[The Lumster]

Conservatives don't like tax-raising, but Palin justified the increase by pointing out that the previous 22.5% tax was passed in 2006 under suspicious circumstances. Several members of the legislature that set the amount of that tax were convicted or indicted on federal bribery charges related to the bill. Palin also explained that the '06 tax did not perform as advertised, and she offered as evidence an $800 million shortfall in expected revenue

This is supposed to be a recommendation for this woman? The original 22.5% tax did not raise as much revenue as expected so the answer is to raise the tax? Sounds like politics as usual to me.

Taxes cause people (and companies) to change their behavior. Politicians never seem to be able to grasp this concept

[padre35]

I disagree with that The Lumster, tax revenue bills passed while Congresscritters are being bribed is an entirely different kettle of fish then mere tax increases to buy votes.

Especially when it involves natural wealth extraction, which has a high mark up and once it’s been used, it is gone.

[Josh Painter]

Despite tax increase,oil profits rise

Excerpt:

"Driving the state's increased revenue, while allowing the company profits to remain high is the structure of the new tax. It is a production tax, calculated before profits are figured. That means some of the state's increased production tax revenue comes at the expense of state and federal income taxes, which actually declined for both companies."

-snip-

"Among the legislative critics' big concerns was that the new taxes would reduce investment in the state, a fear the oil companies tried to instill as well."

"Since the passage of the ACES tax, however, investment appears to be up."

[itsahoot]

This is supposed to be a recommendation for this woman?

You know any other states with a negative income tax? (The state pays the citizen) Hmmnn.