Australians are as gullibly stupid as Americans!

[Guest]

shouldn't all the money in the world go into a pot and we all get an equal share no matter how hard we work ?

I'll let famed Hollywood actor Gary Cooper frame my response for me.

Thusly.

[melon....]

Can the mining industry afford this tax melon?

Chook.

Do they make enough to pay it? Absolutely. Should they? Im not so sure. The question should be can the Nation afford this tax?

Remember Chook, Large companies that make billions already pay billions in tax. We are lucky to live in a country where we can build wealth under capitalism.... like it or not buddy, thats the way it is. Without these big players, we are dead in the water. Do you think Kev and Wayne would have looked so good if the Rios and the BHPs didnt convert China's demands through the GFC to GDP? We would have crumbled.

Dont bite the hand that feeds thousands of every day Aussies.

I think its time the Labor government seriously started managing money. They have to stop the waste. Y9u cant expect big business to bail a poor government out.

[Kingbilly]

I'll let famed Hollywood actor Gary Cooper frame my response for me.

Thusly.

and lets not forget we are all equal, just some are more equal than others...

[Guest]

Do they make enough to pay it? Absolutely. Should they? Im not so sure. The question should be can the Nation afford this tax?

Remember Chook, Large companies that make billions already pay billions in tax. We are lucky to live in a country where we can build wealth under capitalism.... like it or not buddy, thats the way it is. Without these big players, we are dead in the water. Do you think Kev and Wayne would have looked so good if the Rios and the BHPs didnt convert China's demands through the GFC to GDP? We would have crumbled.

Dont bite the hand that feeds thousands of every day Aussies.

I think its time the Labor government seriously started managing money. They have to stop the waste. Y9u cant expect big business to bail a poor government out.

A simple yes would have sufficed. And that highlighted bit is bullshit melon and you know it. Big business and big business men pay fark all tax. They offset, de-value, offshore, downgrade and take advantage of every tax evasion their lawyers can scheme up. Workers pay far more tax than your "big business" ever does.

Chook.

[melon....]

A simple yes would have sufficed. And that highlighted bit is bullshit melon and you know it. Big business and big business men pay fark all tax. They offset, de-value, offshore, downgrade and take advantage of every tax evasion their lawyers can scheme up. Workers pay far more tax than your "big business" ever does.

Chook.

Dude. They already pay resource rent taxes. Where do you think Julia's going to get money to pay off the massive debt? Mining companies. As long as China builds we'll be OK. Rich ****ers like Forrest may or may not pay personal tax at the level they should, but dont tell me the payroll tax BHP, RIO and XTRATA pay is insignificant. Nor is their Company tax.

id rather mining make the people investing in it rich and ensure they re-invest in it than offer money to governments like Gillard's that squander and waste. Now thats a fact.

Why do lefties hate wealth creation? Especially when it goes a long way into making everyday investors and workers wealthy?

Socialism and wealth redistribution is a disease.

[Pass the Ball]

We don't agree often Chook, but I am with you on this one.

The stuff in the ground should benefit all Australians..

It is absolute rubbish that the mining industry would go elsewhere if the new tax came in. Even if they did, they would be back and each day that goes by, the stuff in the ground is worth more and more..(More value, more tax)..

A new mining tax would just be passed on to China to pay, and guess what? They will pay it..What's wrong with the superfarkinpumping Chinese economy supporting all Australians even more...??

Natural resources are what makes Australia rich...Why not make the most of it..??

[Guest]

Socialism and wealth redistribution is a disease.

I'm not talking about socialiism or wealth distribution so please enough with that bullshit. I'm talking about paying your fair share, you're all for that aren't you melon? And the mining companies and their owners are not paying their fair share! Plus they are taking much of the wealth they reap offshore melon were it benefits not one farking Australian!

These pricks know they can pay more, my original link proves that. They'd just rather spend 30mill on some bullshit add campaign that scares the lemmings into thinking the pittance of so called wealth they don't get is going to dry up. Jones and Hadley and the Libs scream this crap from the roof tops and the idiocy that is the Australian Public fall for it hook, line and sinker.

Chook.

[Guest]

Dont bite the hand that feeds you.

The only thing the mining industry is feeding is an Australian version of Dutch Disease. When it all goes pop it will be the rest of us feeding all the miners... and there will be a lot of them to feed.

Socialism and wealth redistribution is a disease.

I think people underestimate the systemic risk the banking and mining industry has put australia under. It was pretty clear during the GFC that our "safe" banks not only had to be rescued with government guarantees, but our "safe" banks also needed government rescue packages worth $10s of billions of dollars.

As far as the mining industry goes, we have already sold off or gotten rid of large pieces of our manufacturing and agriculture industries and diverted those resources to the mining industry, not to mention the 100s of thousands of migrants brought into the country who are now permanent residents. If China does slow down as many are predicting that is a whole lot of people on the dole with no other industries to fall back on.

In summary, it is not about socialism or redistribution. It is about managing risk. At the moment all the mining and banking executives are making all the money, and the goverment is taking on all the risk. Time these f*ckers paid up so the govt can have some in reserve to rescue the banks and pay the miner's dole checques if and when it all turns bad.

[Kingbilly]

I think people underestimate the systemic risk the banking and mining industry has put australia under. It was pretty clear during the GFC that our "safe" banks not only had to be rescued with government guarantees, but our "safe" banks also needed government rescue packages worth $10s of billions of dollars.

Compared to what caused the "GFC" that is absolute rubbish.
The banks here in the majority were not badly off, hence the huge profits they have continued to make.
The guarrantees that the government instigated were and unnecessary knee jerk reaction.
There were no rescue packages for the banks, just guarantees that were not even needed.


It was overseas financial institutions that caused the problems and idiot "small time" investors like local councils that got stung.

[Guest]

Oh and if socialism is a disease, capitalism is a plague and just like socialism it will inevitably consume us!

Chook.

[Guest]

There were no rescue packages for the banks

Because you believe the BS the govt and RBA were spinning. Funny how the RBA delayed this announcement by two years: http://www.brisbanetimes.com.au/busi...202-18i89.html

Also funny how Westpac and NAB violated ASX guidelines by not announcing news that would have a material affect on share prices. Of course they won't be investigated.

The banks here in the majority were not badly off, hence the huge profits they have continued to make.

A few tips:
- the govt is not so stupid not to have foreseen an increase in FHOG would actually make housing less affordable.
- The banks didn't cut dividends and raise large amounts of capital well above "expected" writedowns just for the sake of it.
- The Commonwealth Bank's worst case scenario of a 40% drop in property prices only equating to a 0.3% loss of balance sheet was calculated by the CEO's 6yo son.

[Kingbilly]

As I said our government did not bail out any banks.
They were still doing pretty damn well and spending up on the IT side of their business (always a sign of whats really going on).
The fact they are took money on the US inside says nothing about the Australian operations. The US arm was obviously suffering

Many companies in Aust were affected, but alot especilally big ones were not afected that badly. They used its as an excuse to cut costs and staff and improve profits and therefor bonuses for upper mamangement.

[Guest]

Geez, you really have your facts twisted. During the GFC the IT departments at CBA and Macquarie Bank were slaughtered with retrenchments with contract terminations. They are two companies I still have connections with. Not sure what happened at the other banks but I would be surprised if they were still "spending up on the IT side of business".

[Kingbilly]

They are also companies I have contact with and they were still spending as far as I heard from friends working there at various levels.

[Guest]

Just in the last few days:
http://www.news.com.au/money/money-m...-1226008825157
http://www.news.com.au/business/bord...-1226007690029
http://www.smh.com.au/business/recei...217-1aybl.html


No need to raise taxes, our mining and safe banks will forever keep the economy bubbling along (pun intended).