Aotearoa / New Zealand

That's the primary reason yes.

We don't tax corps. We used to. Taxed them 70-95% I can't remember the actual number.

But that's what built the industrial powerhouse that won the cold war. Those high taxes could only be written off by reinvesting into the business. Hiring more people. Raising wages. Buying new equipment. Those high tax rates are what made it all work.

Without those you get Gilded ages like what both proceeded and have followed them. Because capitalism eats itself without a strong government hand at the tiller. Protecting it from itself.

It makes sense. It's a valuable resource that the country should own as a whole. Make it work to improve the country, not just a small group of individuals bank balances

Could be worse You could be Australian! We subsidise them to take our resources 😀🙁

If I understand the argument is that we have no expertise in finding and extracting it, so we have to offer bigger concessions to get anybody to do it.

Which sounds like the wrong solution to the problem, but what would I know?