The Mining Tax: A Good News for Australia’s Health
Prof. Gavin Mooney, a certified health economist of the University of Sydney says that this mining tax plan can be good news and another positive step for Australia’s health. On his write up, he stated that the proposed new tax super profits have clear health effects. It has given both positive and negative result to big miners.
On the other hand, there are several aspects of the tax that remains to be sorted. Of course, this would include the increasing rate of people who will need cash in the future. Some may opt to apply for quick cash loans such as cash advance loan, cash advance payday loan, and payday cash advance and other options that can provide instant cash Australia.
It is also understand that it is those rich people or let’s say those on above average income who primarily be hit by this tax.
There are rumors about some redistribution from shareholders or above compensated individuals. Some noises out that these will go to pensioners who overall are not the richest group in town. Public hospitals has been said to benefit and of course this also goes to poor people who understandably use public hospitals during emergency. Ken Henry suggested that Aboriginal people should benefit as well.
The news is all about the reduction of tax income inequalities in Australia. It is like they are buying the idea from health gurus that inequality is bad for our health so a fairer tax profit has been done. In economic theory, the excess profits from tax is relevant in any industry where there big profits and barriers to entry. It is called a straight textbook economics and not socialism or communism.
So this excess profits tax on mining might be a start to equality through taxation and an act to a more egalitarian society.
