Tuesday, 26 July 2011

Good for Palin, bad for Obama?

How come Sarah Palin proudly took on the largest corporations in the state of Alaska, taxing them in a way she thought was fair, raising billions of dollars in revenue for her state, but President Obama can't do the same for the country?

The Alaska Legislature adopted a plan proposed by Palin in 2007 (Alaska’s Clear and Equitable Share) that raised the tax that oil companies have to pay on their profits from a base rate of 22.5 percent to 25 percent. Oil companies, including ExxonMobil, opposed the tax hike, claiming it would affect their project investments. The revenue generated from the tax increase, which significantly added to the state’s budget surplus, allowed Palin’s administration to issue a one time "resource rebate" of $1,200 to eligible state residents in 2008 to help with increasing energy prices. The rebate came in addition to the annual dividend check ($2,069 in 2008) that residents receive as their part of the state’s oil wealth.

The state of Alaska wasn't going through a major financial crisis, and yet she counts ACES as one of her achievements as governor.

Now she's writing Facebook notes encouraging the GOP in Congress to thwart Obama's plans for solving the debt crisis through his proposal of a tax hike for the corporations, something similar to what she implemented in Alaska, but not to butter up the electorate, all he wants is to save the economy and prevent defaulting on the debt.

Obama is not planning to send every American a $1,200 check, he just wants to balance the books and preserve vital services for the needy. Sarah Palin wishes to protect the profits of the least needy.

What was clear and equitable for Alaskans is not clear and equitable for her precious real Americans?