although i get that you can only dig up a resource and sell it once, and that the resource fundamentally belongs to the people of the country in the first place, i still have a problem with targeting mining companies in general. why not a flat 'big company' tax that would also apply to banks and other multinationals...
like its fine for the gov to give taxpayers money to the banks and guarantee their balance sheet, while they dont pass on interest rate cuts to the people in order to make buckets of money, but its not ok for a miner to make too much money... and dont even start with companies like apple not paying any tax in australia...
a little bit more radical, i also think a companies tax rate should be linked to the number of people they employ; if they employ lots of people, they pay less tax, but that's another story...
FMG Price at posting:
$4.58 Sentiment: None Disclosure: Not Held
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