Fairer to the Mineral Industry
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Today, our taxes don't pay for the services we receive
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Mineral taxes make up shortfall -- thousands of $ per
household
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If population increases, mineral industry will be expected
to take up the slack for more households
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Hence, it is currently in the mineral industry's interest
to oppose changes that might lead to growth
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Income tax provides a means to distribute the burden of
growth between extraction industries and newly developed ones, broadening
the tax base. This occurs gradually... as the new businesses become
profitable
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With an income tax, mineral industry has a strong incentive
to promote business development in Wyoming and patronize new native
businesses, aiding their success.
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As revenue from other sources increases, more mineral
tax revenues can be placed in PWMTF against the day when easily accessible
resources are exhausted
[Note: None of this means that the mineral industry
shouldn't contribute its fair share. However, only with the Tax Swap is
there hope of striking a balance and aligning the industry's interests
with those of the rest of the state.]
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