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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (291241)11/13/2010 1:16:44 PM
From: koanRead Replies (2) of 306849
 
<<Don't citizens of alaska get some money from oil. State get money from Oil?>>

Yes, unlike Texas, Oklahoma, Louisianna and California the people of Alaska saved 25% of the oil income from oil leases on state land. They actually save 25% of all resource income from state land, now increased to 50% it has been such a successful program.

Gigantic government program-lol!

Now the income from that saved money pays for all state services (we pay no state taxes at all-nada) and if their is money left over after inflation proofing our soverign wealth fund and paying for state government, a certain amount is given to all state residence based on a five year average. Averages about $1,500 a year for every man, woman and child.

The idea behind the yearly permanent fund check is to get the people to protect the fund. They protect it with their lives-lol.

We made it impossible for anyone to ever get at the principle, which is now rising faster than our population as we now put 50% of all state resource income in the fund.

Alberta had such a fund, but the criminals finally got to it and destroyed it. We set up an impregnable defenses e.g. it takes a 3/4 vote of both hosues of the legislature to touch the permanent fund. That will never happen.
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