Saturday, January 07, 2017

Poli Sci 101

Again the Legislature will fight over tapping the state's 15 billion dollar permanent fund.  It is that high because I raised the oil and gas royalty rates in the 80's when I was Land Commissioner.  It hasn't been raised or altered since.

But, I digress.  This money is seen by the rightwing anti taxers as a way of not having to pay their fair share in funding education.  Don't forget that the Permanent Fund is made up of money paid for extracting publicly owned oil and gas on state lands.  It is payment for a resource.  It is not a tax.  But the longer the Permanent Fund remains fat, then taxes don't have to be raised in the future to pay  the cost of educating our kids.  So, now the rightwing GOP legislators and some cowardly Democrats who take money from the oil and gas boys don't want any extra money taken out to help with our 'rainy day' budget.  That was caused in great part by the tax cuts of Bill Richardson and Susana Martinez.  But during big Bill's reign there was effort made at improving our economic condition, unlike Susana's total failure to do anything.

I think there is nothing wrong with taking some extra money out of the fund.  Put a sunset clause of 5 years and revisit the situation then.  

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