As expected, Australia passed a contentious mining tax expected to raise $11B over the next 3...


As expected, Australia passed a contentious mining tax expected to raise $11B over the next 3 years. "We've got a spectacular resources boom," says PM Gillard, "It makes sense to take some money from the turbo-charged section of the economy and share it more broadly." Will the tax be repealed when the boom turns bust?

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Comments (3)
  • davidingeorgia
    , contributor
    Comments (2661) | Send Message
     
    "We've got a spectacular resources boom," says PM Gillard, "It makes sense for political leeches like me to take money from the one section of the economy that's working and share it more broadly with those who will vote for me and my party in the next election."

     

    There. Fixed it for you.
    20 Mar 2012, 07:55 AM Reply Like
  • Trader Monk
    , contributor
    Comments (130) | Send Message
     
    David..your analysis is sharp..again..!
    20 Mar 2012, 08:39 AM Reply Like
  • Ed's perspective
    , contributor
    Comments (265) | Send Message
     
    the ultimate political freudian slip . . .
    the word "take" was sooooo revealing.

     

    wonder how it stacks up to say .... Canada ?

     

    it's all about economic competitiveness and if they insist on instilling big costs into the system they will find at some point the goose will no longer produce the literally .... gold(en) eggs.
    20 Mar 2012, 08:06 AM Reply Like
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