Palin Economics

An editorial from TIME that explores Palin's fiscal policies as governor of Alaska.

Although Palin's words side with McCain in this dispute, her actions side with Obama. Her major legislative accomplishment has been to revamp Alaska's windfall-profits tax in order to increase the state's take. Alaska calls it a "clear and equitable share" tax. The state assumes that extracting oil from the tundra costs about $25 per bbl. and takes as much as 75% of the difference between that and the sale price.