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Why Punish Innovation?

February 13, 2013 1 minute Read by Robert Asahina

Why load high taxes on the fastest growing industry in the country — the energy industry, which, with new technologies such as horizontal drilling, has expanded known reserves of natural gas to 25% of the world's supply, from 10%? At the 4% Growth Project conference, Bernard Weinstein pointed out that the effective tax rate for the energy sector is about 41%, while for other industries it's about 26%.


Author

Robert Asahina

Robert Asahina has been a newspaper and magazine editor and writer, a book publishing executive and editor, and a data management consultant. He was editor in chief and deputy publisher of Broadway Books, president and publisher of the adult publishing group of Golden Books, and vice president and senior editor of Simon and Schuster; deputy managing editor of The New York Sun and an editor at The New York Times Book Review, Harper's, George, and The Public Interest; and a consultant at Freddie Mac. He is the author of "Just Americans" and of numerous articles and reviews for The Wall Street Journal, Harper's, The New York Times Book Review, and elsewhere.

 

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