Alaska still mismanaging PF, big surprise (credit, house, homeschool)

[Metlakatla]

Maybe Dumleavy should start a line of sneakers to raise some cash.

The board in charge of the Alaska Permanent Fund is amplifying its warnings about an impending state financial crisis.

Without action by the Legislature, there’s a small but growing chance that within three years, the Permanent Fund — source of more than half of Alaska’s general-purpose state revenue — won’t be able to pay for services and the annual Permanent Fund dividend.

https://alaskabeacon.com/2024/02/19/...endable-money/

[Northrick]

The Permanent Fund (which no longer seems so permanent) Dividends needs to go. Then eliminate the $8 a barrel tax credit for oil and, boom, Alaska's financial situation improves dramatically.


Easy-peasy, except too many people fall for the "we are going to give you a huge dividend" and if you "raise taxes on the oil companies they will leave" lies from politicians. I believe it is either people with lots of kids who get a substantial amount of money from the way the dividend is handed out and don't care about their kid's future, and people who are planning to leave Alaska soon and want to take the money and run who vote this way.


There is continual talk about a state income tax, and I wouldn't have a problem paying it, but not until the state stops giving away free money and taxes the oil companies similar to other places in the world with oil. Less than half Alaskans pay any federal income tax which a state tax would likely be based on. I have a real problem with that if they want to tax me while giving away money for nothing.

[Metlakatla]

Originally Posted by Northrick

Easy-peasy, except too many people fall for the "we are going to give you a huge dividend" and if you "raise taxes on the oil companies they will leave" lies from politicians. I believe it is either people with lots of kids who get a substantial amount of money from the way the dividend is handed out and don't care about their kid's future, and people who are planning to leave Alaska soon and want to take the money and run who vote this way.

Alaska did seem to start attracting a lot of quiverfull families at some point during the 2000s. Those with enough kids can pretty much live off their "checks," the homeschool allotment (god help us), and whatever public benefits they qualify for, especially if they supplement with cash-based income streams.

[Arktikos]

Originally Posted by Northrick

..
..There is continual talk about a state income tax, and I wouldn't have a problem paying it, but not until the state stops giving away free money and taxes the oil companies similar to other places in the world with oil. .

I'm in favor of either or both. Which one do you think is more likely? They're both hard sells with spineless politicians.

[Arktikos]

Found the following on Facebook this AM. There's an income tax bill under consideration in the legislature. It's not much, and it would probably be vetoed by our inept governor in the unlikely event it were to pass.

"There is an income tax bill being heard in the State House on Monday, that would do exactly that, actually. It would only tax those that make $200,000 per year or more (whether Alaskan residents or people who work in Alaska seasonally), and every else would just pay $20. (Yes, just $20/year.) Tomorrow we should know more about whether there will be public testimony allowed during that hearing on Monday, but theoretically the revenue from a tax on the wealthiest Alaskans and out of towners who earn income in Alaska *could* be directed to education (since the state would be doing the directing).."

[Northrick]

It starts off as "we are only taxing the rich," but then things change. The first change the state needs to make is to stop giving out money for nothing.

[RayinAK]

Originally Posted by Northrick

It starts off as "we are only taxing the rich," but then things change. The first change the state needs to make is to stop giving out money for nothing.

It is always that way. Tax the rich; do it for the children