QUICK! Someone call Joe the Plumber, America’s preeminent economist, and ask him for his opinion on Palin’s increased taxes on oil companies operating in Alaska!
Palin also raised taxes on oil companies after Murkowski’s previous tax regime produced falling revenues in 2007, despite skyrocketing oil prices. Alaska now has some of the highest resource taxes in the world. Alaska’s oil tax revenues are expected to be about $10 billion in 2008, twice those of previous year. BP says about half its oil revenues now go to taxes, when royalty payments to the state are included. Earlier this week, Palin approved gas tax relief for Alaskans, and paid every resident $1,200 to help ease their fuel-price burden.
Basically, Comrade Palin was sitting at her desk, admiring Russia from afar, and suddenly said to herself, “Doggonit, those oil companies are making a lot of money! I’m a maverick, so I’m gonna raise taxes on ‘em and send an additional $1,200 check to Alaskans. Spreadin’ the wealth, you betcha.”