It is starting to rain

Hey folks it is starting to rain.

According to Wenlin Liu, chief economist for the state of Wyoming, “mineral severance tax revenue in the state is at a 14 year low. Job losses from 2015 to 2016 were about 8,700. The largest factor is the mineral extraction industry.”

According to an earlier story in the Independent Record, “Hot Springs County oil and gas sales volume has remained steady from 2015 to 2016, however, the taxable value (Ad Valorem) of both oil and gas has gone down significantly.”

For the past 35 years oil and gas have been paying 72 to 92 percent of our taxes, for an average of 76 percent, thereby keeping our taxes low. Now those taxable values are dropping about 40 to 50 percent and some liberals are wanting to raise taxes.

History proves when taxes are low, the economy improves and incomes rise. Current tax policies are hurting tax payers and job creators; yet, liberals continue to call for higher taxes.