Senator Pangelinan Says Military's Estimates of GovGuam's Revenues During Buildup are Flawed
Guam - Senator Ben Pangelinan has issued a release saying the military's estimates of GovGuam's revenues during the military buildup are flawed.
According to Pangelinan government economists and bureacrates use a simple financial ratio of general tax revenue to gross island product. The rule of thumb is GovGuam collects 10% of every new dollar invested into the economy after it multiplies through. According to the Draft Environmental Impact Statement Govguam will collect between 42% to 49% of the estimated Gross Island Product during the buildup. Because of this the senator has sent leters to several experts in the private sector, UOG, GovGuam, the Government Accountability Office and the Department of Defense asking them to provide an analysis of the revenue estimates in the DEIS.
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