Friday, September 11, 2009

Despite bad economy, Alaskans will be paid dividends

While most other states are cutting services and laying off workers, Alaska is preparing to send dividend checks to about 657,000 of its citizens, who have their former governor and the state constitution to thank. United Press International reports:
ANCHORAGE, Ala., Sept. 10 (UPI) -- Citizens qualified to receive dividends from Alaska's Permanent Fund will receive dividends of more than $1,300 this autumn, state officials said.

The Anchorage Daily News reported that even though the $32 billion oil profits savings account lost $2.5 billion in the last fiscal year, the five-year dividend program will temper the effect of the losses for Alaskans.


Last year, Alaskans received the largest dividend checks since the state began its program in 1982. The amount was supplemented by a $1,200 resource rebate, based on the state's oil-tax surplus and initiated by former Gov. Sarah Palin.
For increasing the size of the dividend, some of Palin's detractors have ironically branded her a socialist -- which is what many of them are, but the PDS-afflicted aren't shamed by their own hypocrisy. 

Truth is, the 49th state's constitution, which was written before Palin was even born, gives ownership of Alaska's natural resources to the people of the state to share. As governor, Palin was following the constitution.

- JP


USA_Admiral said...

Alaska sounds like an amazing place to live.

AKfaraway said...

Yes, it is, and we are very blessed to live here!