Wall Street Journal: Alaska’s Folly: Politicians Contemplate a State Income Tax

Republicans in Juneau would sock the state economy rather than tap a $51 billion reserve fund.

The first and only state to ever abolish an existing income tax was Alaska. It happened in 1980 when the oil boom in Prudhoe Bay and the construction of the Alaska pipeline brought gushers of windfall-drilling royalties and fees into the state coffers in Juneau.

The combination of high-paying energy jobs and the lure of no income tax made Alaska….  More here: http://www.wsj.com/articles/alaskas-folly-politicians-contemplate-a-state-income-tax-1461966849

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