Australia Tells Mining "Shove It, Go Elsewhere"
By Charles Kubach, Mine-Engineer.Com
July 25, 2010
Yes, another "without a business clue" country, Australia, is going to enact a punitive business tax on mining companies to the tune of 40%, no doubt to spread the wealth, as all Socialists do. Several mining companies have said they would pull out of Australia if they do this.
I suppose in the Socialists dream world, spreading the wealth is the way to nirvana, utopia, or whatever they call heaven. In fact, it will cause many of their fellow countrymen to become dependent upon the government for feeding their families, since without good jobs, they will have no income, to pay income taxes to the government. Perhaps they plan to use the 40% tax to pay welfare, but with fewer mines, the 40% will dwindle to little or nothing in time.
Next, they will nationalize the mining industry, like all good socialists, knowing that only the government can operate anything well. With the government operating mines, the productivity will drop so low, that they will cost more to operate than they produce. That is the way it normally goes in such situations.
Socialists do not think that a company risking hundreds of millions or billions of dollars have a right to make a profit, or that there is need of a financial reward commensurate for taking such risks. But then, most government "Leaders" could not run any private company, except into bankruptcy. They also do not realize that there are plenty of reserves elsewhere in the world, and mining companies will go there, giving their citizens the benefit of a higher standard of living and gainful employment in the mining industry.
The state of Nevada has also considered something so stupid, to run out it's second largest employer, gold mining. Perhaps they think everyone should be working at the casinos. I do not believe that there are enough casinos for that, though.
So if Australia goes ahead with this usurious tax on mining, they should build some casinos, or they will be supporting a lot of their unemployed countrymen, on the dole. Socialism is a failure everywhere it has been tried, because the theory is devoid of valid ideas. It only has wishful thinking and pipe dreams for it's enslaved labor force, beholding to the government for everything, and the government will always collapse. Just like the USA's Socialist Experiment, led by the fearless Socialist, Barack Hussein Obama. His middle name should be "Failure" instead of "Hussein", then perhaps the American people would have a clue what is in store for them if they pursue his Socialism of the USA.
"The Sign of an intelligent person is not the realization of all they know,
but rather the realization of all they do not know."
Charles Kubach 1979
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