"I know this Aussie Mining Profits Tax makes everyone outside of Australia uncomfortable. But think what a mining boom is doing to our local economy. We have investment spending going from 1 to 2% of GDP to 6 to 7% of GDP. There is a huge jobs skills shortage low unemployment a Central Bank (RBA) trying to dampen the economy to accommodate this investment boom.

"Attached is a note on Leighton Holdings (no I don't own stock in the company) who are a significant mining services supplier. The investment numbers are huge.

"I don't like paying taxes. However monetary policy cannot be the only method of slowing local economy to accommodate a mining boom fast getting out of control.

"Its very uncomfortable living in a two speed economy. For the average Australian that has to contend with high mortgage payments at the same time [without?] receiving any of the rewards the mining boom has delivered [to?] a small part of the population. At times like this social equity is a difficult balance to achieve."

David Fuller's view Thank you for your thoughts on this subject but social equity is difficult to achieve unless we make the middleclass poorer, as we see in countries with socialist governments, or everyone but the political elite and their cronies poorer in authoritarian kleptocracies.

Surely Australia is better off with the mining boom. Otherwise you could be experiencing the serial unemployment and ghettoisation which we currently see across many western countries.

"You don't make the poor richer by making the rich poorer", as Winston Churchill said.