June 28, 2013

West Virginia wants a Future Fund

Interesting news from today's Charleston Gazette:

A substantial majority of West Virginians favor a proposal to increase taxes on coal operators to create a long-term fund to help diversify the state's economy, according to a new survey conducted for the Union of Concerned Scientists.

More than two-thirds of those surveyed by Lake Research Associates support the idea of using natural resources taxes for a "future fund," of the sort promoted by the West Virginia Center for Budget and Policy, a progressive think tank.
Read more here.

Wonky footnote: those of us who have been promoting the Future Fund think there are lots of ways of doing, some of which don't involve increasing taxes on coal or gas, although if we put more in, we'd obviously be able to get more out. One proposal would simply set aside a percentage of any increase in gas severance taxes above a given point.

Still, the numbers are exciting. I hope this gives the idea a boost.

LIKE DENYING CANCER. WV's ruling class loves to deny climate change because of money. This item suggests that may not be the best idea to ever roll down the pike.

INEQUALITY MATTERS. Here's a look at the whole one percent thing and an item on CEO pay.

A VIEW FROM UP NORTH. Here's a column by Gazette editor Dawn Miller about a public meeting in Wheeling of the WV Senate's Select Committee on Child Poverty.



1 comment:

Hollowdweller said...

Legalize Marijuana.

$500 bucks per year to get a permit to grow.

You are allowed to grown 2 lbs.

When you harvest a state inspector comes and based on a green to dry weight formula he takes any over 2 lbs you may produce and you keep the rest.

Then you can use or sell the rest. You have to keep a book with who you sell to and their age available for inspection at all times.

State sets a price of 300 and oz with 100 per oz going to the state.

Retail license to sell 1000 per year, but you must then buy from the individuals with permits. Wholesale sales exempt from 100 tax but 100 tax applied then to the retail sale.

This would keep big agriculture out of it and distribute the profits to as wide as possible amount of mountaineers.

All profits over paying the inspectors goes to Future fund.