Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (120554)	6/30/2016 4:03:16 PM
From: Snowshoe	Respond to of 219523

We've lost 80% of our revenue, causing a $3 billion+ deficit. Governor Walker's proposed income tax would only replace about 10% of that lost revenue. Those so-called "outrageous tax cuts" for the oil companies were designed to cut taxes when oil prices are high. But when oil prices are low I'm told we're actually collecting more under the new tax regime than under the old tax regime. The oil-tax credits are indeed a huge liability, but Walker just deferred $430 million of those. The state also has underfunded pension liabilities, recent credit rating downgrades, and an unsustainable rate of drain on our savings. I'm glad we have Walker to force these cuts, but he has a pet megaproject of his own: state involvement in the Alaska LNG project. I sure hope the legislature keeps us out of trouble on that.