is anyone prepared to back a higher mining tax, page-12

the original Rudd plan was also deeply flawed

(1) Swan doesn't have the intellect to understand it or explain it. He used lies to try and sell the tax by denigrating miners and didn't understand cost of capital concepts

(2) revenues needed to go into independent sovereign wealth fund, not consolidated revenue (which was a black hole for Labor stuff ups)

(3) tax applied at risk free rate and should have commenced at a premium above that rate to reflect risk

what a lost opportunity