One word 'super' changed Australian history. When Rudd was PM,he...

  1. 1,219 Posts.
    One word 'super' changed Australian history. When Rudd was PM,
    he wanted to tax the Excess Profits that billionaire miners made.

    He called it a 'Super Tax' that many voters thought meant a tax on
    superannuation savings. Hence his plunge in popularity that Julia
    exploited for a power grab. As PM, Julia was a big spender on
    social programs but was inept at raising revenue. She needed
    a quick negotiating success (to be unlike Rudd) but the
    Big Miners played hard-ball. She caved in and the
    excess mining profits tax only got $200 million
    not the projected $2 billion in revenue.

    The problem was: Julia had committed $2 billion (she didn't have)
    to her social programs. Rudd was right in playing Hard Ball with
    filthy rich billionaire miners. They played Julia like a fiddle.

    Rudd's big mistake was to call his excess mining profits tax a
    'super' tax which confused voters. One word as his undoing.
 
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