I don't think they should be taxed more at all.

I do think they should be forced to use local suppliers and contractors and not just ship everything offshore for fabrication. This would provide great employment, create long term training needs and generate more taxes than any 'super profit tax'.

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

You dont think they should increase their contribution to the infrastructure of our city?

The state goverment isnt using their share to do anything, in fact the 1st thing that Buswell did was kill off a lot of major development just to bring his budget into a small surplus.

Im interested to know that if it could be made certain that the money would directly go towards infrastructure would that change any ones opinion?

Whether they should be contributing more, and whether the government lies about where the money goes are two seperate issues. We shouldnt be killing off the idea just because we dont trust where the money will go.

Perth and surrounding areas have been raped over the last decade with the new influx of population. Banks may make a lot of money, but they make it without having to do anything, so they dont put as much strain on our infrastructure.

__________________
[S]kid[S]

I also agree with this. Our company lost a tender to an international company. As a result of this 15% of our employees were made redundant. I also have a friend who used to work with us, who moved to the other company, and is currently spending a week in Korea testing equipment to be installed at Gorgon.

Additionally, I think the media has a lot to answer for in this country. I am pretty sick to death of both sides spamming incorrect and extremely speculative information. At the end of the day the share markets will follow the tone of the media and I would not be at all suprised if there are people writing these articles just to make money on the stock market. Prime example being the 'news' that RTIO expansion projects were considering the future of their projects. None of that information had any substance. A couple of days later, they edited that article stating the fact that they werent closing any projects. Good way to send the value of the shares you just bought cheaply back up!

And in case anyones wondering, my current career prospects are directly proportional to RTIO's EPs.

__________________
[S]kid[S]

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.

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

Agreed

We have a Communist in our ranks!

__________________
"sorry we all can't spell prefect english like you's .."

+2 Kato10 ?

a worthwhile read

Cliffs Natural Resources Inc. Chairman Releases Letter to Shareholders Regarding Australian Government's Proposed 'Super Tax'
Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today released a letter to Cliffs shareholders from Joseph Carrabba, the Company's president, chairman and CEO, regarding the Australian Federal Government's proposed 'Super Tax.'
A copy of the letter follows.
Dear Shareholders:
There has been extensive reporting and speculation around the proposed new 'Super Tax' announced by the Australian Federal Government earlier this month. While at the current time it remains only a proposal, with a long legislative process ahead, we believe, if implemented as proposed, this tax would seriously erode the competitiveness of one of Australia's most successful and economically vital industries. I thought it important to frame this issue from the perspective of Cliffs Natural Resources Inc.
The Australian natural resources industry competes in a vast market with many international entities and alternative geographies for investment capital. Over many years Cliffs has made significant Australian investments, especially in more remote parts of Western Australia, and has established a presence in this global steelmaking market through our Asia Pacific Iron Ore business segment. We directly employ approximately 150 salaried employees and over 500 employees indirectly through our contract mining relationships. In 2009, this segment generated U.S. $542 million, or approximately 23%, or our Company's total annual revenues of U.S. $2.3 billion.
All of this would be adversely impacted by an additional and unjustified tax burden. As written, the Government's proposal could result in the total effective tax burden on Cliffs' Australian profits increasing to approximately 60% from a current rate of approximately 39%. This would make the Australian resources industry the highest taxed in the world.
In addition, Cliffs recently completed a feasibility study into the expansion of annual capacity at the Company's primary production complex near Koolyanobbing, Western Australia. This investigation concluded that a possibility exists to increase annual production to approximately 11 million tonnes from a current rate of 8.5 million tonnes. The study demonstrated that there could be significant economic and associated social and community benefits related to such a project. As such, the Cliffs Natural Resources Board of Directors approved a capital proposal to proceed with detailed design and also to place orders for capital equipment that would be used in such a project, considering this equipment generally requires significant lead times.
It should be understood, however, that our Board provisionally approved this capital with the knowledge that cancellation could be executed if the proposed Australian 'Super Tax' legislation resulted in the project no longer being an efficient allocation of our shareholders' capital. This is one of many examples across the Australian mining industry where current and future investments would suffer if the proposed legislation becomes reality.
In defending this proposal, the Australian Federal Government is claiming that the mining industry is not paying its fair share of taxes. We, along with countless others in the industry, argue this is demonstrably not the case. This is not a tax on 'Super Profits'. It is a new tax added on to the current federal and state taxes, royalties and other taxes already paid by participants in the Australian mining industry. Our Australian-based iron ore operations have contributed A$625 million to tax revenues over the past ten years. During this time, the Company has also invested A$460 million of capital in Australia and created over 400 new jobs.
As many other Australian natural resources producers have communicated, Cliffs believes that any tax reform should not disadvantage the mining industry relative to other industries in Australia. Perhaps more importantly, it should not result in the Australian mining industry being at a competitive disadvantage to other resource-rich countries such as Brazil or Canada. Historically, the natural resources industry has been a major driver of prosperity in Australia. It would be extremely disappointing to see investment incentive destroyed and capital flow out of Australia. Simply put, the long-term, negative socio-economic consequences of adopting this new tax will far outweigh any near-term revenues.
Cliffs Natural Resources and its shareholders have a vital stake in the future of the Australian mining industry. We urge you help educate the political leaders there as to the real impact of this new, major and unwarranted tax imposition.
Sincerely,
Joseph Carrabba
Chairman, President and Chief Executive Officer
Cliffs Natural Resources Inc.
To be added to Cliffs Natural Resources' e-mail distribution list, please click on the link below:
http://www.cpg-llc.com/clearsite/clf/emailoptin.html.
ABOUT CLIFFS NATURAL RESOURCES INC.
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, we are the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of metallurgical coal. With core values of environmental and capital stewardship, our colleagues across the globe endeavor to provide all stakeholders operating and financial transparency as embodied in the Global Reporting Initiative (GRI) framework. Our Company is organized through three geographic business units:
The North American business unit is comprised of six iron ore mines owned or managed in Michigan, Minnesota and Canada and two coking coal mining complexes located in West Virginia and Alabama. The Asia Pacific business unit is comprised of two iron ore mining complexes in Western Australia and a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. The Latin America business unit includes a 30% interest in the Amapá Project, an iron ore project in the state of Amapá in Brazil.
Other projects under development include a biomass production plant in Michigan and Ring of Fire chromite properties in Ontario, Canada. Over recent years, Cliffs has been executing a strategy designed to achieve scale in the mining industry and focused on serving the world's largest and fastest growing steel markets.
News releases and other information on the Company are available on the Internet at:
http://www.cliffsnaturalresources.com or
http://www.cliffsnaturalresources.co...spx?b=1041&1=1.
Follow Cliffs on Twitter at: http://twitter.com/CliffsIR.

Cliffs Natural Resources Inc.
Steve Baisden, 216-694-5280
Director, Investor Relations and Corporate Communications
steve.baisden@cliffsnr.com
or
Jessica Moran, 216-694-6532
Sr. Investor Relations Analyst
jessica.moran@cliffsnr.com
or
Christine Dresch, 216-694-4052
Manager – Corporate Communications
christine.dresch@cliffsnr.com

__________________
Funny looking German Subaru

I agree with that also, but I don't see anything smart coming from Abbott. At least Rudd is doing something.

End of the day, I guess our whole political system is fail! Libs would never help Labor with a real solution. Everyone spends all day arguing.

__________________
[S]kid[S]

If you mean doing something as in helping destroy our economy and continue to spend us in into debt then yes Rudd is def doing something.

__________________
Funny looking German Subaru