While Dan has said he believes in taxes, his issue, I believe, is singling our one industry to increase their taxes to give the money directly to another group. And to make it worse, it is the receiving group demanding that money.What is the moral principal of giving the oil and gas industry a 71.428% reduction in tax burden after decades, particularly when the leaders of the State's largest oil and gas industry (sans ONE named Continental) openly admit that a drilling CapEx decision would never be made based on the GPT. This is not a moral question as to why there should be a tax increase, it is a moral question of why they were given a huge windfall (at the expense of Education) in the first place.
And don't say the 2% is only for 36 months. That is (in present value terms) 75% of the taxable value based on the decline curves.
Please explain
I believe we should increase the GPT, the methods are horrible right now though.