HB 115: multi-pronged taxation
I am suffering from pre-enactment anxiety over HB 115. Here is why.
What HB 115 is not is a creation of a specific fund for education, as that cannot be done. No sources of revenue can be dedicated to any particular expenditure. Very clever of the House Democrats, led by Mr. Seaton, to attempt to snooker the under-informed by giving HB 115 the phony short title, “Education Funding Act.” Oh stop; I know he has an “R” by his name, he is about as much an “R” as Bernie Sanders.
What is HB 115? A multi-pronged taxation that will establish a beachhead into all of our wallets, from which we will never be able to rid ourselves. According to Bill Wielechowski, the tax rates will go up over time. The term “progressive tax” is a misnomer. All forms of taxation are regressive in nature. The only thing progressive about HB 115 is that it is progressively regressive.
Of the 720,000 residents of Alaska, only about 120,000 work. 2016 saw a loss of 9,100 workers, with projection for 2017 of 12,000 more losses. HB 115 will only generate initially approximately $700 million, leaving a $2 billion deficit. And will require a whole new department created to enable this extortion. To compare us to other states is beyond ridiculous. Most states have cities that have suburbs that outnumber our total citizenry.
I am unwilling to fork over any of my hard-earned money until such a time as Seaton and company have trimmed the government to barebones, stopping auto pay-raises for government workers, stopping the slush finds, stopping wasting more funds on the gas-line boondoggle, the list of cuts that has not been made but should be is extensive.
Sadly, HB 115 in totally unnecessary. With 610,000 barrels of additional crude waiting to be added to our current flow, which would add approximately $2.25 billion per year to our revenue. I get that some of you hate oil companies. Alaskans have enjoyed tremendous benefits from living in an oil-rich state since 1977. If you don’t like it, leave.