Wednesday, October 26, 2011
We are not at a point just yet where this fund needs to be invaded in this manner. Our state's permanent funds, including the Land Office permanent funds, are an envy of most other states. These funds were visionary at a time when non partizan solutions were sought in the era between statehood and the 1990's. My old boss democrat Governor Bruce King supported the severance tax measure as did a majority of the legislature. Where have those times gone? Dead with the likes of Susana Martinez and the neo cons.
Dead with the shifting of wealth over the last two decades very few control most of the money. You can see where the wealthy would like things they way they are happening in the Severance tax funds. If the state spends its savings account then the rich pay less taxes.