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Crank up mining royalties on Iron ore, page-9

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pintohoo

96,817 Posts.

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22/03/20

11:09

Post #: 43628482
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Originally posted by EyeoftheTiger ↑

Hey are you too young to remember the mining tax? This idea has been tried by socialists before, they're always money hungry because they love to waste other peoples coin on stupid ideas like the NBN.
The Mining Tax failed because it is a stupid idea that does not work with the incentives that are required for the risk taking required in the exploration-mining industry.
You see a successful industry and all you want to do is milk it. You ignore the fact that in any given year 80% of junior explorers make a loss, RBA stat go look it up. Juniors spend years and millions of dollars on exploration, that expenditure has to be recouped when a mineral/energy deposit can be developed, if you "crank up" the royalties you will severely jeopardize the industry and eventually impoverish this nation.
Make your case for why I'm wrong, but don't attack my character.

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Mate please

hasn’t it dawned on you in the last days that when the shit hits the fan- the socialist levers are reached for?

capitalism fails when real life comes along
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