Taxing the efficient and the successful to fund the incompetent and wasteful is hardly a way to prosperity.
Commodities are cyclical. To pretend that the boom we had over the previous 5 years or so will continue is ridiculous. It's like taxing farmers for 'super profits' after a bumper season and ignoring the 20 hard years previously. The resource industry like any other deserves its periodic bull run profits, as do the investors smart/brave enough to put there money into these companies. This puts money in the coffers for the inevitable downturn.
What will Rudd do with the money raised? More useless insulation? More over priced schools? $100 billion in a make work, technically redundant, national broadband network so the slobs can get their porn faster?
Thank goodness we missed the implementation of ETS by a bees donger or we'd really be screwed over.
I don't think I could sink a country faster if I tried.
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