Weren't the conservatives on here barbequeing Hillary about that like...five seconds ago?
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12.09.2008

Palin's Oil Tax Heresy?

"The key to Sarah Palin's popularity in Alaska might have something to do with the fact that this Friday, her administration will give every man, woman, and child in Alaska a $3,269 check. What did Palin do to free up this kind of money? She increased the oil tax from a 10 percent gross revenue tax to a 25 percent profits tax. The result was a massive influx of cash to state coffers. BP, for example, saw its state taxes increase by 480 percent.
All of this should be anathema to economic conservatives, who cry class warfare whenever Democrats broach the topic of windfall profits taxes. (McCain took Obama to task when the latter proposed a national windfall tax earlier this summer.) But it isn't. Two of the most prominent economic conservatives, in fact, twisted their logic to defend Palin's oil tax when I reached them earlier this week. "Rather than have the government spend [the tax revenue], they give it back to the people," Grover Norquist, President of Americans for Tax Reform, told me. Given the fact that the state is taxing corporations for a quarter of their profits, the argument goes, it's better to give that revenue back to individual taxpayers than for the state to keep it. That's a neat formula--once you get past the fact that Palin initiated the massive tax increase in the first place."




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Lost in right wing hypocrisy.

The magic R behind her name makes everything alright. Simple but true and it would be funny if it wasn't so sad.

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