wilkie wants a bigger mining tax

"Independent Andrew Wilkie has threatened the Gillard government's mining tax, warning he will block it unless it is fundamentally redrawn and possibly expanded to capture profits from more mining companies.

Mr Wilkie, the first independent to pledge his support to Labor in the hung parliament, says the proposed mining tax is "unsatisfactory", must be redesigned from scratch and should be included in next year's proposed tax summit along with the rate of GST."

http://news.smh.com.au/breaking-news-national/wilkie-threatens-to-block-mine-tax-20100911-155d7.html

When are these ignorant morons going to learn that this continuous taxation one-upmanship and protracted gab fests and endless "redraws" only drives investment AWAY from this country.

What project that is approaching the funding phase can possibly get up as long as these clowns argue over just how much monopoly money they can gouge out the sector?

It might be OK for BHP which has more money to draw on than most banks, but if you are a junior that has spent the last 5 years working on your project and now seek some funding to get it up ..bad luck. Nothing will happen as long as the fighting over the size of the "socialist redistribution" ensues.

BHP and RIO must love this. As long as the arguing continues they can keep making the big money, and they know that none of the juniors will get anything up that could pose a threat to them. The duopoly some to become monopoly continues unabated.

Not one person in this "ship of fools" government has made a comment on what they can do to encourage the sustained "growth" of the sector. There are all too busy arguing over how much each of them can take off the corpse. Who would start a mining company now?