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Page added on August 20, 2014
Alaska Oil Tax Repeal Measure Losing
Sarah Palin Favored Reverting to the Oil Tax Structure She Signed into Law in 2007
An Alaska ballot measure to repeal a 2013 oil tax law that drastically cut the amount major oil companies in the state pay was losing early Wednesday morning.
The referendum was losing by a 52.1% to 47.9% margin, with 80% of precincts reporting results, but it was still too close to call, according to the Associated Press.
The No on One campaign opposed the measure to revive oil tax policies enacted under former Gov. Sarah Palin. The state’s Republican and business establishments waged a $15 million campaign—funded in large part by three oil companies—to defeat the question.
Willis Lyford, a spokesman for the No on One campaign, said he expected that the results would hold and the measure be defeated once all the votes were counted.
Outspent by more than 15-to-1, supporters of the ballot question wanted to revert to the old oil-tax structure that featured progressive taxes when oil prices rose. The 2013 law backed by state Republicans carried a flat tax on revenues.
Mrs. Palin, who favored reverting to the oil tax structure she signed into law in 2007, wrote in favor of approving the measure on her Facebook FB -0.44% page and posted an 18-minute video defending her position on her website. But she declined or ignored invitations to appear in public on behalf of the campaign to revert to the policy she enacted as governor.
Spokesman TJ Presley said the Vote Yes! Repeal the Giveaway campaign was still optimistic because “the margin is extremely tight and the win still up for grabs.”
3 Comments on "Alaska Oil Tax Repeal Measure Losing"
Pops on Wed, 20th Aug 2014 10:44 am
Publicly subsidized oil extraction through lower taxes (socialism) is the only thing that will keep oil companies afloat as cost to extract rises and the waste in consumption is priced out.
Davy on Wed, 20th Aug 2014 11:29 am
I agree pops. If we are going to have a manageable transition oil production must continue or game is over. In a martial law economy the assistance would be more than lower taxes it would be preferential treatment in access to resources and utilization of personnel. We are closer than many want to admit to martial law. I should clarify martial law. I would more equate it to the war time economies of WWII. Yet, with the loss of productive capacity in a command control economy we may have a militaristic arrangement to protect people and property from the masses of dispossessed along with a quasi-capitalistic economy and command/control authoritarian structure.
Nony on Wed, 20th Aug 2014 5:21 pm
This sh!t is so 1970s. Windfall profits taxes redux. Noone gives windfall tax credits though. When Reagan let the manhood swell and dereged prices and the lot and got away from the Nixon-Carter wimpy crap, things were all breakfast in America.
And I DO want to drive my Escalade to the Church picnic. So fvck you lib’ruls.
*It’s about time to ban me, Pops.*