I’ve seen how corporations and special interests use their money to trick us into making choices that turn out to be bad for us. As I drive around Kenai and Soldotna and see “No On 1” signs in front of small businesses, I wonder if these small business owners realize that they are being manipulated into acting against their best interests? Small business owners are driven by different values than corporate managers. My dad owned an accounting practice and at age 87, in a nursing home just days before his death, he was on the phone with the IRS, trying to negotiate a tax deal on behalf of one of his clients. He loved his clients and looked out for them just like most other small business owners do. I believe that nearly all small business owners feel this kind of concern, loyalty and commitment toward their customers and their community. Alaska’s small businesses don’t measure their ties to the community in terms of a “return on investment.” They’re in business for the long haul. On the other hand, the oil company managers who are funding the No on Prop 1 campaign are motivated by short-term priorities. These managers are driven by their thirst for fat year-end bonuses and their desire to pump up company stock prices in time for them to exercise their options. They have no ties to our community and no sense of commitment to us. Their promises ring as hollow as any set of promises whispered in the back seat of a Chevrolet. As you consider voting Yes On 1 to end the oil wealth giveaway, remember these facts: Oil producers aren’t reinvesting all of their tax savings back into North Slope fields. According to Department of Revenue figures, our share of the oil income is dipping from around 30% to less than 10% with little hope that it will improve. North Slope producers will never make the aggressive investments needed to double or triple oil production because they realize that soon we’ll see that SB21 is driving the state off of a fiscal cliff and we’ll repeal it. The current up-tick in oil activity is not due to SB21 – the flurry of activity we see now was on the drawing board while we were still operating under ACES. SB21 supporters claim that it really doesn’t generate more profits for the oil companies than ACES but if that’s true, why are they outspending the Yes On 1 folks 40 to 1? Small business owners and everyone else who has a stake in the local economy should understand that voting Yes on 1 makes good business sense. When the state is driven into deficit spending by the wrongheaded policies of this Governor and legislative majority, the first of us to feel the pain will be Alaska’s small businesses. Vote Yes on 1 to repeal SB21 and return Alaska’s oil tax policy to one that’s fair for everyone – not just Alaska’s oil managers.
Posted on: Mon, 30 Jun 2014 01:58:06 +0000
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