Posted on 08/14/2008 12:55:18 PM PDT by TitansAFC
....“Windfall profits taxes alone prevent additional investment in domestic production. Without new supplies from American reserves, our dependency and addiction to foreign sources of oil will continue,” Governor Palin said.....
http://palinforvp.blogspot.com/2008/08/palin-blasted-obama-on-windfall-profits.html
The Governor did question the means to pay for Obama’s proposed rebate — a windfall profits tax on oil companies. In Alaska, the state’s resource valuation system, ACES, provides strong incentives for companies to re-invest their profits in new production.
“Windfall profits taxes alone prevent additional investment in domestic production. Without new supplies from American reserves, our dependency and addiction to foreign sources of oil will continue,” Governor Palin said.
I will be posting more on this tomorrow, but if you want the real facts about Gov. Palin's tax policy, there is a massive amount of information provided on her website.
Palin for VeeP bookmark.
I thought it sounded wrong that she supported “windfall profits taxes”. Thanks for posting this.
Posturing for a new job in Washington?
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Y'know, she's kinda cute. |
We now know who would be the perfect VP candidate for Obama:
Jimmy Carter
Thanks! I’ll put this on her facebook support site.
Why not? He’s running for Carter’s second term anyway.
I was going to ask the same thing.
Governor Sarah Palin Blasts Obama on “Windfall Profits Tax”
Should be:
Anyone Capable of Thought with Any Economic Experience Blasts Obama on “Windfall Profits Tax”
Does anyone know what is the current royalty the oil companies pay to the state for Alaskan oil? Does it automatically adjust to the world price of oil?
I like Alaska's attitude that the oil belongs to the people of Alaska, and if the oil companies pump it they have to pay for it, which gives enough to run (largely? completely?) the state government along with distributing a check to every resident. This might just be getting the payment more in line with the increased value of the oil in the ground.
BUMP
Here’s the previous article...
http://boortz.com/nuze/index.html
Pretty clear that they’re calling it a wind fall profit tax.
Here’s a previous article....
http://boortz.com/nuze/index.html
Seems pretty clear they’re calling a windfall profit tax.
The Alaska tax seems similar to a windfall profits tax although it has a different name. I do not believe that the tax depends on the level of profits. I believe the tax is assessed on production levels.
I am not sure that the impact of the tax is much different than a windfall profits tax. Regardless of its impact, I am uncomfortable with the Alaska oil tax. The tax effectively makes Alaskan residents partners in the energy business when residents have no investment in these ventures. This tax (and the rat proposed windfall profits tax) are just legalized theft and destruction of property rights. I am sure that this tax is very popular in Alaska. Alaskans are just exporting the cost of their government to the other states with this tax.
I think that Sarah Palin would make a good VP choice but she will be dogged by this Alaska oil tax. I am not sure that the Alaska oil tax will be a significant issue in the election so I do not oppose choosing her because of her support for this tax.
Wow, how many threads have been spammed with that posting?
You thought this thread was about Governor Palin? For shame !
The Alaska tax is based on the idea the residents own the resource. The oil companies are taxed on the profit they get from selling the residents oil. The rebate the state is paying ($1200), is from the 8+ billion dollar surplus the state received this past year.
From http://financial-dictionary.thefreedictionary.com/
Windfall profit
A sudden unexpected profit uncontrolled by the profiting party.
The pot calling the kettle black.
Palin signed a windfall profits tax in Alaska. Who’s kidding who?
What she is really saying is You can’t put a windfall profits tax on big oil because I am already doing it.
Sorry for the repetition, and that it sets you off, but over 10 years here on FR have shown me that it gets the word out to many hundreds, and even thosuands more regarding the info about Obama.
The actions of her administration contributed to my decision to leave working in the Alaska Oil patch and return to Texas.
I didn't see anything in there about a change in the payment schedule. It does look like the high price of oil pushed the payments to a higher percentage. The idea of the Alaska method is that the oil belongs to the residents of the state, not to the oil companies. For pumping the oil the oil companies get to keep some of the money and have to pay some of it to Alaska. Hey, if I had a big puddle of oil underneath my land, I would try to get a similar payment plan - I get at least some of the increase of value of _my_ oil if the world price goes up. It would be pretty stupid to sell it to the oil company many years in advance for a fixed price per barrel.
Leave Jeff alone!
This isn't done anywhere I know and it wasn't done it Alaska. It was a percentage that already went up when the prices went up, both for royalties and again for taxes on profits. Palin's administration then raised the percentage and made the change retroactive.
That looks nice but we want to keep her for a while!
Right I noticed that after I had posted it...sorry...I think it was from Monday.
sounds like a vp
“sounds like a vp”
From your lips to God’s ears, FRiend.
The idea behind the tax is preposterous. To own an asset, you must purchase it and invest in it to make it productive. The fact that the residents have declared themselves owners without investment is legalized theft. The rats have the same idea. They feel entitled to windfall profits, whatever a windfall profit is.
Here are some provisions about the tax:
This is one tax that the rats can love. It seems that the state is assessing a hefty profits tax. There is even a rate uptick when the price per barrel rises above an arbitrary threshold.
You can apply the same idea to any asset. Suppose we say that the state owns all real estate. Essentially you receive a lease and must pay 22.5% to the actual owners of your property. The owners however have no obligation to invest in the property. If you do not make specified investments, your lease will be taken away.
Palin for VeeP bookmark.
HAH! :)
Yes she is :)
My understanding of the deal she cut is that it’s NOT a tax, but rather a royalty on a sliding scale.
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