Saturday, April 04, 2009

From the "Cunning plan" file.

ANCHORAGE, Alaska -- The state of Alaska is aiming to collect "several hundred million dollars" from BP as compensation for pipeline leaks in 2006 that hobbled North Slope oil production and cut into state revenue, a state lawyer said...

...the bulk of the 49-page suit attempts to establish the state's claim to "lost" oil revenue by showing BP's negligence in maintaining oil pipelines in Prudhoe Bay and neighboring oil fields.
BP already faces stiff state and federal fines for the environmental effects of its lax business practices, but this notion of recovering tax revenues on earnings that weren't produced because a company didn't operate according to state approved practices is intriguing.

I mean, we've got a little revenue shortfall here in the Gateway to Alaska, too, and the People's Soviet of Alaska may have the solution. For instance, one of the things that our revenue forecasters take into account is the amount of sales taxes that will be returned by major retailers. Recently, those retailers have been somewhat disappointing on the revenue production front and it may be time for a full scale state review of their purchasing, pricing and merchandising practices. If we don't like what they've been up to, it's time to collect our "lost" revenues.

Property owners who are facing declining values will eventually return declining revenues. Make 'em pay the difference or haul 'em to court. And repos? Tax 'em double because they're hurting the whole market.

Or we could just tax the rich.

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