Politics Benefits of mining in Australia?

[hamohawk1]

Shouldn't we receive more?

When the government proposed a mining tax it was contradicted by the mining industries that it will hurt the benefits of many australians via their super (well hey our super isn't exactly 'super' at the moment

this object only comes out of the earth once

how can tinkler, palmer and co make billions while we seemingly make very little

i am not asking them to each give us a new car or some other material object in return but surely the benefits have to be shared more evenly amongst the public

we are very lucky to have these resources, shouldnt the benefits be shared?

 

[The_Reaper]

Shouldn't we receive more?

When the government proposed a mining tax it was contradicted by the mining industries that it will hurt the benefits of many australians via their super (well hey our super isn't exactly 'super' at the moment

this object only comes out of the earth once

how can tinkler, palmer and co make billions while we seemingly make very little

i am not asking them to each give us a new car or some other material object in return but surely the benefits have to be shared more evenly amongst the public

we are very lucky to have these resources, shouldnt the benefits be shared?

What is your formula for a fair distribution?

 

[hamohawk1]

not to sure to be honest.

it depends if you view the benefits in monetry terms or infrastructure upgrades (that don't necessarily benefit the mining industry and aren't PR stunts)

if it was thought up well enough surely it could be of best benefit to us all?

 

[medusala]

how can tinkler, palmer and co make billions while we seemingly make very little

Calimero.

 

[The_Reaper]

not to sure to be honest.

it depends if you view the benefits in monetry terms or infrastructure upgrades (that don't necessarily benefit the mining industry and aren't PR stunts)

if it was thought up well enough surely it could be of best benefit to us all?

But the federal government did nothing to help build the infrastructure for the mining in the first place.

 

[rayven]

But the federal government did nothing to help build the infrastructure for the mining in the first place.

That is a lie.

 

[medusala]

That is a lie.

Where is the hatred towards auto and tcf?

 

[The_Reaper]

That is a lie.

Care to prove me wrong?

Looking at federal government funding for the Pilbara, there is some money for highways but not much else.

 

[Caesar]

Tinkler made 99% of his money speculating on mining rights, not digging the stuff out of the ground and selling it. A mining tax doesn't really target people like him directly.

 

[medusala]

Tinkler made 99% of his money speculating on mining rights, not digging the stuff out of the ground and selling it. A mining tax doesn't really target people like him directly.

It doesnt even target all mining.

 

[DivideandMultiply]

But the federal government did nothing to help build the infrastructure for the mining in the first place.

No but Western Australian taxpayers did.

 

[Caesar]

No but Western Australian taxpayers did.

Harvest Terrace is almost as bad as Capital Hill. Ask Barnett why the Nats had to blackmail him into Royalties for Regions.

All governments of all political persuasions sandbag populous areas with tax money they should be reinvesting in income-generating infrastructure.

 

[The_Reaper]

No but Western Australian taxpayers did.

I'm all for WA getting more money

But that's why the state government removed the subsidy on the royalties for lower grade ore.

 

[rayven]

Care to prove me wrong?

Looking at federal government funding for the Pilbara, there is some money for highways but not much else.

So your saying all the utilities,all the highways, all the ports, all the airports, all the roads,all the schools (in mining area's and the ones that educate the geoligists and such) are funded by mining companies?
Your saying the benifites recieved by students in mining related course/study/degree's are all mining company funded?

Your saying that the destruction of the cultures who own this land was done all by the mining companies? Your saying that the gaols that keep those indegenous in and not rallying against what goes on is all funded by the mining companies?

The courts where everyday an indigenous group is trying to get somewhere is all funded by mining companies?

Seriously?

lol.

 

[The_Reaper]

So your saying all the utilities,all the highways, all the ports, all the airports, all the roads,all the schools (in mining area's and the ones that educate the geoligists and such) are funded by mining companies?
Your saying the benifites recieved by students in mining related course/study/degree's are all mining company funded?

Your saying that the destruction of the cultures who own this land was done all by the mining companies? Your saying that the gaols that keep those indegenous in and not rallying against what goes on is all funded by the mining companies?

The courts where everyday an indigenous group is trying to get somewhere is all funded by mining companies?

Seriously?

lol.

State government had a lot to do with it as well.

 

[rayven]

State government had a lot to do with it as well.

Yes, but the coin the feds would take from the super profits tax would be redistrbuted in away easy on the balance sheets of the state coffers....It's not as if the coin the feds take would go offshore to investors , unlike BHP and RIO.

With the occupy wall street revolution it is now apparant that this labour goveremnt was VISIONARY!

 

[The_Reaper]

Yes, but the coin the feds would take from the super profits tax would be redistrbuted in away easyon the balance sheets of the state coffers....It's not as if the coin the feds take would go offshore to investors , unlike BHP and RIO.

With the occupy wall street revolution it is nowapparant that this labour goveremnt was VISIONARY!

But that remains the point, the Federal Government did not help set up any of the infrastucture in WA for the mining. Though it's possible to argue that they did provide some funding to universities which indirectly helped out- but the government should have being doing that anyway.

Looks to me that the Federal government wanted some quick cash so that they could keep their debt free by 2013 promise.

Also you are aware that mining company shares offer very small dividends? This is because a lot of their money is reinvested- into building the infrastucture etc.

 

[Caesar]

Yes, but the coin the feds would take from the super profits tax would be redistrbuted in away easy on the balance sheets of the state coffers....It's not as if the coin the feds take would go offshore to investors , unlike BHP and RIO.

With the occupy wall street revolution it is now apparant that this labour goveremnt was VISIONARY!

Not all of BHP/Rio's shareholders are overseas, and not all of their profits are paid out in dividends.

Proponents of the super profits tax make out that every dollar profit made by the big miners from mining operations disappears off overseas. In reality, the vast majority of it is reinvested in further capital projects, and a decent whack of what's left goes to Australian shareholders. In fact, for a multinational like Billiton it's not at all uncommon for their foreign operations to be cross-subsidising capital development over here (because of the growth potential).

Yes, at the end of the day a substantial return ultimately goes overseas. But you don't get something for nothing. The general public vastly undervalues the worth to the Australian economy of major capital investment and the assumption of risk.

There are way too many people out there who think mining is just about carting off a bunch of valuable minerals, and it's only through the good grace of the Australian government that the private sector is allowed to do it at all.

 

[Herne Hill Hammer]

Calimero.

lmao. That's a name I haven't heard in a long time. At school it was used to describe people with no mates.

 

[Max zero]

So your saying all the utilities,all the highways, all the ports, all the airports, all the roads,all the schools (in mining area's and the ones that educate the geoligists and such) are funded by mining companies?
Your saying the benifites recieved by students in mining related course/study/degree's are all mining company funded?

Your saying that the destruction of the cultures who own this land was done all by the mining companies? Your saying that the gaols that keep those indegenous in and not rallying against what goes on is all funded by the mining companies?

The courts where everyday an indigenous group is trying to get somewhere is all funded by mining companies?

Seriously?

lol.

All business benefits from that infrastructure. Mining companies contribute through tax like every other business.

For the non renewable nature of their product they pay royalties.

Nothing to stop the Australiam government from starting up their own mining ventures.

 

[Grin]

All business benefits from that infrastructure.

That's odd.
I could have sworn I heard some manufacturing exporters complaining about the high Australian dollar.

The benefits of mining are distributed extremely unequally.
Although it is true that not all of it goes overseas.
Gina Rinehart, for example, made about 6 billion last year.
Not because she invented anything, or created new or innovative ways of increasing productivity. But purely because she inherited rights to mine our collective minerals, and the value of those minerals increased due to absolutely nothing that she did or innovated.

She's using some of that money to fund divisive and misleading attacks on science and scientists to protect a small proportion of her wealth. Following in the footsteps of the James Hardy campaign against the dangers of asbestos.

 

[The_Reaper]

That's odd.
I could have sworn I heard some manufacturing exporters complaining about the high Australian dollar.

The benefits of mining are distributed extremely unequally.
Although it is true that not all of it goes overseas.
Gina Rinehart, for example, made about 6 billion last year.
Not because she invented anything, or created new or innovative ways of increasing productivity. But purely because she inherited rights to mine our collective minerals, and the value of those minerals increased due to absolutely nothing that she did or innovated.

She's using some of that money to fund divisive and misleading attacks on science and scientists to protect a tiny proportion of her wealth. Following in the footsteps of the James Hardy campaign against the dangers of asbestos.

Max Zero as talking about schools, hospitals, highways etc.

 

[checkraiseulite]

People should look past the raw dollar profit figures and look instead at profit per dollar of investment, remembering that these ventures are highly capital intensive and that this investment (and the associated bearing of risk) comes from the private sector.

Nothing is stopping you from investing in these companies if you see them as veritable profit machines.

The job of these companies is to make money for shareholders within the regulatory framework (including paying for the rights to use the land, various existing taxes and the payment of royalties). In the process they employ people and send a huge amount of business to providers in other industries (engineering firms, law firms, banks, accounting firms etc).

Seems everyone wants something for nothing.

 

[Gen Y]

The problem with having a less than adequate super-profits mining tax is that the growth of mining is leading to a strong australian dollar which is killing off all our other export markets. Thus australia is becoming reliant on exploiting a finite set of resources, and not even getting a fair share of the profits from it, while every australian not involved with mining suffers.

 

[Max zero]

The problem with having a less than adequate super-profits mining tax is that the growth of mining is leading to a strong australian dollar which is killing off all our other export markets. Thus australia is becoming reliant on exploiting a finite set of resources, and not even getting a fair share of the profits from it, while every australian not involved with mining suffers.

Our manufacturing industries were dying even before the mining boom. Our auto industry hasn't been internationally competitive since it started 70 odd years ago.