A Milken Institute study focused on the Chevron Corporation shows the effect on both job creation and tax revenue when a business runs successfully. Milken economists measured the ripple effect of doing business using the Chevron Corporation as an example. The study showed jobs were created not only by the company, but also jobs that came about to service both the company and its employees. With the legislature looking at a tax on oil, they should consider the possibilities of a reverse ripple effect: tax increases resulting in the reduction of jobs at Chevron and those that service the company.
Click Here to read my full commentary on the Milken Institute report that appears in the Sacramento Bee today.