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There was already a royalties scheme in place that gave each Alaskan over a grand per year. There was already a State tax on the oil. What palin did was layer an additional windfall profits tax on top of those existing fees and taxes.

The President of BP Canada said publicly that her tax brought the total share of the state to 75%. He also said that this excessive taxation caused BP to cyr back on their Alaska operations and to increase activity in areas that were more business friendly.

At the time that palin imposed the windfall profits tax the GOP in DC was stopping the same thing on the Federal level and our dear leader was proposing one as part of his campaign platform.

8 posted on 03/18/2011 5:16:50 PM PDT by wtc911 ("How you gonna get down that hill?")

9 posted on 03/18/2011 5:26:26 PM PDT by curth (SarahPac: Nearing 3 million Facebook members! Are you in for $20.12?)

There was already a royalties scheme in place that gave each Alaskan over a grand per year

Gee. I wish my state had one of those risky schemes.

19 posted on 03/19/2011 10:07:57 AM PDT by McGruff (Drill, Baby, Drill.)

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