Courtesy of Ghost Who Votes on Twitter, Newspoll has Labor recovering to a 51-49 lead on two-party preferred (up from 50-50 a fortnight ago), but back down two points to their 35 per cent nadir on the primary vote with the Coalition also down two points to 41 per cent. The big show is the Greens – up four to 16 per cent. More to follow.
UPDATE: Full tables from Mumble. Kevin Rudd’s personal ratings have reached a new low, with approval down three points to 36 per cent and disapproval up three to 54 per cent. However, the news for Tony Abbott is even worse: approval down five to 37 per cent and disapproval up four to 49 per cent. All this cancels each other out on preferred prime minister, with Rudd’s lead steady on 49-33.
Also out today was the weekly Essential Research, which had Labor’s lead down slightly from 52-48 to 51-49. Both leaders’ approval ratings have plunged – Rudd’s net rating is negative for the first time. Good news for the government though with 58 per cent rating a returning of “laws similar to WorkChoices” under Tony Abbott as “likely”. Forty-five per cent express themselves “concerned”, and 43 per cent say their views are closer to the unions than to Tony Abbott against 24 per cent for the other way round. Forty-six per cent say ending unfair dismissal protections and restoring individual contracts would make them less likely to vote for the Coalition against 14 per cent more likely.
dogma
There are oodles of economists who say it will affect the mining industry. People here just cherry-pick the articles they like.
Great CFMEU ad Shows.
I bought Zhivago from Amazon, BTW. Thanks for the tip. Looks great in Blu-Ray.
[Yep right. If that was true, you could apply the same logic to any other industry and tax the most profitable ones and remove tax from the marginal operations and rake in billions of extra tax dollars while doing no harm.
That’s magic pudding economics.]
No it’s not. It’s a progressive tax system.
pancho
So why isn’t it being done on all other industries then?
[There are oodles of economists who say it will affect the mining industry. People here just cherry-pick the articles they like.]
Of course it will “effect the mining industry”. Where is your evidence that it will over all be bad for the industry?
There are oodles of economists who say it will affect the mining industry. People here just cherry-pick the articles they like.
Yes it will affect the mining industry – that is clear. Most independant economists say it is a positivie fundamental reform. Those that are on the payroll of the resources industry cheery pick elements to suit their arguments. The fact Ross Garnaut who is Chairman of Gold company supports the tax and is architect of the PRRT is good evidence a profits based tax is sound.
Dio
FACEPALM
Cos they aint Mining stuff
Yi Yi YI
[So why isn’t it being done on all other industries then?]
Other industries aren’t like mining, they don’t exploit an asset owned by the public in order to make a profit.
If the RSPT does not get up then every taxpayer is going to be asked to pay in the future to support the low income earners in their retirement. Without increased super they will simply not have enough money to live. So choice as I see it is mining companies pay now or I’ll have to pay in the future.
Heard a guy from the CFMEU saying they are going to support the RSPT, especially in the Hunter Coalfields.
[So why isn’t it being done on all other industries then?]
Because there are circumstances with commodities that are not present in other industries. There have been several price upgrades noted today. There is extensive economic modelling (including by the treasury) suggesting a decades long boom with exponentially increasing returns. Basically, over the last decade and the coming several, the game has changed in this industry. It will not be killed. It is tethered geographically, and there are still astronomical profits to be made.
did any one Kohler last night on the end of the news charts and all
How can the abc do that, we pay his wages through our taxes.
If they continue to have him there he should say what his back ground is
people may even think he works for the abc.
[I bought Zhivago from Amazon, BTW. Thanks for the tip. Looks great in Blu-Ray.]
Enjoy!
Don’t buy the new Spartacus Blu-ray, it was made from a 10 year old 1080 interlaced HD master. It looks terrible. Robert A. Harris, who worked on the film’s restoration, says that Universal needs to do a new transfer of the 65mm restoration negative to make the film look right:
http://www.hometheaterforum.com/forum/thread/300552/a-few-words-about-spartacus-in-blu-ray
SO
[Other industries aren’t like mining, they don’t exploit an asset owned by the public in order to make a profit.]
Farmers use water from the MDB to make a profit and the MDB is owned by the public.
Apart from the financial and organisational sense that the tax makes (in the industry and across Australian businesses as a whole, who will receive a tax cut as collateral), it will also increase productivity. At the moment you have a situation where a duopoly purchases leases in order to stifle competition. If others are given a leg up at this stage of production, there will be more mines and more jobs.
[If the RSPT does not get up then every taxpayer is going to be asked to pay in the future to support the low income earners in their retirement. ]
Very good point. The Liberal opposition to the resource rent tax means higher company and income taxes.
Labor needs to press this point every day, people must know if they don’t support the resource rent tax, then they will effectively be asking for higher personal taxes.
AFR today suggesting the Coal Seam Gas companies should receive the same treatment as the Offshore gas fields which are taxed under PRRT. there seems some merit in that argument. Santos seem keen to accept a PRRT on their project. This would be quick win by the govt to get this sector on side and projected $30bn of projects. Shell/Arrow takeover is likely to go ahead. so accept PRRT on on-shore gas transactions and you win a key sector to the resource tax approach and fracture the mining and gas companies as a lobby group.
[3065 TheTruthHurts]
you know i think i found you on another site today with a differnent name
i wasnt commenting just reading gosh it sounded like you
[Farmers use water from the MDB to make a profit and the MDB is owned by the public.]
And they have to buy those water entitlements. And in bad years when there isn’t enough water, then they may not even be allowed to use their entitlement.
Everyone agrees that mining royalties, i.e. charging money based on amount of dirt dug, is a dumb way to tax mining.
entre nou
Not if we get rid of this government and stop throwing money out of helicopters. This government makes Whitlam’s government look fiscally responsible. And that is some feat.
[ have taken up My Says challenge and have put my money where my convictions are and have donated $30 to the mining facts site.
http://www.mining-tax.com.au/
We need to counter the well organized Liberabble grassroots campaigne]
thanks dee any more takers.
Diog
[There are oodles of economists who say it will affect the mining industry. People here just cherry-pick the articles they like.]
Diog the second article I link to is Paul Fritters who wrote that article for Core Economics. He is hardly a pro Labor/tax economist. I suggest you might read the article and maybe do a bit of research on the author and if you don;t agree that’s fine, just don’t say you haven’t been offered some information.
[Not if we get rid of this government and stop throwing money out of helicopters.]
How many billions did Howard waste on Helicopters. 😛
Jumping forward a few steps (and acknowledging that the Minerals Council asked for a progressive profits tax) I see the current behaviour of the miners as tactical. They know ultimately that they will pay more tax and would know that they are going to “lose” this fight,and so they are now positioning themselves for future ones. After this tax goes through, they will be able to argue that they have already been slugged a new charge when debate on an ETS begins again. And if they can dilute or delay the profits tax while they are at it, that will be an extra for them.
“”Not if we get rid of this government and stop throwing money out of helicopters. This government makes Whitlam’s government look fiscally responsible. And that is some feat.””
Good to see you are back making your same foolish comments. Possibly you missed the recent national accounts released on Wednesday – 0.5% GDP growth – why Rudd Govt stimulus. Govt stimulus saved jobs and this country from recession. 5% unemployment vs 10% in Europe/US. Under the Liberal party this country would be in recession and mass unemployment guaranteed. Please back up your arguments with facts not vitriol.
[Farmers use water from the MDB to make a profit and the MDB is owned by the public.]
[And they have to buy those water entitlements. And in bad years when there isn’t enough water, then they may not even be allowed to use their entitlement.]
Correct. The same with carbonated soft drink and mineral water manufacturers.
They have to buy their entitlements and pay a fair price for their public owned assets.
Why shouldn’y miners have to pay a fair price for exploiting OUR assets?
Diog
[So why isn’t it being done on all other industries then?]
Because Australian citizens own the resources that this particular industry wants to make money on. Just in April their earnings have a 32 per cent jump in earnings from iron ore and a 35 per cent jump in earnings from coal.
[Not if we get rid of this government and stop throwing money out of helicopters.]
Don’t worry Steve, pretty sure that policy didn’t get off the ground.
[This government makes Whitlam’s government look fiscally responsible.]
Here’s some starters for you bud. On any measure, you lose that argument, from the black and white figures, to the fact that the claim makes you look like a raving moron.
Average wage, Nov 2007: $875.50
Average wage, Feb 2010: $969.40
Standard variable home loan rate, Nov 2007: 8.55%
Standard variable home loan rate, Mar 2010: 6.91%
Australia’s peak unemployment through GFC – 5.8% (as opposed to double digits in other OECDs)
Australia’s peak debt through GFC – about 6% of GDP, back in surplus by 2013.
one thing i thought of perhaps i read it.
Does any one think that Mr. Rudd or the gov would do anything to harm Australia,
they want to bring in more Taxes for us, They do not want in any way to hurt the bottom line of the miners. In fact it has been pointed out that small miners will benefit.
So i would just answer the question similar to the above.
But the liberals do not care about the bottom line of the country and growing the
income of the people and retirees and small business.
they proably would like to see us all penniless on retirement. That way we would have to rely on them for pensions etc when you are able to look after yourself re good supper that has to be good for the country and ones inderpendance
only business
dogma
I think the miners should pay the RSPT. I think they are undertaxed and that this is the best and fairest way to get them to pay more. I just don’t think that there won’t be an overall loss to the mining industry from it.
But I will read your article a bit later (I’m too busy polling all the patients here what they think of the RSPT)…
[only business] please delete left over from another sentance
Diogenes
Actually, you have raised a good point. Farmers pay for their water allocations.
However the mining industry does not.
Diog
[But I will read your article a bit later (I’m too busy polling all the patients here what they think of the RSPT)…]
Gee sounds like um fun .. I think
[I will read your article a bit later (I’m too busy polling all the patients here what they think of the RSPT)…]
make sure you tell them loud and clear its for the supperannuation for them and their grandchildren
When the minerals have gone there is NO more income for the country.
that makes a few people listen i can tell you
Simple facts on the economic position of Aust seem to completely floor the liberals arguments – it really is that simple. now there is a series of ads for the election campaign.
[I will read your article a bit later (I’m too busy polling all the patients here what they think of the RSPT)…]
the sort of doctor i would like
“I just don’t think that there won’t be an overall loss to the mining industry from it.”
Yes there will be – a loss of profits to the owners of the resource all Australians
[This government makes Whitlam’s government look fiscally responsible. And that is some feat.]
Of course this statement is hilarious because the Howard government spent more as a proportion of GDP than the Whitlam government ever did, see here:
http://www.budget.gov.au/2010-11/content/bp1/html/bp1_bst10-04.htm
And of course, the Whitlam government was supposedly so bad, yet Liberal hacks such as yourself never mention that Fraser kept 95% of Whitlam’s reforms.
G’day ladies and gents!
A new Morgan poll out later today? 😉
Dio 3114
The main reason for having the RSPT and no similar tax on other industries is that the commodity they mine is a non-renewable resource. Once it is mined, used or exported that is it. No further income stream, whereas other industries that is not the case.
Love to have a tax on banks (only in the sense that the banks are an oligopolistic industry protected by high barriers to entry, which reinofrce their ‘super profits)but not sure how they could be taxed. In addition, they would find other ways to pass it on and threaten to get rid of staff (which they do anyway). If they did introduce a reasonable tax bankers, you can bet your life that Tony and the gang would fight to their last breath to not introduce one.
[I just don’t think that there won’t be an overall loss to the mining industry from it. ]
Where is your evidence to back up this statement?
[A new Morgan poll out later today? ]
Yep at:
http://www.roymorgan.com/news/polls/2010/4506/
Oh dear, another NSW government minister, Grahame West, has announced his immediate resignation from the cabinet – it’s very much like the last days of the Roman Empire. 😆
[Farmers pay for their water allocations. However the mining industry does not.]
Don’t the miners pay for their water?
The miners royalties are similar to the farmer’s water allocations in a few ways.
[ I will read your article a bit later (I’m too busy polling all the patients here what they think of the RSPT)…
the sort of doctor i would like]
Surprisingly I’m getting a few blank looks. So far it’s only been people who actually work in the mines who have been upset about it. I’m gonna have to send the numbers to Possum for analysis 😉
[I just don’t think that there won’t be an overall loss to the mining industry from it.]
Double negative? Clumsy Diogenes.
All this arguing over the tax is largely academic because it’s not going to be passed before 1 July 2011 at the earliest. I suspect the matter will be exhausted before then.
[So far it’s only been people who actually work in the mines who have been upset about it. ]
Yeah my anecdotal evidence matches this. The tax is poison to mining workers. Not the best thing to do electorally to threaten peoples’ jobs.
[The miners royalties are similar to the farmer’s water allocations in a few ways.]
Royalties are a stupid way to tax mining companies, you should know that.
Dio
[Surprisingly I’m getting a few blank looks]
You’re getting blank looks in Broken Hill!!!!
Oh wow. If that is the case, how disengaged must be people in metropolitan areas??
No wonder Abbott moved off to safer ground of batts, boats, BER
[All this arguing over the tax is largely academic because it’s not going to be passed before 1 July 2011 at the earliest. I suspect the matter will be exhausted before then.]
If Labor wins the election they will have a mandate to pass it.
The miners are selling stuff that DOES NOT belong to them,it belongs to US, the other industries are selling stuff that DOES belong THEM . The RSPT is an elegant way for us to get our fair share of the profits for OUR stuff that they are selling.One would need to be truly ignorant or be deliberately blind to fail to notice the difference mining and other industries.
Abbott says that sort rubbish all the time but it is only meant for the low information voters, its amazing how other more discriminate people get sucked in.