Palin governed from the center,' went after big oilWith the loony left's new-found appreciation for stay-at-home mommies it should only be a matter of time before it expresses same for the big oil companies and lower taxes, right?
...Palin dubbed her plan "Alaska's Clear and Equitable Share." Oil company profits are taxed at a 25% base rate, up from the previous 22.5%. The tax rate rises 0.2% for each dollar the price of oil exceeds $52 per barrel.
[snip]
Oil executives said the law amounted to a $6 billion tax increase this year and criticized it on the same grounds that McCain and Republicans have opposed efforts by congressional Democrats to repeal federal tax breaks for oil producers. They said it would cost jobs and reduce investment in exploration.
"The tax increase that Gov. Palin has signed into law reduces the attractiveness of future oil developments in Alaska," Kimberly Brasington, a spokeswoman for ExxonMobil, said after the bill passed in December. "We are re-evaluating investment plans."
(h/t Instapundit)
No comments:
Post a Comment