So to the ordinary lay-man the term "super" means "Very large,...

So to the ordinary lay-man the term "super" means "Very large, great, or extreme"

yet to the Rudd Govt the term "Super Profits" will apply to any profit achieved on capital that exceeds the risk free rate of retunr (being Govt bonds or the cash rate)

So right now the risk free rate of return or RBA rate is 4.5% and so a super profit is any rate of return achieved beyond this.

How ridiculous a definition of "super profits" is that, anything which exceeds the risk free rate

well banks charge a margin on all loans that is well above the risk free rate of return, some will say they are providing a valuable service, I say they just have a licence to print money, but will the banks be charged abnormal taxes on their "super profits"?

and what about Casino's and lotteries? They earn Billions of $$$$'s every year and what value is it that they contribute to society?..... But its ok JP your Packer "super profits are safe"


At the end of the day Im just a mug punter but even I with my limited intelligence know the definition of "super" I mean imagine if Super mans powers were slightly greater than that of the average man..... he wouldnt really be "Super man" now would he, he'd be "Slightly better than average man" doesnt have the same ring to it though does it?

Well if this tax was named what it should be
"Super Tax on on any mining profits slightly better than the risk free cash rate"
well I imagine it would get an even harsher reception than what it is getting currently.


Thumbs up if you agree
Thumbs down if you dont
Thumbs sidewayz if ya need a lift
Bite your thumb if you dont care