Unhedged, even "40% of all profits that are above 6%" would be bearable, not pleasant, but bearable. But what Rudd is doing is adding this tax grab of "40% of all profits that are above 6%" and then double dipping by applying company tax to what is left over.
In addition the Rudd advertising propaganda talks of a simplified tax system. This new Resources Tax grab is so complex that it appears its Ivory Tower inventors in their hypothetcal Fantasy World didn't distingush between cash flows and profits.
