Hi SP you obviously feel strongly in your opinions lol and are entitled to do so. I do however wish to point out that on a net basis they do not incur a 40% increase in their effective tax rate.
Mr Rudd was elected for three years by a majority of the people of Australia. For all intentions he still seems to have the support of at last half the Australian voters. Those voters views have equal weight to those with the opposing view and many may vehemently disagree with the views that are projected in your post.
I personally disagree that the miners shouldn't pay more tax and many economists support the governments proposals. I also disagree with the assertion that it is retrospective when it only applies to forward profits and does not start for some time yet. Furthermore, the people will have the opportunity to make their decision on the issue at the coming election.
On this investment forum their is bound to be a lot of aggro because of the impact some perceive it may have on ones investment. Any reduction in profit for whatever reason including tax will not be seen by many here in a positive light and it is understandable. But governments are entitled to govern in what they perceive to be the national interest whether or not we as individuals agree or disagree with any of their policies. Our recourse is at election time through our vote and our chatter here is just an academic debating exercise by HC members.
I sympathise and empathise with anyone who perceives this particular policy is a detriment. I fully hope that at least there will be some compromise that will be considered fairer and will improve the market sentiment for HotCopper members.
cheers
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Hi SP you obviously feel strongly in your opinions lol and are...
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