Monday, May 24, 2010

The Mining Tax

I wonder what it’s like to be a labour back bencher in the Rudd government when their leader is out of control?
How dare he contemplate a ‘super tax’ profit from specific businesses touted by him as ripping Australian’s off just because they have the temerity to be profitable. This is beyond big brother, beyond Maoism and beyond Stalinism – it an affront to every Australian living in our free enterprise supposedly Westminster based democratic society.
I heard a lame excuse from the Prime Minister that it was because the taxed companies were foreign owned, successful and indeed mining Australian natural resources. Canada is champing at the bit just itching to garner investors dismissed by Rudd as I bet are many other countries. How would Rudd explain it if other countries taxed Australian companies profits in their country just because they were profitable? His actions are bordering on nationalising a countries infrastructure through financial stealth – this happens only during war or if your name happens to be Mugabe. This amounts to taxing management success.
There is no doubt that foreign investment in our country needs to be curtailed but this should be controlled by controlling the resource and who owns it, not by taxing the managers or the shareholders. So much for self funded retires using dividends from ‘blue chip’ stocks as a living wage.
This man is ignores climate change because other countries ignore the issues, retreats Australia to the back of the pack by his actions when we should lead the world and now he bolts from proper controlled foreign investment by suicidal profit nationalisation.
Get rid of this Government.