4CORNERS CHASES ANOTHER GILLARD KNEEJERK MOMENT
... while Adani is happy to screw either Annastacia or Pauline
Four-time Walkley Award winning political commentator and Churchill Fellow, has returned to the fray over concern that the integrity of news dissemination is continually being threatened by a partisan media.
Only this time it is the Government of Annastacia Pluckachook and it involves shutting down the Adani coal project. Never has there been a more desperately deceptive ABC program with the sole purpose of changing Government policy to a damaging shade of green. New lows in journalism were reached last night in a determined effort to only quote and put words in the mouths of Adani’s opponents.
Only Green spokespersons and university bigots were interviewed for the purpose of accusing Adani of bribery, transfer pricing and boosting invoicing via offshore shell companies. Oh what a surprise! That sounds like a normal mining company, including BH-P, who pays as little as four per cent in “company tax”.
Due to a mix of easily outfoxing the ATO and sheer skulduggery, company tax can be above 30 per cent, yet that figure is never close to being paid.
Due to an array of various company taxes, writedowns, R and Ds and deductions, the going rate needs to move 10 per cent up or down at the top end for a difference of one per cent at the actual base rate paid.
Australia currently has the 6th highest corporate tax rate in the OECD at 28.7 per cent… that’s an uncompetitive 9.5 percentage points higher than the OECD average, without taking into account massive State royalties and other operating taxes.
Now this rate augers poorly when compared to Trump’s proposed 20 per cent, given that Australia will be competing head on with the US in the China market for coal.
China is opening one new coal-fired power station every week and, in its own words, will continue to do this until at least 2030. India says it plans to do much the same.
Mining taxes are certain to balloon even higher again if Shorten ever sees the inside of The Lodge.
Whether we like it or not, Australia is reliant on domestic and foreign investment and if it continues to impose such incredibly high taxes, particularly on new investment in the mining sector, the goose will quickly get sick of laying our mining golden eggs.
When we look at iron ore, Australia has the second highest effective tax and royalty burden after South Africa… and more than double that of its major competitor, Brazil.
The ABC wants Adani gone to the dogs too, like with its support of Gillard’s carbon tax and, unless Turnbull has a U-turn in mind, he and Frydanegg will take us down the same rabbit burrow as minerals rich Venezuela disappeared into.
But why should the ABC worry about profits when profitability plays no part in its own operation? Its aim is the Green mantra of destroying the profitability of anything to do with coal, thereby scaring away international investment and allowing a free run at grossly inefficient Green wind and solar energy with the aid of taxpayer-funded subsidies that are already putting energy costs out of consumers' reach.
But when money can’t be personally lost, the ABC will always opt for the destructive, ideological route of the Greens’ pillar of Communism, the angelic Lee Rhiannon (above) who swore two years ago that coal would be gone in two years.
Now a Qld election is imminent, the ABC clearly wants to force the Pluckachook Government to flip on its deal with Adani. 4Corners wants to replicate its extremely damaging "live exports" program where Gillard banned all live exports on the morning after the inaccurate 4Corners program aired and sent Australia’s livestock industry into a tailspin it is still recovering from and upsetting a fragile Islamic Indonesia to boot, for no effective improvement in halal compliant cattle slaughter.
But 4Corners won’t win this one. Any fool could see what the ABC was up to… a disgusting abomination of journalism and flagrantly dishonest reporting. The ABC is exhibiting dismay and desperation now that One Nation is likely to hold the balance of power in Queensland.
Now there's a head you'd never get tired of kicking
Adani has no intention to sell our coal to us… our coal is off to compete with Brazil in the Chinese and Indian markets just like our gas. Make no mistake, Adani boss Guatam Adani (above) is a crook and would lock his grandmother in the shithouse and collect her pension, but the ABC needs much more meat on the bone if it’s to make its ridiculous charges stick.
So is Adani really a bunch of crooks like 4Corners suggests? Of course it is! And it’s a grubby bunch of the worst India can offer! So what’s new? This is bloody mining!
Decades of investigations into Adani by Green activists have not resulted in one single charge being laid. Whether that’s due to Adani’s duplicity or the Greens’ incompetence is of little importance. Bugger Alan Jones' personal interests, Australia needs coal and gas sanity back in Queensland,
... (if it was ever there).