Slashdot Mirror


Alaska: The Only US State Where Everyone Gets Free Money

merbs writes: Alaska’s Permanent Fund was established in 1976, in the midst of a black gold rush; the massive Trans-Alaska pipeline was in the process of being built, and the state had reaped $900 million in revenue from the sale of drilling leases in Prudhoe Bay, the largest oil field in North America, in a matter of years. In a matter of a few more, it’d spent it. Alaskans soon recognized that their enormous oil reserves were nonetheless limited, so, with a kind of longterm forward-thinking rarely seen in politics today, they voted to add an amendment to the state constitution to establish a fund that would protect a portion of all incoming oil wealth for future generations. In 2014, the net income of the fund was $6.8 billion dollars and the dividend doled out $1,884 to 640,000 citizens, despite a decline in oil revenues that year.

9 of 284 comments (clear)

  1. But then you have to live in Alaska by Anonymous Coward · · Score: 3, Insightful

    And Alaska living isn't easy or cheap.

  2. Not free money by Alomex · · Score: 5, Insightful

    They are royalties for resources held in the ground which are government property, not free money. Who else has a better claim to it, than the owners of the land, i.e., the people.

    We paid for it when purchased under President Johnson, at the behest of Seward.

    1. Re:Not free money by Punchcardz · · Score: 4, Insightful

      In that case the residents of the other 49 states would like to talk to you about their cut.

  3. Re:Comment by Blaskowicz · · Score: 4, Insightful

    In communism you have money, but nothing to buy with it on the shelves. In capitalism the shelves are always choke full but you don't have money.

  4. /. Titles In All Caps Makes Them Hard To Read by swell · · Score: 2, Insightful

    How can the reader tell when a word is a Proper Noun, Trademarked, etc; or when it is an Ordinary Word? I've complained about this before and some have claimed that the slashdot way is always used by journalists. Well that's not true and here is proof. Slashdot's way is stupid and unconscionable. Look at this summary extracted from today's headlines at Google news. Note the familiar publisher's names and how they handle capitalization in titles:

    Dozens of coalition troops die in Houthi missile strike in Yemen
    CNN
    Finnish PM's offer to migrants: Take my spare house
    STLtoday.com
    Protests Continue in Southern Syrian City
    Voice of America
    47 dead as rebels battle IS in north Syria: monitor
    Financial Express
    Vast, stubborn Fresno wildfire expected to rage through long weekend
    Los Angeles Times
    What have Bush, Clinton learned from voters attraction to the outsiders?
    Washington Post
    Police pay respects to slain Texas lawman
    Brownsville Herald
    Plainclothes cops keep eye out for Times Square hustlers
    seattlepi.com
    No more union coal mines remain in Kentucky, home of the deadly battles of ...
    Fox Business
    Jobless rate falls to 5.1%, a 7-year low
    NWAOnline
    New England's ports, long past their prime, seek comeback with niches in ...
    Fox Business
    Advisory Group Says BofA Should Split CEO and Chairman Roles
    New York Times
    Apple will show a lot more than iPhones at its September event
    Mashable
    Google may return to China with Android app shop: report
    Livemint
    Uber Expires Share Your ETA Links After 48 Hours
    I4U News
    Destiny composer Marty O'Donnell wins court case against Bungie
    Load The Game
    Farthest-ever 3.2-billion-years old galaxy detected
    The Indian Express
    Scientists hunt for clues in mysterious deaths of 60000 antelopes in four days
    Christian Science Monitor
    Predator population grows slowly in crowded environment: Study
    NYC Today
    University of Kansas Researchers Discover Quark-Gluon Plasma
    NYC Today
    Legionnaires' disease outbreaks in three states, 8 people died in Illinois
    The Standard Daily
    Scientists working on making a gadget to cure seasickness
    Nature World Report
    CDC is funding to help state health department to eradicate painkiller abuse
    The Standard Daily
    Take Aspirin to boost your immunotherapy treatment during cancer
    PPP Focus.com

    --
    ...omphaloskepsis often...
  5. Re:what a stupid headline by Intron · · Score: 3, Insightful

    Don't forget Wall St. We have been artificially holding interest rates at 0 for 7 years now just to give an enormous boost to the financial industries. That far exceeds the dividend to Alaskans. Nobody is making any noise about that.

    --
    Intron: the portion of DNA which expresses nothing useful.
  6. Re:My neighbors get free money every month by dryeo · · Score: 4, Insightful

    Where the hell do you live that welfare/disability pays enough to buy endless beer and meth? I know a couple of people on disability and they have a fuck of a time just eating satisfactorily, little well being able to buy more then a 6 pack of beer once a month.
    There's also one fuck of a lot of homeless people around and they sure don't look like they're having a great life, especially when the weather turns to shit.

    --
    https://en.wikipedia.org/wiki/Inverted_totalitarianism
  7. Re:Comment by Ol+Olsoc · · Score: 4, Insightful

    Socialism means that the factories (means of production) belong to the state. This is not the case in Denmark, so your use of the word socialism is ignorant and incorrect.

    I'm an American, and I find that the Trotskyites here call anything they don't like - "socialism". It's...... complex, some how.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  8. Re:Comment by Kjella · · Score: 4, Insightful

    I'm an American, and I find that the Trotskyites here call anything they don't like - "socialism". It's...... complex, some how.

    When Americans say socialism, they usually mean taxes. Typically they disregard how society indirectly provides benefits like a skilled labor pool, infrastructure and other foundations for modern civilization that enabled their company to make millions in profit. They only narrowly look at the government services they've directly consumed and want their tax bill to match. In fact they might actually argue their tax rate should be lower because a millionaire is still just one man and doesn't consume services in proportion to his income, so they'd rather have a small government and pay themselves. "Socialists" are everybody who want more taxes, progressive taxes, inheritance tax, wealth tax, taxes for welfare, taxes for universal services, taxes for public services or really any form of tax that would redistribute wealth from the rich for the common good. Basically any accumulation of wealth is their own and society has no right to any of it, though those who say that typically want protection of private property and contracts, police, courts and all the other bits that happen to be necessary to keep a large personal fortune. I'm sure it's a coincidence.

    --
    Live today, because you never know what tomorrow brings