A $321 million tax hike

Denver Post- October 10, 2008
A counterpoint to Gov. Ritter's article is that amendment 58 is essentially a tax hike for oil and gas producers but the tax will be passed on to consumers through higher retail costs of energy bills. What I think is flawed about this argument is that the public will not have a tax increase in sales tax, property tax, or income tax. the only tax being influenced is that on the extraction and sale of oil and gas. This is a way for the state to level the tax base for all oil and gas industry, under $300,000 pays no tax and over $300,000 pays 5% tax. Seems easy enough to me, maybe income tax should be divided the same/similar way.


http://origin.denverpost.com/ci_10682431