Tax - and ethics !

Many people see the forty percent tax on super profits imposed on the big mining companies as a punishment.

It is hard to nominate just what crime they are guilty of - but in the mind of some people any level of profit above the " national average " is simply a " rip off " - and should be controlled.

Which raises the question of the profits flowing from the activities of the big four Australian banks.

In the view of most people the banks have imposed fees and charges that are unreasonable - and by these methods have generated obscene profits at the expense of the less wealthy in the community.

If it is reasonable to impose an above average tax regime on big mining companies simply because they have the good fortune to be in a boom industry fuelled by world demand for mineral resources why wouldn't the same tax regime be extended to the banking industry - which has used it's monopoly position to inflate profits by ignoring ethics when it comes to fees and charges ?

It seems to be a matter of deciding whether tax is a punishment - or a necessity broadly and evenly distributed over all sections of industry !