Posted on 08/22/2011 8:17:41 AM PDT by The Bronze Titan
Oil companies in Alaska are paying more money in taxes than ever before. The state's oil and gas tax revenues for its just-ended fiscal 2007 topped $10 billion. That's twice as much as fiscal 2006 and four times more than 2004. Some supporters of Barack Obama see that money coming in and say that John McCain's running mate, Alaska Gov. Sarah Palin, must have done what Sen. Obama wants to do -- sock those companies with a big fat windfall profit tax. This is a deeply misleading reading of her 2007 tax reform.
...continued HERE.
(Excerpt) Read more at online.wsj.com ...
After you show him the figures, Al, he just slinks away. Typical.
Nice work Al. Another two bit liar bites the dust.
why did you skip FY 2008 and FY 2009 ?
Exactly. In Alaska, they pay the oil companies 75% of the value of the oil for the rudimentary task of getting it out of the ground.
I think the rate ought to be 25% with the rest going directly to Alaska citizens.
From the OMB fiscal summary
http://omb.alaska.gov/ombfiles/08_budget/budget12.15.07/FiscalSummary.pdf
FY 2007 total spending: $10.18 billion
from the OMB page found here:
http://omb.alaska.gov/ombfiles/09_budget/FY09_Fiscal_Summary.pdf
FY 2008 total spending: $9.83 billion
From Gov. Palin’s press release
http://omb.alaska.gov/ombfiles/09_budget/bills/Budget_Press_Release_5-23-08.pdf
The FY2009 Budget totaled $11.1 billion (as stated in the 4th paragraph)
So those look like spending increases, overall, during the three-year administration of Gov. Palin, with a temporary dip in the middle year.
-George
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