The ADN has not published my letter to the editor, so I’m sharing it directly. This was a follow up to the opinion written by Kevin Banks in the ADN found at https://www.adn.com/opinions/2020/08/04/the-central-issue-in-the-oil-tax-fight-isnt-money-its-political-influence/
Measure 1 is about money – it is about the failure of the Alaskan republican leadership to support any meaningful alternative revenue while promoting empty rhetoric about cuts and distracting voters with insignificant alternatives. While Kevin Banks’ commentary August 5th in the ADN is right about the impact of political influence it could have gone further to show how industry is going to reap what they have sowed.
Measure one is citizens last resort as our savings runs out in the face of a legislature and administration that can not come up with its own revenue solution. If industry doesn’t like what is being proposed, they have only themselves to blame for supporting politics and politicians that spent our savings, gutted our university, eliminated support for local job creation, avoided new revenue sources, and left us with no alternatives. The party of NO-taxes will have done more to raise taxes on industry, and future generations of Alaskans, than any other factor when we finally get to a sustainable budget. Imagine what might have been if 16 Billion savings had not been squandered and was instead part of a POMV plan that would have itself generated $800M in funding a year, forever reducing taxes. Instead, all generations of Alaskans and industry in the future will have to pay that $800M in additional taxes. The party of No-Taxes-Now, should be seen now as the party of More-Taxes-Later, to be paid by others in the future. The word “greed” comes to mind.
Measure one is blunt solution, but its our last option and perhaps will, after passing and being a bridge for at least two years until it could be repealed, lead industry to support our long term Alaskan economy and as Mr. Banks’ noted, “our wider interests”.
H. “Ky” Holland