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Discussion group:  NewsTop   Discussion group:  News News    Discussion Topic: Amendment 58: Severance Tax on Oil and Gas Amendment 58: Severance Tax on Oil and Gas

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Amendment 58: Severance Tax on Oil and Gas
T O P I C Discussion Started: 10-06-2008, 10:49 PM Add to the Discussion
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Amendment 58 would eliminate property tax credit given to oil and gas producers, and would reallocate severance tax revenues for scholarships and other purposes.

Supporters said this will end Colorado's $300 million subsidy for oil and gas, provide additional benefits without raising taxes or increasing costs, such as providing scholarships that will help the long term economic health of Colorado.

Opponents said food, fuel and utility costs will rise if Amendment 58 passes. Critics say it will send more money to the state government and the scholarships do not provide critical operating capitol for Colorado colleges and universities.

What do you think of Amendment 58? Have you been swayed by the commercials on TV? How will you vote on it?

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jason_the_ 11-04-2008, 12:41 PM Add to the Discussion
This is effectively a tax increase. ALL tax increases are passed on to consumers. Scholarships are a noble pursuit, but use the money that taxpayers already give the government instead of finding a new way to increase our taxes.

Vote NO.

For what it's worth,

Jason

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