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2010-06-29

Verrender's mischief-making

Comments on Ian Verrender “Mischief-making by big miners is on the nose”, 29/06/2010, http://www.smh.com.au/business/mischiefmaking-by-big-miners-is-on-the-nose-20100628-zf6h.html?posted=sucessful
While I share your idea of modify the proposed RSPT to something similar to the PRRT possibly with a lower tax rate. However, that is where our agreement ends.

Your argument that "For it is the existing mines, particularly those in operation for decades, that actually earn the super profits" seems to be a lot of nonsense. If you had just become a shareholder of those companies the day before the announcement of the RSPT, were you really making super profits by any of your imagination?

Shareholders of listed public companies don't have super profits due to share market arbitrage.

It seems that you simply do not understand the reality, do you?

For the rest of your argument, you can judge for yourself.

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