Sarah Palin An Economic Savant
Palin Said Mortage Giants Are ‘Too Expensive To The Taxpayers.’ Speaking in Colorado Springs, CO, Palin said that Fannie Mae and Freddie Mac had “gotten too big and too expensive to the taxpayers.” The companies, however, aren’t taxpayer funded. [McClatchy News, 9/6/08]
Palin Left Wasilla $20 Million In Debt. As mayor of Wasilla, Palin cut taxes while simultaneously expanding the town’s operating budget by almost $2 million. She ended her term in 2002 with Wasilla $20 million in debt. [Anchorage Daily News 10/23/06; the Politico, 8/29]
Palin Instituted A Windfall Profits Tax On Oil Companies. In 2007, Palin raised taxes on oil company profits by $1.5 billion a year, enabling Alaska to double its oil revenue. However, in 2008 she said, “Windfall profits taxes alone prevent additional investment in domestic production.” [Bloomberg, 3/8; Seattle Times, 8/10; Governor's Office Press Release]
