The news reports are shit. Anyone not in the sector hears 'Boom boom boom. Everyone is earning $200k+' yada.

Everyone then thinks everyone in that sector is a multimillionaire and they should up their prices to suit.

KRudd then appeals to the lowest common denominator "I'll tax those bastards, that will show them". The masses cheer.

Smart people realise that there are plenty of mining opportunities elsewhere in the world. Current miners shut up shop and move to the next place. Within 10 years, we're all unemployed. The super tax hasn't made enough to pay our dole money. Sales of cardboard box houses go through the roof.

However, if the taxes were the same for everyone (i.e. the current corporate tax rate) BUT all these projects had to use local suppliers, the tax that they would pay would outweigh any super profit tax. If no one in Australia can do the job/supply, bring them over here. Let them pay taxes, buy houses, buy cars etc here. Doing this feeds the whole economy.

I am sick of hearing about the $50+ billion Gorgon project. The news should report how much of that $50billion has gone out of this country and how many Aussie jobs KRudd has effectively outsourced.

Also a super profit tax should be imposed on all companies making super profits, not just miners. If ABC makes $10billion, then they pay the tax, regardless of how they earn it.

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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]