Obama’s Proposed Oil and Gas Tax Hikes to Cost U.S. Economy 154,000 Jobs in 2011

From PR Newswire

White House’s new ‘stimulus’ plans would trigger loss of $341 billion in economic activity

WASHINGTON, Sept. 13 /PRNewswire-USNewswire/ — Louisiana State University Endowed Chair of Banking and nationally-renowned economist Dr. Joseph R. Mason estimates that President Obama’s proposed energy tax changes would trigger grave economic consequences. In the newly released “Regional and National Economic Impact of Repealing the Section 199 Tax Deduction and Dual-capacity Tax Credit for Oil and Gas Producers,” Dr. Mason finds the resulting fallout over the next ten years would include:

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Tagged as: Economic recovery, Jobless, oil and gas tax hike, Recession, Unemployment, unemployment rates