Isn't it true that every Alaskan gets money from oil companies?

[ColbertWatcher]

Doesn't that amount to a conflict of interest for the GOP ticket when discussing drilling in ANWR?

Does anyone know when that pay-off started? How the pay-off amount is determined? Does any other state pay-off citizens for oil drilling?

[BlooInBloo]

1. Dunno who it's from specifically, but yeah.

[Junkdrawer]

2. I read $2,100 a year plus $1,200 for fuel increases...n/t

[Muttocracy]

3. yes, they do, and it's thousands. she's had an easy budget to manage with a huge surplus. nt

[ColbertWatcher]

4. So, how would Alaska benefit from the continuation of the Bush policies? n/t

[sandnsea]

5. Massively, but since ANWR is a national refuge

then we should propose the revenue is shared nationally. Then you'd get some honest opinions from Alaskans. And the money amount changes depending on revenue.

[tulsakatz]

6. I don't know the specifics but......

...I heard they get money and I believe the figure I heard was over $1000. And not only does the head of the family get that amount but they also get the same amount for every member of the family, even kids!

Not only is that a conflict of interest but Palin's husband also works for BP!!

Now if you know that you and every family in the state gets that amount of money for......basically doing nothing and if your husband works for an oil company, why would you not want to do more drilling?

[elleng]

7. Not exactly. Some facts:

"Since 1982, the Permanent Fund Dividend (PFD) program (a saving account derived from oil revenues during good economic times to help them through the bad times) has provided every Alaskan resident with a share of oil income that averages $736 per year."

"The Alaska Permanent Fund is a constitutionally established fund, managed by a semi-independent corporation, established by Alaska in 1976. Shortly after the oil from Alaska’s North Slope began flowing to market through the Trans-Alaska Pipeline System, the Permanent Fund was created by an amendment to the constitution of the U.S. state of Alaska to be an investment for at least 25% of proceeds from some minerals sale or royalties. The Fund does not include either property taxes on oil company property nor income tax from oil corporations, so the minimum 25% deposit is closer to 11% if those sources were also considered. The Alaska Permanent Fund sets aside a certain share of oil revenues to continue benefiting current and all future generations of Alaskans." >>>

http://en.wikipedia.org/wiki/Alaska_Permanent_Fund

[ColbertWatcher]

10. "constitutionally established fund" Alaska constitution.

So, it's a local thing, Does any other state pay-off citizens for oil drilling?

Alaska is not the only state with drilling, why don't the other states do it, too?

[Cleita]

8. Yes.

When I was up in Alaska last year they said this. They said they got a check for it and they apologized for the fact that it sounded socialistic (horrors) but they justified it as the fact that it was their land and should share in the wealth. (disconnect). Then they went on to a bit of a screed of how they were going to divest themselves of the need of help from federal funds with this. I would have liked to have stayed and argued with them but my time was up and I had to get back to the ship.

[ColbertWatcher]

9. They admit it is somewhat "socialistic" (lol) but ...

... believe everyone should share because they all share the land.

Disconnect indeed!

[Bandit]

16. Well you spoke with some very uninformed Alaskans

In 1976 Alaskans created a Savings Account with Oil Royalties. They named that Savings account "The Perminent Fund" in that it could not be used for any purpose without the explicit consent of the people. That fund is used to make investments in many things such as stocks and bonds and currencies. It also draws a sizable interest. Fifty percent of all these earnings go directly back into the fund to grow it. The other fifty percent of the earnings get divided between State budget and dividends to the owners of the Fund ie. every single Alaskan. So although the fund was created in the first place nearly thirty years ago it is mainly growing on it's own earnings. It is valued at about forty billion dollars now and every year each resident of alaska gets 25% of the interest earned from this amount. It is actually Capitalistic in almost every form..The state uses revenues received directly from oil for operating the state so there is no state income or sales tax. Pretty good system if you can convince your state to follow suit.

[Cleita]

17. Maybe they weren't good at explaining themselves, but

what I want to know is what is this big desire not to take federal money? Isn't that the reason they voted for statehood to begin with.

[Zomby Woof]

11. Alaska Permanent Fund Dividend

It's also taxable income declared on the federal return. If you do a 1040-EZ or 1040A, you actually report it on the Unemployment Income line (it has its own line on the 1040). Alaskans get subsidized with so much federal pork as it is (the supreme irony and/or hypocrisy of red states is that they are the largest critics of Big Bad Government, but also the largest recipients of its largesse), I am damn glad it's taxable income. They need to pay something of their fair share for all of the tax money they get from the rest of us.

[ColbertWatcher]

13. "tax money they get from the rest of us"

I thought the oil companies paid it to them?

But, from your response, it sounds like we're paying them!

Where does the money come from?

[Zomby Woof]

15. The oil companies pay the dividend

What I meant was, the state as a whole gets huge amounts of federal tax dollars, and so I think it is completely justified the federal govt taxes the dividend. That way the Alaskans are at least partly paying their own way. Many of the people there are the "bootstrap" conservatives, who would wither in a heartbeat if we cut off the federal teat. They have the redistribution of wealth to thank for being able to manage some form of subsistence up there. This kind of hypocrisy is typical of western states, especially the rural areas.

[Selatius]

12. You want to hurt Republicans on this issue? Throw the old COMMUNIST canard at them.

It sounds like communism. Give them a dose of their own disgusting red-baiting tactics.

[ColbertWatcher]

14. So, what would it sound like?

So, DU reporter, Selatius, you've somehow made it into a McCain press conference, he picks you to ask a question. You give him a dose of the GOP's own "red-baiting tactics".

What does your question sound like?