RE: Windfall Tax... ktannaHelp me out a little here.
Exactly what are "excess" profits?
And what is the logic of the government having a sliding scale of taxation related to an arbitrary price on any given commodity?
If the government receives a fixed percentage of all earnings, aren't they already participating in all profits, "windfall" or not?
I underatnd the logic of the US cracking down on a vertically integrated entity that arbitrarily inflates their profits by controlling commodity prices from production to retail, but that isn't the case with mining in Mongolia.
So at what level is it "excess" profits and why can't a fixed level of reasonable government taxation achieve a win-win solution for the risk taker and the governmnet?