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Wednesday, June 9, 2010

Peak mining body ready compromising

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Another reason why Australia and other countries move towards fascism is because of their short-range thinking and lack of principle. They simply don't see the long term implication of their ideas. Its truly remarkable.
When a man comes to your door and demands $100,000. You do not give it to him readily, unless your life is at risk. If he suggests another proposition... "ok I'll let you give me just $50,000" you consider that a good compromise.
The answer is 'NO'. That is not a good compromise for several reasons:
1. You would have conceded an important principle...the right of government to make any arbitrary imposition upon you...for any dubious reason.
2. The government originally intended to make an outrageous claim with the expectation that you would compromise.
3. You will have established a precedent for the government to attack other industries by the same policy initiative. i.e. The old strategy of 'divide and rule'.
4. You will have given the government the legs up, as far as coming back in future for a larger slice of the cake.
Mr Hooke said the minerals industry was not against paying more taxes as it became more profitable, but the design of the government's proposed new tax was flawed.

Contrary to commonsense, the Minerals Council of Australia is ready to give the government what it always increase in tax on mining. The Resource Rent Tax will do two things:
1. It will make government effective 'free carried' owners of capital
2. It will expose the government to financial risk, i.e. the govt will have benefits and obligations
3. It will have extended the hand of government into industry
This is the most courageous act of fascism since President Chirez of Venezuela nationalised the oil industry and Mugabe of Zimbabwe nationalised the farms of white landowners.
Andrew Sheldon
Resource Rent Tax
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