Tim Dunlop and Andrew Leigh argue for windfall taxes on the mining industry. I don't like them, they are too much related to arbitrary government and punishment for economic activity. Economic rules and regulations should be consistent and not subject to the whim of populism, demagoguery or punishment for economic success.

If we use the state to punish an economic entity doing well through luck or good fortune, then we also must use the state to give tax breaks, subsidies, etc when times are not good through poor luck or bad fortune. Neither is tenable in a market economy.
Cam Riley: South Sea Republic. Freedom, liberty, equity and an Australian Republic.