Mises Daily
Author:
Morgan J. Poliquin
Online Publish Date:
On November 2, 2007 the US House passed a new mining law that mandates a 4% gross royalty on existing mines and an 8% royalty on future mines on public lands. The royalty, if imposed, represents expropriation over and above the corporate income tax mining companies presently have to pay. It also represents the common view that the proceeds from