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Alaska to adopt state income tax due to low oil prices


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#1 BlueMound

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Posted 10 December 2015 - 02:01 PM

http://www.zerohedge...t-time-35-years

#2 Doohickie

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Posted 10 December 2015 - 02:55 PM

My heart bleeds for them.  :\


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#3 johnfwd

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Posted 10 December 2015 - 03:33 PM

My heart bleeds for them.  :\

 

Yes, but will we in Texas also be facing the need for other forms of taxation or user fees to offset a similar revenue shortfall on account of low oil prices (U.S. crude on the oil trading market today was around $36.00 a barrel!)?



#4 renamerusk

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Posted 10 December 2015 - 08:32 PM

 

My heart bleeds for them.  :\

 

Yes, but will we in Texas also be facing the need for other forms of taxation or user fees to offset a similar revenue shortfall on account of low oil prices (U.S. crude on the oil trading market today was around $36.00 a barrel!)?

 

 

Increase parking fees at downtown garages :swg:



#5 JBB

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Posted 10 December 2015 - 08:43 PM

I don't think there's much of a chance for an income tax in Texas as long as Republicans continue to easily keep control of the legislature and run away with the governor's office with 60% of the vote.

#6 Roger_H

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Posted 12 December 2015 - 10:52 AM

A couple of big differences between the tax situations in Alaska and Texas.

 

First, in Alaska, almost all the land is owned by the Federal government, and I assume not taxed. In Texas, almost all our land is privately owned and therefore subject to taxation.

 

Second, Texas has a vastly greater population, buying stuff and paying sales tax on their purchases.

 

So, governments in Texas have two huge revenue streams that Alaska doesn't have.






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