Obama Puts Big Oil, Big Coal on Kill List and Looks to Replace Them with a 109-Year-Old “New” Idea
He’s already going after the oil industry. It’s called the Keystone pipeline and the drilling moratorium in the Gulf of Mexico. He’s doing everything he can to hamper Big Oil. Now, this story, he’s talking about property taxes here. This is out of the Wall Street Journal: “An energy boom has flooded North Dakota’s coffers at a time when almost every other state is struggling to make ends meet. But when its fiscally conservative residents get the chance Tuesday to vote themselves a big tax cut, they are expected to say ‘no.’ At issue is a referendum for a proposed constitutional amendment to eliminate local property taxes, requiring the newly flush state government to make up the difference.”
They got plenty of money because of this boom. It’s an oil boom, and the residents have a chance to get rid of property taxes. Public unions, employee unions, are leading the charge to oppose eliminating the property tax. They want it maintained. Basically what we have here: “Proponents, a loose group that includes people ranging from progressives to tea-party members, say the state can afford it, thanks to as much as $3 billion in expected revenue from taxes on oil and natural-gas production in the current and next fiscal years. They also cite sales-tax revenue that has jumped 86% from two years ago because of an influx of new residents and businesses.
“But the measure’s many opponents, including Republican Gov. Jack Dalrymple and organizations ranging from the North Dakota Chamber of Commerce to public-employee unions, fear that eliminating property taxes is too risky a bet on prosperity that might not last. They point out that state government already is pumping more money into local communities that is helping to reduce property taxes. And they say the proposed amendment doesn’t explain clearly how it would cover the loss of the estimated $810 million that counties, towns and other local entities receive annually from property taxes.” Likely voters oppose the measure by nearly three to one. So they’re worried here that the boom won’t last. And what Ben here is saying is they might have a fear, since Obama is telling the coal industry that they’re toast, that he might also tell these people he might outlaw fracking. He might make the way they are extracting oil illegal, shut it down.