Windfall Profits Tax.....BAD except in Alaska

[Lochloosa]

Back to reality. Of the 50 states, Alaska ranks No. 1 in taxes per resident and No. 1 in spending per resident. Its tax burden per resident is 2 1/2 times the national average; its spending, more than double. The trick is that Alaska's government spends money on its own citizens and taxes the rest of us to pay for it. Although Palin, like McCain, talks about liberating ourselves from dependence on foreign oil, there is no evidence that being dependent on Alaskan oil would be any more pleasant to the pocketbook.

Alaska is, in essence, an adjunct member of OPEC. It has four different taxes on oil, which produce more than 89% of the state's unrestricted revenue. On average, three-quarters of the value of a barrel of oil is taken by the state government before that oil is permitted to leave the state. Alaska residents each get a yearly check for about $2,000 from oil revenues, plus an additional $1,200 pushed through by Palin last year to take advantage of rising oil prices.

http://www.time.com/time/politics/article/0,8599,1839724,00.html

[yurbud]

1. that's better than the Saudis get!

[Lochloosa]

2. Selfless Kick...damn trying to compete with Obama and Biden

[Supersedeas]

3. and yet the Media Free Ride keeps going and going and going and going

[Lochloosa]

4. It's "going" to catch up

"fingers crossed"