The PA Democrat gubernatorial candidates met last evening for their final debate. Once again, as at every past debate event, shale-related taxation fixation was on display across the board, no exceptions.
The Democrat candidates pontificate disingenuously about using our shale money for (what they call) "education funding". Here is what's really going on:
Pennsylvania is in deep doo-doo regarding funding of pensions for teachers, many of whom are already retired. The shortfall is currently in the billions of dollars and is growing daily. How will Democrats make that up?
Democrats plan to use shale money to bail out the teachers' pensions. Now mind you, PA teachers' pensions are so rich and generous that the Sultan of Brunei is envious!! The pensions need to be cut down to a reasonable level. This is not something Democrats would ever consider doing, since so many PA teachers are their supporters. A significant amount of that pension money is returned to Democrat campaign coffers to enable election of more Democrats!!
So, instead and without exception, the Democrat candidates have targeted our shale to bail out the underfunded teacher pensions. This is what they call "education funding"!!!! Vote Democrat and watch our money from shale disappear into the pockets of retired teachers as they collect the full measure of their bloated pensions at our expense.
For anyone in disbelief over the size of the PA teacher pension deficit, and other public-employee pension deficits as well, here is a reference:
I am totally against any shale tax!!!!!!!!!!!!!!!!!!!!!!!!!!!! Period. I am against the existing redistribution of wealth that Corbett installed. Facts are facts. Corbett taxed the gas industry with his well head tax. I can't vote for him or any candidate running for the Dems. I guess I'll have to vote for myself. BTW, just because I enlightened you to the fact that teacher pensions are funded 88% by employee contributions/investments and only 12% by the school district, what's your complaint that the state is paying for it.The average pension is $24,122. Wow that is really bloated. If you think that's a lot of $ then you better by a calculator the next time you cash your welfare check. LOL BTW, I am a landowner in this fight too!
let's see,el,your 12 % employer contiribution's come from the taxpayer. member contribution's come from taxpayer's paying wages. I guess that is funding from the state.
Every resident of PA. that uses natural gas would end paying more for a BTU of NG if a severance tax is enacted. First anyone receiving a royalty payment will have what ever % is put into effect deducted form their royalty payment. Second the candidates say they will tax the drilling co. ( upstream ) Upstream co. will pass the cost on to the midstream co.( Pipeline co. ) Midstream will pass the cost on to downstream co. (Utility co.) utility co. will then pass the cost on to the consumer. Taxing the gas companies sounds good in a political ad, but makes no sense!