It's not a recession until your neighbor loses his job and house. It's not a depression until you lose your job and house. 
Alaska's oil economy will ebb and flow with oil prices and throughput through our petroleum aorta, the Trans-Alaska Pipeline. I get so steamed at the facts of life. 
I hate the truth. I like taxes as long as they don't affect me, but my view of the world is quite 907 naïve. "Don't tax you. Don't tax me. Tax the guy behind the tree." 
All regulatory fees and fines, production taxes, sales taxes and income taxes eventually show up at the gas pump, grocery store and the IRS. The poor don't pay taxes and the rich only pay capital gains. Workers pay. 
My fellow elders who have wonderful State of Alaska Tier I pensions can be driven from Alaska with increases in taxes that exceed the cost of living bonuses they receive: 10% to stay instate. 
If we hike taxes on a highly mobile and wealthy population segment, they and their medical portfolios will simply leave.
Not good.