that rich to carry a 50% free carry for a freeloading silent partner. Just look at black empowerment in South Africa at 26%, no one is putting new money into mines there, the mines are not rich enought to carry a 26% free carry. This tax will destroy new mining investment as the existing mines are milked dry to plug Rudd's deficit. You're children will be very angry with you for selfishly destroying their entitlement to plug a short term deficit originally used to fund plasma TVs, gaming and alcohol consumption, insulation batts and spendthift school building...U NEED TO THINK ABOUT...