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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Neil H who wrote (91708)	3/29/2011 11:08:41 AM
From: koan	Read Replies (1) \| Respond to of 149317

Basically, that is correct. The fund now has closer to 50 billion. 40 billion in the fund and another 7 to 10 billion in two side accounte: "undistributed income account and constitutional reserve account. The fight for the permanent fund was waged by Jay Hammond, a liberal poet Republican governor in the mold of Lincoln who lived in Naknek with his Yupick wife, democrat Fran Ullmer (superwoman we call her) who was his side kick and the "ad hoc democrats"a bunch of hippie democrats who gained control of the house. It was a blood in the streets fight between the dems and the Republicana's and oil companies who opposed it. We won. The oil companies didn't want it becaseu they were worried they could steal as much money that way and the republcians have always carried their water. Right now our Tea Party republican governor wants to give two billion a year in tax cuts to the oil comanies. The folks who set it up did everything perfectly: put it in the constituion requiring 75% vote to touch the principle (never happen), no investment in Alaska (keeps the criminals away who would steal it), inflation proof it every year first thing and diversify it. The permanent fund dividend was to provide support for the fund from the public. Dividends are determined on a 5 year avererage and were about $1,200 last year. Today the fund contributions are increased from 25% to 50% of all natural resources on state property. The fund pays for all our social services (no taxes) and as such our state is in better shape finacially than any state in the country and our social systems remain intact. Abush rat governor marrried to an Eskimo, a female warrior and a bunch of highly educated hippies set the program up fighting a rear guard action agaisnt the oil companies and their paid for right wing politicans. Nothing ever changes. << Koan - I am interested in knowing about Alaskas program that shares revenue with the residents. How is it done? ie A certain % of oil revenue / by # of state residents? Approx how much did each resident get last year - Is the figure somewhat consistant or is it highly variabl? Is this the answer to my queries? en.wikipedia.org Thanks