Quick reminder: Coalition supporters are seriously telling us – and demanding that we believe and vote accordingly – that our economy would be better off being managed by this man.
ALSO: Some handy quotes for the Government of the Libs demanding pretty much exactly the “set top box program” they’ve now implemented and the Libs suddenly think is a bad idea.
The government didn’t “get us out of the GFC”. The mining industry did. The Green-Labor coalition is now intent on making sure that doesn’t happen again with its mining tax. In fact with the carbon dioxide tax they will utterly fuck the economy.
In response to the GFC the ALP pissed billions down the toilet which is why we now have a $50bn deficit. Sadly I don’t think the LibNats would do that much better.
When all the right-wing screamers were yelling “reduce spending, cut taxes, and bail out the financial wizards who caused the mess” as a solution to the GFC, progressive governments pumped in money instead and kept their broader economies afloat during the tough times. There’s more going on in Australia’s economy than mining, you know.
For every failed insulation scheme, there’s been road construction projects or school hall upgrades that have put people back to work and left long-lasting infrastructure on the landscape that will serve the country well for decades. That money wasn’t “pissed down the toilet”.
How much of the miner’s profits are going back into the community for long-lasting projects? Not very much – it’s all disappearing into the stock market and executives pockets, never to be seen again. They are leeches, and leeches should be taxed to reduce the negative effects of their leeching. Eventually the mining boom will end – then what?
Unique: “How much of the miner’s profits are going back into the community for long-lasting projects?”
Over 40% through the tax system.
The real leeches are the unions, the recipients of government largesse and the Labor-mate contractors who robbed the country blind on half-baked government schemes. Most of the stimulus spend came after the GFC passed and it was clear Australia was in good shape. The GFC was an excuse for profligacy and the eager leftist politicans who pissed this money away are worse than leeches.
SB: So that would be 40% of sweet f…. all would it not? Companies such as BHP have armies of people at work to minimilise their taxable profit.
Gordicans, BHP pays over $6bn in Australian tax. Obviously to spendthrift lefties that is “sweet f…. all” but then, that lot will never be satisfied until they’ve totally raped the economy and driven us all back to the stone age.
“The government didn’t “get us out of the GFC”. The mining industry did.” – SB
Trust SB to be so wrong he’s not even wrong.
Which sector in Australia shed jobs at the highest rate at the peak of the GFC? Yes, it was our saviours, the mining companies.
Thankfully, while the mining companies were tossing their employees to the wolves, the govt. did what govt’s are meant to do – act in the common interest. Using the govt’s ability to borrow in light of future revenue they were able to stimulate the economy enough to save the jobs of hundereds of thousands of people.
Had the govt acted as the miners did, we might well have had a little US-style recession.
While the conservatives continue to display such economic incompetence (subservient to some truly dim-witted ideological straight-jackets) they shouldn’t be allowed anywhere near the levers of the economy, until we are well clear of the whole GFC mess.
“obviously to spendthrift lefties that is “sweet f…. all” ”
$6b isn’t sweet FA, they can pay more, they say they can’t but they would say that! (only an idiot, sycophant or someone with vested interests would side with them ie, a boltard, a trollumnist or a mining magnate)
They paid $6b tax because they made a shit load of money mining our FINITE resources..
They also made a 71% increase on their first half net profit. Bring on the resource tax, let the miners winge and cry and lie, if they don’t want our resources someone else will. They can piss off to Africa, though I’m sure Australia is a more stable place to do business with a skilled workforce.
Or, they can piss off to Canada and when they mine it all they’ll be back. What is it with conservatives, their desire to mine finite resources as quickly as possible and let the multi nationals have the LION’s share? Why do they hate Australia so much?
SB, when was the last time BHP paid 40% tax?
I think this is D17 on the right-wing talking points jukebox: “OMG the socialist leftards are coming to take all the mining industry’s money and piss it up against the wall!!!1!11!”
Don’t waste your time arguing with ideologues.
According to the last annual report (2010) BHP made $19,572m in profit* (whatever constitutes frofit) and paid $6,112m in tax, which is about 31% tax
Of course who knows what constututes profit to the bean counters in Neathouse Place/ Lonsdale St.
*and do not have the time to see if profit is after sundry taxes (ie resource rent tax)
Its a not insubstantial amount of tax, especially as that figure probably doesn’t include various taxes paid out of mining related revenue, like the income tax of miners.
Still, they are our resources, and given the huge amounts of wealth being generated by their sale its not unreasonable for us to want a bigger share of the profits.
Mining accounts for about 6% of Australia’s GDP.
Whilst we appreciate their contribution, just like I appreciate when my 12 year old daughter does the washing up, at the end of the day, they’re small beer.
They, and their defenders, should gain a sense of perspective and realise that we, the people of Australia, will decide what resources are exploited and the manner in which they are exploited.
We set the price of doing business, not some fat arsed mining prick/cunt.
Mr Bottom wrote:
“The GFC was an excuse for profligacy and the eager leftist politicans who pissed this money away are worse than leeches.”
My daughter has just started prep at the local state school. These “eager leftist politicians” built the beautiful new classroom in which she is now learning. Oh how wasteful of them! Oh how bad we feel that our taxes were wasted in this way!
We all know that only exclusive private schools deserve new buildings…
SB, when was the last time BHP paid 40% tax?
You want The Quiet Achiever, The Great Australian, to pay TAXES!!!!!!!????????
You’ll be demanding that they compensate all those Aborigines for digging up their backyards next!
Gordicans: “when was the last time BHP paid 40% tax?”
Why 40%? Company tax rate is 30%. You can trawl through multiple years of their accounts if you are really that interested in working out percentages paid in the various years.
‘Gadj most of the spending came after the economy was on the way back up. Plenty of countries stimulated themselves stupid but things only got worse. Look at the abomination that is the Obamanation.
RobJ: “Bring on the resource tax, let the miners winge and cry and lie, if they don’t want our resources someone else will. They can piss off to Africa, “
Strutting crack-headed arrogance as usual. The bottom line is that miners take risks in the hope of reward. They share the reward with the asset owners through taxes. The goal for the asset owner is to maximise the return – to pluck the goose but not so as to make it stop laying its eggs. There never was a leftist, who seeing someone else succeed, did not feel the swelling of jealous rage and a surge of unnatural lust for the proceeds of that success. Leftism is the place cupidity meets stupidity.
Marek: “we, the people of Australia, will decide what resources are exploited and the manner in which they are exploited.”
It’s actually a haggle. We won’t get a return without investment. You can decide till your blue in the face, but if the other party doesn’t want to invest you end up with nothing.
Brendan: “My daughter has just started prep at the local state school. These “eager leftist politicians” built the beautiful new classroom in which she is now learning.”
My daughter goes to a private school. Her school built 2 new classrooms for the same amount of money as your daughter’s school paid for one. By virtue of the corrupt incompetent nature of public administration Gillard ensured that private schools get twice the benefit from the BER.
Lykurgus: “You’ll be demanding that they compensate all those Aborigines for digging up their backyards next!”
No need, chum. Racist legislation already privileges Aborigines in negotiating mineral exploration and mining rights.
So is Gillard solely to blame for the fact that some sectors of the education industry were able to make better use of the BER funds than others?
Jordan, Gillard is responsible for wasting billions of public funds. She is in a position of trust when it comes disbursing taxpayers money. Gilalrd, and her ALP cronies, betrayed that trust by allowing poor government schools to be short-changed by greedy contractors and incompetent administrators. The buck has got to stop somewhere.
“Strutting crack-headed arrogance as usual.
I’ve never smoked crack in my life, why would you make such an implication? Trying to discredit me, opening up your response with yet ANOTHER ad-hominem attack, do you never learn?
You’re the guy who claimed it was the mining industry who pulled us out of the GFC – LOL – As nawagadj pointed out, how did the mining industry handle the GFC? They laid people off! We’ve all noticed that you’ve conveniently ignored that point! But hey SB, we all know you’re predisposed to believing in nonsense.
“There never was a leftist, who seeing someone else succeed, did not feel the swelling of jealous rage and a surge of unnatural lust for the proceeds of that success. Leftism is the place cupidity meets stupidity.”
More abuse and lies. It doesn’t help your argument, which you lost with your first post 😉
“Gordicans: “when was the last time BHP paid 40% tax?”
Why 40%? Company tax rate is 30%.”
Because you made the ludicrous claim that mining companies paid 40% of their profits in tax.
Over 40% through the tax system.”
SB, you change your facts to suite your argument. One minute you are saying mining companies
How many billions were wasted, SB?
Name a figure for me.
True, if this were Colombia.
But this is Australia.
We’re stable, we have a skilled workforce, our minerals are dead easy to extract and we’re very close to the two biggest markets in the world.
We can name our price and the miners will pay it.
Why the fuck do you think that everyman and his dog wants to become an Australian miner?
I thought you knew this. Are you feigning ignorance to score political points?