Backyard Aquaponics
A place to discuss aquaponics

This started up on Ivan's thread, but I figured it could probably do with it's own thread. Those in Australia have heard about it, those OS may not have. The basic gist is that after a major independent tax review was recently released, one of the recommendations from the review was a change in the way companies who mine nonrenewable resources get taxed. The new tax is called a Super profits tax, and of course companies who are going to have to deal with it are not happy..

The governments push is "Why sell off your resources too cheap, lots of the profits are going overseas". The mining sector says "We are shelving all future projects, Australia is going to suffer big time".

What are your thoughts on this, is it time for these companies to pay more, or is it a risk to Australia's investments/employment etc ?

Im gonna be really dissapointed if the government caves in to the cr4p that the mining companies are spinning in the media

Agreed

As mentioned in my reply to my thread, there is no problem with taxing the mining companies more, but it is the timing...

The problem with bringing this out on the table right now is that the resource industry is just starting to pick up and writing bigger budgets for future investments... it is just starting to build momentum to move capital spending forward...

Comes along this tax, the mining companies spinning shit and excuses... they know they need to pay more tax, but do not want to... they have an excuse because they have just sort of recovered from GFC.... meanwhile, projects are put on hold, project that are meant to create hundreds more jobs are put on hold... who is suffering... not the mining companies executives and the government, the average worker... the families, etc....

Say for example, if this tax was brought out a year later, projects are steaming along, market confidence is back, this tax would be received under a different context...

But that was a big IF now...

IMO if the government does not cave somehow, they might lose their election.... mining companies are sending a subtle message to the average voter that the introduction of this tax is causing them their jobs... without saying too much, it is actually happening in a few different ways as well... not just in the media...

I'll live in hope that the average voter defers to the governments leadrship ( regardless of what party, and regardless how slimy all political parties are ) than being led by big corporations

were in safer hands being run by political parties than if we were run by corporations, despite the huge control the corporations have over said political parties atleast were one step removed from being run by them

hopefully Labors got the balls to stand up to them and say NO, COUNTRY comes first, not COMPANY and as a government they were elected to best serve the PEOPLE of australia , not the profits of huge multinationals

someonbe told me that BP had said Australia is now their biggest sovereign risk, even more dangerous to their viability as a company ( Profits ) than operating in Africa, what a bunch of crap

If Labor caves in to the mining lobbies demands, I reckon they'll lose a HELL of alot more votes than if they stand their ground. People will vote liberal cause they already knew the Liberals were in the corporations' pockets and almost expetct it of them , but Labors supposed to be different - the betrayal of that basic idea will lose them voters in droves

( although, I dont vote for either and I know nothing about politics )


either way, Im terrified of that demented medieval freak ever becoming our prime minister

But that's part of the bullocks and spin by the mining companies Ivan.... who responded when the GFC hit.... by sacking 15% of the sectors workforce....

By their own figures... they've now hired about 13% more workers since....

Mining companies are VERY quick to dispense with workers... if they feel the whim.... or if they feel the need to play politics...

And play politics they have.... throughout history....

The only governements which have imposed regulations and taxes on mining companies profits...are Australia, Canada and a few others.....

The rest.... have all been historically... dictatorships.....

And historically... even in Australia and American early histories.... and recent histories, particularly during wars.... the mining sector has never been what cpould be described as alligned to the left... the middle ground... or even the centre right...

Much of the bleating from the mining execs... are more about the push to change the goverment... than anything else....

exactly , cause they know they get a softer deal under liberal

Tony Abbott.... Johnnie Howard & George Bush's love child.... twice as evil and twice as dumb...

Hell... even his laugh is fake, forced and contrived....

I'm really disappointed that Rudd didn't use one of the double dissolution triggers....

I reckon the electorate would have smacked the conservative dinosaurs into extinction...

I'm all for the tax. Or have the government run it them selves. Never did understand why we need a foreign company to keep all the profits.

Locally we have had the council get its 30 pieces of silver(1.5m) for green lighting the creation of the grand canyon by removing coal from that wasted space where all the trees and animals live. And its nice to think we don't have to worry as much about the chemical in the drinking water from the cotton now. Have you ever seen water burn before.

All very valid points made Boris and Rupe in regards to the corporations, politics and government. But who is suffering while they battle it out... I am not siding the mining corporations or resource companies. I am merely pointing out the timing of this battle is crap... and impacts on jobs... and it gives the corporations another excuse...

Here in the US, we are further into the deflationary collapse. Probably hard for many of you to see it because your real estate bubble hasn't popped yet. Silly to delay this tax if you understand what is coming (it's a mathematical certainty). The unsustainable ALWAYS collapses.

This is a good read:
http://globaleconomicanalysis.blogspot. ... ining.html

Companies do NOT pay tax. The consumer does.

Now is absolutely the time.... contracts/prices are looked in for years to come... and profits...

There is at least one European country/bank ... that will ultimately "restructure" their debt... i.e. default....

The Euro may well collapse.... and the Uk go wobbly.... sending us all into GFC II....

And I think the mining companies know it... and that's the reason they're putting "projects on hold"... not the tax....

The tax may be the only thing that keeps our economy alive....

Not sure if I am not getting the point or not, but the article attached by cjinVT indicates 2 main points:
1) Australia tax plan is "global financial markets suicide"...
2) The tax contagion starts from Australia...

In summary, the report seems to indicate that the introduction of this mining tax plan is the "epic-centre" of GFC2.

So this could be true...

http://www.backyardaquaponics.com/forum/viewtopic.php?f=5&t=6069&st=0&sk=t&sd=a&hilit=great+depression+ahead

I better finish my AP expansion quickly then.... need all the food I can grow myself to feed my family...