The Miners' tax
The following is possibly the best overview I've seen so far.
A commenter on Bolt's blog:
[quote]Am I missing something here?
In the first instance, how can Rudd build a Budget on a hypothetical amount of tax to be raised by the mining tax? The tax amount received would surely be open to wild fluctuations which would imperil all projects which are reliant on that money.
In the second instance, how can Rudd then make an about face and claim to have saved money in the Budget by not going ahead with the hypothetical provision of money to failed ventures? This hypothetically saved amount would be dependant on how many companies would hypothetically have to be bailed out. This is so far from ever being able to be assessed that it is ludicrous to even come up with any sort of figure.
Rudd is just ONE HUGE HYPOTHETICAL!
A budget built like a house of cards which has been designed by a government which is clearly incompetent!
Welcome to the reality that is Labor.[/quote]
Now of course it appears another backflip is on the way as a result of the enormous backlash, plus the uncertainty that is having drastic effects on the markets.