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(Anchorage Daily News)   Alaskan leaders say they won't pay the $5,000 owed to each resident, as it would cripple the state's ability to build bridges to nowhere and ports no one uses   ( adn.com) divider line
    More: Obvious, Public finance, Permanent Fund, United States, earnings account, United States Senate, Permanent Fund dividends, investment earnings account, Tax  
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7869 clicks; posted to Main » on 01 Mar 2018 at 11:20 AM (37 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2018-03-01 09:36:37 AM  
There's a certain kind of politician that hates the idea of government having any money set aside and would prefer being in deficit at all times.
 
2018-03-01 10:14:23 AM  
This year's proposed state spending is $4.6 billion, with just $2.1 billion in revenue to pay for it

That's not good.
 
2018-03-01 10:41:59 AM  
Taking that out now, von Imhof argued, would amount to "instant gratification"

And everyone know *delayed* gratification is MUCH hotter.
 
2018-03-01 10:42:21 AM  

guestguy: Taking that out now, von Imhof argued, would amount to "instant gratification"

And everyone knows *delayed* gratification is MUCH hotter.


FTFM
 
2018-03-01 10:59:07 AM  
img.fark.netView Full Size
 
2018-03-01 11:24:29 AM  
Greedy fkckers. They get a check every year usually ranging from $1,000 to 1,200, to 1,500 to 2,000.

The rest of us....
img.fark.netView Full Size
 
2018-03-01 11:24:57 AM  
FTFA Oil taxes and royalties once paid for the vast majority of Alaska's budget. But for the past four years, the state has faced a massive deficit stemming from a crash in oil prices and the longstanding decline in production from the North Slope fields.

Perhaps you shouldn't base your entire budget on a dying industry and try a little diversification.

/that would require ...you know ... planning so that's not going to happen
 
2018-03-01 11:26:05 AM  
I'm pretty sure that the Bridge to Nowhere was funded with federal funds (which Alaska is a net taker).
 
2018-03-01 11:26:37 AM  
This just in: What does Alaska and Venezuela have in common?

 
2018-03-01 11:27:42 AM  

edmo: There's a certain kind of politician that hates the idea of government having any money set aside and would prefer being in deficit at all times.


Selling government debt is big business and there are many investors that like to buy state bonds.
 
2018-03-01 11:28:07 AM  
It's always great when politicians steal from the taxpayers but can't afford to pay the money back.

"it's not in the budget!"

What right did they have to take it in the first place?
 
2018-03-01 11:28:35 AM  

edmo: There's a certain kind of politician that hates the idea of government having any money set aside and would prefer being in deficit at all times.


Republicans?
 
2018-03-01 11:29:20 AM  
Hey, don't tax the bread and circuses!
 
2018-03-01 11:29:44 AM  
Hey Alaska, get off of the government teat, ya bums.
 
2018-03-01 11:30:22 AM  

FormlessOne: This just in: What does Alaska and Venezuela have in common?


Bristol Palin introduced a new strain of crotch rot to both?
 
2018-03-01 11:31:31 AM  
WE'RE RICH! ...until we're not.
 
2018-03-01 11:34:26 AM  
A state with no state income tax or state sales tax (though a number of cities/towns do have one).
 
2018-03-01 11:35:04 AM  

gingerjet: FTFA Oil taxes and royalties once paid for the vast majority of Alaska's budget. But for the past four years, the state has faced a massive deficit stemming from a crash in oil prices and the longstanding decline in production from the North Slope fields.

Perhaps you shouldn't base your entire budget on a dying industry and try a little diversification.

/that would require ...you know ... planning so that's not going to happen


And what would they diversify on?
 
2018-03-01 11:35:38 AM  
What would Jesus Parker Schnabel do?
 
2018-03-01 11:36:24 AM  

FormlessOne: This just in: What does Alaska and Venezuela have in common?


From 2006 to 2009, they were both led by self-aggrandizing morons?
 
2018-03-01 11:37:28 AM  
That'll show 'em what happens when they vote in "Democrats, by which I mean hard right Republicans."  They should never do that again, those communist fools.
 
2018-03-01 11:38:04 AM  

redmid17: gingerjet: FTFA Oil taxes and royalties once paid for the vast majority of Alaska's budget. But for the past four years, the state has faced a massive deficit stemming from a crash in oil prices and the longstanding decline in production from the North Slope fields.

Perhaps you shouldn't base your entire budget on a dying industry and try a little diversification.

/that would require ...you know ... planning so that's not going to happen

And what would they diversify on?


Salmon?
 
2018-03-01 11:38:32 AM  

edmo: There's a certain kind of politician that hates the idea of government having any money set aside and would prefer being in deficit at all times.


Did you not read the article?

While the attempt to make the checks $5k is unreasonable they have been underpaying the dividend checks in order to prop up their budget.  It's so much easier to raid reserves than actually make revenue match spending.
 
2018-03-01 11:43:25 AM  
I'd be okay with this. If Juneau can't continue dividend payments at historical rates, the payments will stop when the money runs out. Only open question is when.

In fact, the dividends themselves were arguably a bad idea in the first place. Norway's Oil Fund was specifically designed to continue to pay for government services out of the proceeds of oil revenues when the oil ran out---it never paid dividends to Norwegian citizens directly, allowing Oslo to avoid this conversation entirely.
 
2018-03-01 11:46:42 AM  

FormlessOne: This just in: What does Alaska and Venezuela have in common?


THEY ARE BOTH MENTIONED IN A STUPID POST BY Formless One?
 
2018-03-01 11:52:11 AM  
Just don't call it socialism. It's freedom cash!
 
2018-03-01 11:53:18 AM  

MikeyFuccon: I'd be okay with this. If Juneau can't continue dividend payments at historical rates, the payments will stop when the money runs out. Only open question is when.

In fact, the dividends themselves were arguably a bad idea in the first place. Norway's Oil Fund was specifically designed to continue to pay for government services out of the proceeds of oil revenues when the oil ran out---it never paid dividends to Norwegian citizens directly, allowing Oslo to avoid this conversation entirely.


I read a story the other day that said that fund just reached $200,000 for each citizen, I believe.
 
2018-03-01 11:55:55 AM  

seelorq: Just don't call it socialism. It's freedom cash!


Paying cash out to citizens really isn't socialism though. The citizens of Alaska don't own the means of producing or distributing the oil.
 
2018-03-01 11:56:02 AM  
All those strong independent  mericans won't be getting their welfare checks.
 
2018-03-01 11:59:16 AM  

Soulless Carbon Rod: FormlessOne: This just in: What does Alaska and Venezuela have in common?

THEY ARE BOTH MENTIONED IN A STUPID POST BY Formless One?


...did you self-smart that one, too?
 
2018-03-01 11:59:32 AM  
MikeyFuccon:
In fact, the dividends themselves were arguably a bad idea in the first place. Norway's Oil Fund was specifically designed to continue to pay for government services out of the proceeds of oil revenues when the oil ran out---it never paid dividends to Norwegian citizens directly, allowing Oslo to avoid this conversation entirely.

Alaska could have done this, in fact it was proposed back when they set up the Permanent Fund. They had about an equal amount of cash from oil rights sales set aside for government and citizens. The citizens' portion was carefully invested and managed so it could be sustainable, and the government's portion was immediately blown on big-ticket stuff. Now the state is trying to raid the citizens' portion because they were too greedy and shortsighted to manage theirs effectively.
 
2018-03-01 11:59:38 AM  
There's gonna be a lot of pissed off dope dealers in AK.
 
2018-03-01 12:00:13 PM  

gingerjet: FTFA Oil taxes and royalties once paid for the vast majority of Alaska's budget. But for the past four years, the state has faced a massive deficit stemming from a crash in oil prices and the longstanding decline in production from the North Slope fields.

Perhaps you shouldn't base your entire budget on a dying industry and try a little diversification.

/that would require ...you know ... planning so that's not going to happen


To be fair, oil is like the only thing Alaska has going for it.  Diversification makes sense in most economies, but when you're talking about places as inhospitable as most of Alaska you're basically stuck with natural resources motivating people to live there.

If there's nothing about an industry tying it directly to the land, it's going to go where people aren't likely to freeze their balls off if they don't wear the right clothing on the wrong day.
 
2018-03-01 12:03:00 PM  

redmid17: And what would they diversify on?


Ice.

/tho that might also be a dying industry. even in Alaska
 
2018-03-01 12:03:59 PM  
This year's proposed state spending is $4.6 billion, with just $2.1 billion in revenue to pay for it

Well there's your problem.
 
2018-03-01 12:04:22 PM  

Tabletop: seelorq: Just don't call it socialism. It's freedom cash!

Paying cash out to citizens really isn't socialism though. The citizens of Alaska don't own the means of producing or distributing the oil.


Until you want to give poor people money, according to a large portion of the public and the people controlling the government.
 
2018-03-01 12:04:29 PM  

FormlessOne: Soulless Carbon Rod: FormlessOne: This just in: What does Alaska and Venezuela have in common?

THEY ARE BOTH MENTIONED IN A STUPID POST BY Formless One?

...did you self-smart that one, too?


No. But I otherfunnied this post of yours right now.

And there's nothing you can do about it!
 
2018-03-01 12:04:43 PM  

JammerJim: redmid17: And what would they diversify on?

Ice.

/tho that might also be a dying industry. even in Alaska


Global warming is their best long term bet.
 
2018-03-01 12:09:55 PM  
img.fark.netView Full Size
 
2018-03-01 12:11:27 PM  

electricjebus: To be fair, oil is like the only thing Alaska has going for it.

By design.
 
2018-03-01 12:16:50 PM  

Tabletop: seelorq: Just don't call it socialism. It's freedom cash!

Paying cash out to citizens really isn't socialism though. The citizens of Alaska don't own the means of producing or distributing the oil.


so·cial·ism
ˈsōSHəˌlizəm/
noun
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

Seems to me one could argue that one a bit.
 
2018-03-01 12:17:44 PM  
Maybe they should just go rouge and be the tough independent muricans we all know they are.
 
2018-03-01 12:18:24 PM  

Tabletop: seelorq: Just don't call it socialism. It's freedom cash!

Paying cash out to citizens really isn't socialism though. The citizens of Alaska don't own the means of producing or distributing the oil.


A cogent, informative comment? on MY Fark?

/ it's more likely than you'd think
 
2018-03-01 12:20:35 PM  

dywed88: Tabletop: seelorq: Just don't call it socialism. It's freedom cash!

Paying cash out to citizens really isn't socialism though. The citizens of Alaska don't own the means of producing or distributing the oil.

Until you want to give poor people money, according to a large portion of the public and the people controlling the government.


 So because they're wrong... what? Everyone else should join in?

Sharing profits derived from natural resources directly with citizens in the form of cash isn't a hallmark or defining characteristic of any kind of economic system.
 
2018-03-01 12:23:17 PM  

edmo: There's a certain kind of politician that hates the idea of government having any money set aside and would prefer being in deficit at all times.


Republicans were howling when Bill Clinton was paying down the debt. "It's YORE money!! The gummint has too much of YORE money!!"

/ And the press never has stopped parroting their claims to be "deficit hawks" and "fiscal conservatives"
 
2018-03-01 12:23:27 PM  

Marcus Aurelius: This year's proposed state spending is $4.6 billion, with just $2.1 billion in revenue to pay for it

That's not good.


Tax cuts... If you are going to go Kansas, might as well burn it all to the ground and go full Kansas and hope the other states pay to get you out of trouble.
 
2018-03-01 12:24:00 PM  

Lumber Jack Off: edmo: There's a certain kind of politician that hates the idea of government having any money set aside and would prefer being in deficit at all times.

Republicans?


And Democrats.
 
2018-03-01 12:24:03 PM  
This is great news for my 129 multiple personalities, all who coincidentally just happen to be currently residing (and long-term residents BTW frontiersmen and women, one and all)  in different Alaskan Post Office Boxes.
 
2018-03-01 12:26:29 PM  

FormlessOne: This just in: What does Alaska and Venezuela have in common?


Both are being incorrectly referenced by a plural auxiliary verb?
 
2018-03-01 12:27:36 PM  

dragonchild: electricjebus: To be fair, oil is like the only thing Alaska has going for it.
By design.


Despite my username, I'm not a believer.
 
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