Can North Dakota handle being rich?
Tax Commissioner Cory Fong could hardly restrain his joy when he reported that the oil industry will produce almost twice as much tax revenue as estimated during the last session of the Legislature. Instead of $2 billion for the current biennium, Cory now expects it will be closer to $4 billion.
The sales tax, motor vehicle registration fees and income taxes also demonstrated spectacular gains but they look like loose change compared to the oil money.
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