But they can’t do that, we just jacked up their taxes! Australian mining boom starts to deflate like a bad soufflé. This despite new taxes imposed just two months ago to punish mining companies for their carbon footprint and to spread the wealth they’d been generating around to “the little fellow”.
Federal Treasurer Wayne Swan said over the weekend that the MRRT would raise some A$13.4-billion to 2015/16, with the revenue raised to underpin tax reforms for small businesses and boost superannuation, as well as fund critical infrastructure investment.
“The mining boom has delivered huge benefits for Australia, super-charging mining-related sectors in particular, but also assisting businesses and the community more broadly, including through cheaper imported goods.
“However, the government recognises that the mining boom has also contributed to challenges for some sectors, like increased competition for labour and the high Australian dollar. The MRRT will enable the government to tackle some of the challenges of a patchwork economy by securing a more appropriate share of the value of Australia’s nonrenewable resource wealth,” Swan said.
They say it can’t happen because that would be unpleasant!
The Thatcher Rule kicks in.
The municipality of Acharnes in northern Athens has decided to suspend all of its operations after running out of money. The municipal council met on Thursday night and voted to stop providing anything other than basic services because of its inability to pay employees’ wages and regular expenses.
(Bob Horton was unavailable for comment)
EPA’s new 15% ethanol mandate requires minimum purchase for four gallons of any kind of gas. Got a one gallon fuel tank for that lawnmower? Got a motorcycle? A snwblower? Gas generator? You’re out of luck, bub. And just as a bye-the-bye, any car engine manufactured before 2001 and any small engine manufactured ever, will be ruined by a 15% ethanol mix. Ethanol costs more energy to produce that it yields, does nothing to reduce air pollution and, by diverting corn to its manufacture, is driving up the cost of food around the globe.
When Washington wants to benefit one group of favored voters – in this case, Iowa corn growers, the rest of us suffer, every time. But if that lesson was ever going to have been learned it would have sunk in sixty years and many trillions of dollars ago. Instead, liberals just push for more. Funny, you’d almost think that they weren’t just stupid but had some agenda on their puny minds.
He might – I say might – stop the EPA from shutting down all energy sources except propeller beanies long enough for us to witness the failure of Europe, which is so much further along that path to destruction than we are. I say give Germany four more years, and then let’s reassess.
Germany is way ahead of us [Great Britain] on the very path our politicians want us to follow – and the problems it has encountered as a result are big news there. In fact, Germany is being horribly caught out by precisely the same delusion about renewable energy that our own politicians have fallen for. Like all enthusiasts for “free, clean, renewable electricity”, they overlook the fatal implications of the fact that wind speeds and sunlight constantly vary. They are taken in by the wind industry’s trick of vastly exaggerating the usefulness of wind farms by talking in terms of their “capacity”, hiding the fact that their actual output will waver between 100 per cent of capacity and zero. In Britain it averages around 25 per cent; in Germany it is lower, just 17 per cent.
The more a country depends on such sources of energy, the more there will arise – as Germany is discovering – two massive technical problems. One is that it becomes incredibly difficult to maintain a consistent supply of power to the grid, when that wildly fluctuating renewable output has to be balanced by input from conventional power stations. The other is that, to keep that back-up constantly available can require fossil-fuel power plants to run much of the time very inefficiently and expensively (incidentally chucking out so much more “carbon” than normal that it negates any supposed CO2 savings from the wind).
Both these problems have come home to roost in Germany in a big way….
Greenwich Time’s Bob Horton is horrified that some in town feel that the only way to stop government from spending is to deny them money.
I’m afraid it is a page right out of the tea party’s playbook: use the recession to radically change the contract with public workers, as if runaway public salaries, benefits and pensions were the cause of the financial crisis.
Can’t expect Bob to agree with either the concept or the solution, but it’s encouraging that tea party types are making their position clear enough for even a liberal to grasp. A good first step.