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Politics : Foreign Affairs Discussion Group
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To: KLP who wrote (81705)3/13/2003 12:38:38 PM
From: Jacob Snyder  Read Replies (1) of 281500
 
<How much money does every citizen of Alaska receive, no matter their age, for oil right now?>

I don't know the exact number. The State government is funded entirely out of royalties paid by the oil companies, so we have no State income tax or sales tax. And a lot of local government, especially in theBush, is funded by State grants. But unless ANWR is opened up, that money will continue declining, as existing fields are mature.

Then there is the Permanent Fund. Every Alaskan gets a check for $1000-$2000 each year, paid as a dividend from investments originally funded by oil revenues. I don't know of any other State or nation, that has ever had the self-discipline to save and invest, rather than immediately spend, any large windfall revenues from any source, in the way Alaska has.
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