This money is from the mineral wealth of the land, something that is owned by the people. And up here in Alaska, mineral wealth is all you have. You cant grow crops, or make lumber, if it ain't mined it just ain't.
How do you share the mineral wealth? Do you just hand the oil over to chevron and say good luck guys? Have a nice life as billionaires? Do you tax them and build roads and schools? Well then, how much do you tax? Do you just say to the government, good luck guys, have a nice life as millionaires and throw us a school or something once and a while?
How about we let the people decide on what to do with 1% of the money taken in! Perhaps people know best what they personally need to survive in this harsh climate. So the Dividend fund came to be. It was done back in the day when people did not trust government as much as we seem to do now.
Might I ask, just how is that hopey changey thing doing down there in the lower 48? Think you might know how to spend your taxes wiser than Obama? Not interested in the mating life of three toed frogs but do want to pay your doctor bills?
In Alaska they know that true stimulus is not having the government spend every dime in everyones pockets.
Nothing personal but if Chevron spent the money to extract the oil I have no issue with them or their stockholders as billionaires.
It's a quandry...give cash or cut state budget taxation needs...I prefer the latter...I simply think handouts..to people or business are a bad idea generally.
I think Alaska started this for two reasons:
Huge Indian population that had a reasonable interest in the land their ancestors once roamed and folks figured this was a decent distribution to them...they may get additional on reservations like the Navajo and Hopi do And I think it was an incentive to bring in more workers they needed when the boom took off...it's hard to say..it's not an enormous amount of money...less than an unearned income refund
Texas, Oklahoma and Louisiana all have had major oil and gas plays and to my knowledge they never gave out annual cash to folks who lived there for the minimum year with no felonies
I agree with hosepipe though...better to have state control than federal usually...for a myriad of reasons...all of which tilt right..Good Lord for Obama and Bent One grabbed land..whew