Letters to the Editor
Raising taxes on energy will slow down economy
With the government temporarily out of business, legislators aren’t talking much about reforming the tax code. But when they do, I hope they and the president will be more realistic about raising taxes on an industry so tied to economic growth and job creation. The industry I am referring to is the energy industry.
Although the president and Congress are facing a government shutdown and other big policy issues now, there are those — the president included — who still think raising taxes on oil and natural gas businesses is a good way to generate revenue. Don’t believe it. Any revenue gained by increasing taxes on the energy industry will be lost in an economic slowdown as fuel-reliant businesses draw back from investment and growth.