A steady stream of state government revenue instead of relying exclusively on volatile oil markets, and $1,000 dividends for Alaskans: that's what a bill approved Wednesday by the Alaska Senate would guarantee.
Senate Bill 26 passed the GOP-controlled Senate 12 to 8 and strongly resembles the Permanent Fund restructure bill that cleared the Senate last year with the endorsement of Gov. Bill Walker but failed to pass the House.
Under the new plan, 5.25 percent of the $57.2 billion fund -- as calculated over a five-year period of time -- would be drawn annually from the earnings reserve account.
Three quarters of the money drawn out would be funneled to government, putting a significantly bigger dent in the $3 billion budget deficit than the proposals to implement an income tax and cut government spending for a third year in a row.
The remainder of the draw would go to pay dividends, which would be locked at $1,000 for three years and are expected to grow slightly thereafter.
I can't even get upset about this.
I have known this day was coming since 1982 when I received my first PFD check. Which by the way was ALSO for $1,000.
However I am in the minority in my lack of anger over this, and I well realize that the majority of my fellow Alaskans are going to want blood and that the politicians who proposed this bill, and voted on it, have seriously endangered their prospects for reelection.
On a positive note perhaps it will convince some of the parasites up here to move on to greener pastures and leave the state to the REAL Alaskans.
For a non-Alaskan, could you please clarify what distinguishes the parasites from the real Alaskans?
ReplyDeleteReal Alaskans love Alaska, harsh winters and all.
DeleteParasites come up here because we have no state income tax and once a year there is free money.
@Gryphen 4:44 AM
DeleteThere are other states that don't have state income taxes. And the free money is not worth the weather there.
So anyone who would go all the way to Alaska to live, for the two reason you mentioned are not right in the head.
I highly doubt peopl move to an expensive place for one annual check. What's your opinion on the hundreds of Alaskans who vacation every chance they get? I travel to Fairbanks and anchorage for work and the number of college aged kids on the planes headed to (insert tropical island) always makes me wonder how so many afford that. Every trip there's at least a dozen.
Delete@6:01
Deleteyeah, states like Tennessee. Let's compare the visual beauty of both states, hmmmmm.
TN is just as red as Alaska. Yeah, no, I'd much rather dig into an alaskan winter where you can at least have some damn natural beauty(those mountains, by god!). Plus, it looks like the winters aren't gonna be consistently as cold. Look up this latest Iditarod run if you don't believe me. Last year's saw snow being trucked and trained in. This year, the course had to be moved even further north to find snow.
You can 'enjoy' some of the shittiest cold snaps imaginable in TN, complete with little to no snow, but loads of sleet. It's greaaaaat for trees, crops, driving safely, animals left out by cruel rednex, etc.
2:54 AM Wasillabillies who pop out bastard babies every 9 months burdening the Free Native Healthcare system, unemployed snow machine riding husbands of ex-failed governors, unemployed, women beating, drug addicted National Guard members who were forced into service to avoid jail, and an ex-failed governor who lives off of OPM.
Delete"On a positive note perhaps it will convince some of the parasites up here to move on to greener pastures and leave the state to the REAL Alaskans."
DeleteThat is funny Gryph, sounds like you DON'T like immigrants, thought you were pro immigration. You sort of sound like the REAL Americans people.
Guess it is just not in your own backyard, hell with even your own citizens apparently.
Is that the best you've got candy ass?
DeleteNo I like immigrants just fine.
In fact I think the Pacific Islanders, Hmong, and Koreans have been a wonderful addition to our mostly white population.
It is those from the Southern United States that have always rubbed me the wrong way, with their fundamentalist religious beliefs and rabid Right Wing politics.
Those were the ones who came up for the oil money, and then spent all of their time bitching about the weather.
I am so with you Gryph. Alaska was an entirely different place before the oil patch Southern fundies, and a lot of them don’t even live here, they fly up from the Lower 48 access their own terminal at the airport in Anchorage (except when they make their way to the boardroom where they squirrel themselves into FOX News and bitch and moan about the weather and “libruls” yes, we Alaskans hear these conversations!) It rubs me the wrong way absolutely. I am all for an income tax, let’s tax out of staters who work here twice the amount of Alaskans.
DeleteHypocrite.
DeleteThe citizens get paid from oil?
ReplyDeleteIsn't that SOCIALISM?
The STATE owns the oil production?
Isn't that communism?
I though Alaska was a Red State?
I was thinking the same thing. The pfd sounds like a guaranteed minimum wage.
DeleteGosh isn't that "free money" those republicans keep telling us all those liberals are taking?
ReplyDeleteSo how come AK keeps voting rethug?
Why does ANYONE keep voting rethug?
DeleteIt's always amused me the the people most against health care and 'entitlements,' are thrilled to take a free check from oil companies and receive native health care.
ReplyDeleteGryphen - Can you comment on whether any parents take the money and invest it for their kids so that when they are 18 they have a nice college fund? Or is it used for snowmobiles and vacations It seems like a super way to at least get the kids started in college savings.
ReplyDeleteWell we have all kinds of parents obviously.
DeleteSome never touch their kid's PFDs, while others will make huge purchases each year by combining all that their household receives.
That's something no one can judge. If a family makes a decision that's their prerogative. Alaska is among the states where one can make triple the money a college grad would make. My cousin works on the slope. $140k. Was forced to dropout 1 week before graduation due to a messed up situation. We truly live in a time where college means little. The debt often isn't worth it.
DeleteOur son just turned 18, we just gave him a ~$30,000 check from all his PFDs we saved. Some of us really do it
DeleteI so wish we could save the PFD money for our kids, unfortunately we rely on the money to pay for things like filling our oil tank, house repairs, putting a little away for emergencies.. it depends on the families situation.
DeleteOh fuck off Alicia. NO ONE drops out a week before graduation unless they were failing everything. A "messed up" situation would be delt with by administration and worked out. No one throws away 4 years a week before graduation. Ya know why? A WEEK before graduation, all classwork is done hon.
DeleteSince this is a handout and free money, why is sarah not screaming? Selling off you soul and state to con artist is not American. Free healthcare, Free oil money, Free pac money, Free media, Free Free Free. Alaska? time to join the rest of the USA and stop the nonsense AIP and protecting crooks and liars.
ReplyDeleteHint. Don't allow riggers, Russians nor cons to rule the usa state of Alaska another day.
Sarah didn't even take it for a few years despite living there More than the allotted time. Maybe during filing process she and others who didn't weren't in the state at the time who knows. At least she's not greedy. I know several random people who collect without living there more than a month.
Delete$arah not greedy? Oh COME ON.
DeleteTrolls are up early today!
@6:51 AM Hi Chubby, are you still mooching off your LIBERAL parents?
Deletepg 3. Blue scarf, is that you, Alicia? Where's your date?
http://www.richard-t-hull.com/publications/hull_70th_bday_bk.pdf
Also, the PFD is available to military who live in the state for the required time (1.5 years). When they leave they have the option every year to sign a form claiming they plan to return to Alaska. How many of these forms are signed in the affirmative when there is no intention of doing so?
Delete12:27pm
DeleteThere is a group of auditors that was hired by Governor Walker last year to audit each and every PFD application for fraud and those military folks that tried to bend the rules are many that were found to be in fraudulent application for the PFD.
Even though the military have so many benefits it's always been a sad part of life here in AK that they try to take advantage of the PFD but those days are over for them now and they can now just hopefully find a way to get by on all the massive federal benefits that they are already allowed (cheap housing cheap food free insurance etc...)without trying to scam our PFD.
The "real Alaskans" are Iñupiat, Yupik, Aleut, Eyak and so on, right?
ReplyDeleteInteresting that they do this NOW after a HUGE oil spot was discovered? Guess they want to keep the money. Gee why does that sound familiar. Cough.
ReplyDeleteGee. That seems a bit like Socialism with some guaranteed income thrown in.
ReplyDeleteWhat does Alaska think they are? Finland? (Finland which is also #1 in education in the world.)
Trump will have to go a loooooong way to make America greater than Finland. They have better health care too.
The first dividend was $1000 but it was for three years because of the court challenge by the Zobels of the original plan to pay each person who qualified $50 per year of residence. The original plan was scrapped after being found to be unconstitutional and the current plan that paid each resident the same amount was adopted. The original plan was intended to reward Alaska citizens for the length of time they had spent in the state.
ReplyDeleteSo originally Alaska was sort of bribing people to stay there. Interesting. Very different than Gryphen's take.
DeleteI'm 50 and have lived in Alaska for 30 years and have never considered the PFD as anything but either a bonus bit of "mad money" or a "dammit it just means I owe more Federal taxes".
ReplyDeleteThe best thing that's ever happened with the PFD is the "Pick Click and Give" program where we can get rid of up to 50% of it for charitable giving, both offsetting our tax burden and helping programs such as public TV and radio that are always at threat of being defunded Federally.
This year I gave 500 to Alaska Public Radio Network thru Pick Click and Give and the other 500 of that income was donated to our local food bank.
Except for the ability to have more money to give away I couldn't care less if the PFD went away completely, although I'd hate to see our right wing legislature waste it all on a budget that they can't ever balance