Obama wants to tax the miners 5% of groass

[jogslvr]

http://mineweb.com/mineweb/view/mineweb/en/page72068?oid=120691&sn=Detail&pid=102055

This may effect your mining stocks

[Usc96]

5% on gross from mining on public lands. Not sure I object to that. It's always seemed like an inside racket for who gets to drill or mine on public lands.

[jogslvr]

5% on gross from mining on public lands. Not sure I object to that. It's always seemed like an inside racket for who gets to drill or mine on public lands.

roger that

[GoldWampum]

The consumer will end up paying for that tax, like every other one they hide as nobel. Raising taxes is not the way to freedom and prosperity.

[gold miser]

This administration is going tax anything they can instead of getting to the root of the problem! fat gov.,sending billions overseas,and keeping the war machine in overdrive!

[phideaux]

The 5% tax would be in addition to all the other fees, permits, royalties and taxes the mining companies already pay, err I mean pass through to their customers.

If you want less of something, tax it. This tax would suppress mining in the US and boost the global price of all metals and minerals.

But Lord Obama doesn't care about the consequences of his actions. He only care about the locus groups and polls that say "this law might increase your popularity by 0.09%" Do it!

[Usc96]

Not meaning to pick a fight here, because I'm on your side with respect to tax. I certainly feel overtaxed. However, I have to ask, how are they going to pass this cost on to the customer when we all know the price of gold and silver has everything to do with the paper market (COMEX) and probably very little to do with the cost of mining. I suspect if the price of gold or silver got low enough, those same miners would go out of business. However, if the price of gold and silver went up, those miners would hire more and expand their facilities. As you can see in both examples, the miner has very little to do with the ultimate cost of the final product, but the ultimate cost of the final product certainly effects whether the miner can be profitable.

Am I wrong that the price primarily comes from the market, and not the producer?

[gpond]

It's always seemed like an inside racket for who gets to drill or mine on public lands.
I'm sure that is true. Consider, however, the possibility that the major enabler and possible root cause of the "inside racket(s)" is the fact that there are so-called 'public lands.' Aren't 'public lands' really private lands owned by the government? Obviously, it is not that the government is protecting this land from miners, but rather questions of who can mine it, and how much will they pay?

[budfox]

5% on gross from mining on public lands. Not sure I object to that. It's always seemed like an inside racket for who gets to drill or mine on public lands.

Spoken like a true communist. Well done sir!

[Usc96]

Spoken like a true communist. Well done sir!.

Wow! You do realize that a traditional Soviet communist would like that certain privileged comrades are given licenses to public lands.

[Goldfinger]

Hey now, let's be realistic here. Mining creates too many legitimate jobs. We certainly don't want this country going back to actually producing something do we?

[phideaux]

Mining is evil! :thumb.aspx:

Never mind that the entire Green Energy Economy (as Lord Obama would delude himself about), cannot exist without the dirty mining of millions of tons of silver, copper, REEs, nickel, vanadium, lithium, graphite, and on and on, every year.

[phideaux]

If a 5% tax would be good, why wouldn't a 75% tax be great?

[StateofJefferson]

Public lands should be reserved for marijuana growers.

[ErrosionOfAccord]

Not meaning to pick a fight here, because I'm on your side with respect to tax. I certainly feel overtaxed. However, I have to ask, how are they going to pass this cost on to the customer when we all know the price of gold and silver has everything to do with the paper market (COMEX) and probably very little to do with the cost of mining. I suspect if the price of gold or silver got low enough, those same miners would go out of business. However, if the price of gold and silver went up, those miners would hire more and expand their facilities. As you can see in both examples, the miner has very little to do with the ultimate cost of the final product, but the ultimate cost of the final product certainly effects whether the miner can be profitable.

Am I wrong that the price primarily comes from the market, and not the producer?


Remember this silly statement when your power statement goes up 5%. The fed gov is not Constitutionally permitted to own property therefore the public land arguement sucks.

[phideaux]

Remember this silly statement when your power statement goes up 5%. The fed gov is not Constitutionally permitted to own property therefore the public land arguement sucks.

Adherence to the Constitution has long since been abandoned by all 3 branches of the Federal Goobermint. :banghead:

[LukeNM]

Adherence to the Constitution has long since been abandoned by all 3 branches of the Federal Goobermint. :banghead:

According to Chuck Schumer that's the House the Senate and the President, right?

[tomexxtra]

DON"T WORRY IT WONT EFFECT YOU.......


Let's say they just added a $1 tax on milk now it cost the company an extra $1 you are paying $5 a gallon.
you say that would effect you cause you buy milk. It doesn't effect me I don't drink milk. It does add charges to everything that has milk products.

So a 5% surcharge won't effect you, it would only effect miners, think again.
I see on the futures chart a gallon of oil is worth $2.77 even though I bought 125 gallons for $3.77.
Now I'm thinking about switching to Natural Gas so I want to sell my oil I just bought. Oh Tom
you know oil is only worth $2.77 and if I buy it there is tax that gets put on so we will pay you $2.00 a gallon.


So lets take a better look at that again. Gold is $1375 an ounce and a Eagle cost $1440 and they buy it back at spot [$1375]. Now add 5% special tax. A one ounce Eagle would cost $1495. Oh by the way Tom you want to sell it we will give you spot minus that NEW 5% Tax they just put on so we will give you $1306.
But don't worry it wont effect YOU, just your wallet.

[phideaux]

According to Chuck Schumer that's the House the Senate and the President, right?

Chuck E. Cheese has more brains than Chuck E. Schumer.