I hope that the people of Pennsylvania and Ohio know the amount of natural resources they have beneath their feet. The author of this piece, Joe Miller, knows what he is talking about. He is from Alaska, the only state that does not have a state sales or state income tax. The government and services are financed by the royalties from their oil production. A vote for Romney sounds like a no-brainer to me.
Excerpt: Voters in Pennsylvania and Ohio have a unique opportunity to make themselves energy producing giants this Tuesday, if they vote for the right candidate.
As geologists and energy experts probe what’s under the ground in these two states, it is becoming apparent they are sitting on huge reserves of natural gas. In addition to gas, they already have huge reserves of other forms of fossil fuels.
But in particular, the gas is near the surface and easy to obtain. If there is willing government cooperation from Washington DC, these states will be booming due to energy production. State treasuries would be overflowing with royalties from the billions in energy sold.
Read the full article here.
Tax (Photo credit: 401(K) 2012)
This was posted on The Weekly Standard Blog this morning. I guess Obama didn’t do too well in math at school.
Last night, the Obama campaign blasted out another email claiming that Mitt Romney’s tax plan would either require raising taxes on the middle class or blowing a hole in the deficit. “Even the studies that Romney has cited to claim his plan adds up still show he would need to raise middle-class taxes,” said the Obama campaign press release. “In fact, Harvard economist Martin Feldstein and Princeton economist Harvey Rosen both concede that paying for Romney’s tax cuts would require large tax increases on families making between $100,000 and $200,000.”
But that’s not true. Princeton professor Harvey Rosen tells THE WEEKLY STANDARD in an email that the Obama campaign is misrepresenting his paper on Romney’s tax plan:
I can’t tell exactly how the Obama campaign reached that characterization of my work. It might be that they assume that Governor Romney wants to keep the taxes from the Affordable Care Act in place, despite the fact that the Governor has called for its complete repeal. The main conclusion of my study is that under plausible assumptions, a proposal along the lines suggested by Governor Romney can both be revenue neutral and keep the net tax burden on taxpayers with incomes above $200,000 about the same. That is, an increase in the tax burden on lower and middle income individuals is not required in order to make the overall plan revenue neutral.
You can check the math that shows Romney’s plan is mathematically possible here.