There is nothing wrong in charging industries for resources. Do you think they should get it for free if the citizens own the resources? This is pure capitalism at its finest.
Pray for America
Technically, this is a production tax. The royalty tax is a separate tax to cover the resource itself.
It should be noted that Parnell is working to lower this tax and to change it to a tiered tax system to encourage more production, because the current tax appears to be stifling new production because it can take up to 42% of the profits (again, that’s not including the royalty payments).
Remember that when Palin put her new tax in place, oil prices weren’t nearly as high as they went in late 2008; so what looked reasonable before now is too high a tax rate with the higher oil prices.
Handouts are not pure capitalism bray. Government always makes royalties off public land resource exploitation and offshore...that is not the question.
Does any other state do it?
Why not just reduce state budget tax needs instead of giving out cash.
I find it a serious question for a conservative forum and it is not about Palin..she only gets credit for making them more honest in their accounting..the Permanent Dividend has been in place since 1976