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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (32914)	11/1/2012 12:30:33 AM
From: koan	Read Replies (1) \| Respond to of 85487

<<According to wikipedia, AK's fund is $42B. TX has two funds, the Permanent Schools Fund and the Permanent University Fund, that total $38.3B. >> Our fund supplants state taxes. We also have a mental health lands trust. That is different. How much does the Texas fund supplant taxes? $38 billion over the last 100 years is the best they could do? And it is not a soverign wealth fund. One would think with all the oil Texas produces they should have a trillion in their soverign wealth fund. Norway has over 600 billion (another liberal country!!!) Texas can't even do that right. We pay no state taxes. Do they not pay taxes in Texas? How about North Dakota (another red state) with their new found oil wealth? Also we have two other accounts: an undistributed income account and congressional budget reserve that has billions in them. That has to be added to the permanent fund. That is money connected to the permanent fund but is not in the permanent fund. Most of it gets transferred there eventually. That money can be spent, but is only done in emergencies.