Tax & Spend Versus Drill & Spend: An Alaskan Political Conundrum
by John Laumer, Philadelphia 
on 09. 1.08
For decades, the US State of Alaska has obtained most of it's revenue from oil. As the oil income stream to Alaska slows, as the State acknowledges that it will, Alaska's budget is projected become increasingly reliant upon so-called "non-oil" tax revenue. That means more tax on corporations. And eventually, we speculate, on individuals. Goes to the motive of McCain's VP candidate Alaska Governor Sarah Palin (as pictured) for supporting ANWR drilling.
Alaska’s tax revenue grew at an average annual rate of 12 percent from fiscal year 2001 through fiscal year 2006...This growth came from both oil taxes and non-oil taxes. From 2006 to 2011, however, oil tax revenue is projected to decline at an average rate of 2 percent a year, while non-oil tax revenue is projected to increase at an average rate of 4 percent. This divergence means that Alaska’s non-oil taxes will become a more important contributor to state revenue as time passes.Via:: Dan Stickel, Economist, Alaska Department of Revenue; Alaska's Non-Oil Tax Revenue Projections, Image credit::NYT, "Senator John McCain introduced Gov. Sarah Palin of Alaska as his choice for vice president..."
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Remember that when the state sold the leases for Prudhoe bay they put the money in a permanent fund that is invested in stocks,bonds,real estate, etc. This fund grows every year and every year more of the fund is used to fund essential services , this is what it was designed for, this is in fact the biggest source of non tax revenue.
A far more relevant story to report regarding Sarah Palin is her support for Pebble mine, aerial"predator control" ( wolves and bears) and her desire to teach creationism.
Many of us here in Alaska are deeply ashamed of her backwards environmental and social values,do not be fooled by the gender or pretty package or ethics reform. She is a step backwards.
Gee TB
Many of us (here in Alaska) are glad about Sara - not everyone agrees with everything she says/does, but she is much better than some who have come before.
Just as I do not (and cannot) speak for all Alaskans, neither should anyone reading the blog take your comments with more than a grain of salt.
Sara is pro-development. IF for example, you do not wish to see the Pebble mine developed, why not start a movement to buy out the mining claims?
People can accomplish great things WITHOUT using the Governement as a bully or hitman.....
Peace, out
If we drill in ANWR, we can reasonably expect at least a trillion dollars in royalties and corporate taxes...and even more if we charge higher royalty rates than in the past, which is perfectly fair when oil is $100+ barrel.
It is absolutely idiotic to leave this oil in the ground and instead send a trillion dollars to the Arabs. The environmental impact in ANWR would be minimal, and almost certainly smaller than it would be if we were to buy it from the other side of the world and ship it, which is the real alternative.
The current "Gang of 14" plan is a step in the right directions - a trade of drilling rights in part of the OCS (a Republican favorite) for a bunch of environmental goodies. We now just need to make the same kinds of trades for the rest of the OCS and ANWR. What should we make the Republicans give up next?
Instead of p1$$ing into the wind on this issue, the left should harness it.
Gee Don,...
"People can accomplish great things WITHOUT using the Governement as a bully or hitman....."
"troopergate" is all I have to say. I would not trust this woman with the life of a goldfish, let alone precious resources that will affect so many on such a large scale. Her lack of sound judgment is shocking.
Ah, anon
IF you can read
The post was less about Sara Palin than organizations trying to use the FedGov (or local Government) as a bully or hitman.
You have made my point exactly
You should try to limit yourself to speaking to the topic - rather than going right to a personal attack on someone you have (I am willing to bet) never met or studied - you would come across as much more intelligent.
Peace, out