General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIncome Tax in Alaska? What would Sarah do?
http://www.nytimes.com/2015/12/26/us/as-oil-money-melts-alaska-mulls-first-income-tax-in-35-years.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region®ion=top-news&WT.nav=top-news&_r=0With oil prices down along with oil production, the state is facing an Alaska-size shortfall: Two-thirds of the revenue needed to cover this years $5.2 billion state budget cannot be collected.
Many Alaskans are not old enough to recall times this bad. This is the nations least-taxed state, where oil royalties and energy taxes once paid for 90 percent of state functions. Oil money was so plentiful that residents received annual dividend checks from a state savings fund that could total more than $8,000 for a family of four arriving each autumn, as predictable as the first snowfall.
TexasProgresive
(12,158 posts)Ain't we gotta enough grief?
pinboy3niner
(53,339 posts)She'd get halfway there and quit.
TexasProgresive
(12,158 posts)Blue_In_AK
(46,436 posts)and rumor is that she absolutely doesn't want to live in Alaska anymore, which does my heart good.
TexasProgresive
(12,158 posts)That reminds me I always though it ironic that Dimdad's library was build on the site of the former swine center at TAMU and Dimson bought a former pig farm for his play Reaganese ranch.
Blue_In_AK
(46,436 posts)but it seems appropriate somehow.
Blue_In_AK
(46,436 posts)and it wasn't all that bad. In fact, Governor Hammond himself (the "father of the Permanent Fund" once said that the biggest mistake he ever made was discontinuing the income tax. Now latecomers to the state, those who have arrived in the last 35 years, have become spoiled. I for one would be happy to see the demise of our oily overlords and a return to Alaska self-sufficiency. Maybe we could go back to being a Democratic state then, as we were when statehood was first granted.