Archive for 'Minerals Resource Rent Tax'
The process of change from Henry to the RSPT to the MRRT can best be understood, not just in the context of bad design, but, building on the work of Bramble and Kuhn, in the context of the Australian Labor Party as a capitalist workers’ party. I argue that it is this tension in the ALP, the shift in its internal balance further towards capital and the lack of class struggle that has seen Labor preside over what the father of rent tax in Australia, Ross Garnaut, describes as a ‘problematic’ tax.
The paper argues that the poor health of the MRRT is a consequence of the nature of the Labor Party as a capitalist workers’ party, the shifts in power and influence within its material constitution and in essence the ascendency of capital in the capitalist workers’ party.
The Australian Labor Party is a capitalist workers’ party. It is this tension in the ALP, the shift in its internal balance further towards capital and the lack of class struggle that has seen Labor preside over a flawed tax,
This is a link to my submission – The Minerals Resource Rent Tax: the death rattle of social democracy in Australia? – to the Senate Standing Committee on Economics and its investigation into the Development and Operation of the Minerals Resource Rent Tax.
The Greens’ push for reforms imagines that in a time of global economic crisis, a crisis of low profit rates arising out of the way production is organised under capitalism, capital will willingly divert some of the surplus value we workers create back to us or the poor. That is fairy land stuff.
The money is there. So why not start all over again? I have a suggestion. How about a 40% super profits tax applying to all resources? Oh…The ghost of Kevin Rudd ensures that won’t happen.
And while we are at it, why not a super profits tax on all super profits, not just those in the resource sector. The Big 4 banks come to mind.
I am quoted in today’s Australian. Among other things: ‘Former senior tax official John Passant concluded yesterday that the government’s need to suppress the quarterly revenue figure indicated that nothing was being collected.’ Find out why. Here is the link to the article ‘Advice fuels MRRT doubts’ by David Crowe.
Yours truly in the Canberra Law Review last year. Since posting the link it has been put behind a password. WTF is that about? So here is a link to the whole edition. My article starts at page 159. http://www.canberra.edu.au/faculties/busgovlaw/attachments/pdf/CLR-2011-Vol.-10-2-Symposium-edition.pdf
This is my article in Thursday’s The Conversation on the Minerals Resource Rent Tax and superannuation. http://theconversation.edu.au/weve-gained-a-mining-tax-but-lost-a-rare-opportunity-4442
Maybe it is time to squeeze the mining companies until their pips squeak.