Our Permanent Fund Inspiration for Others
Filipino Political Scam Proposed for Economically Developing Country (EDC) Wealth Fund
Many Alaskans remember the idealism generated by Gov, Jay Hammond, and real legislative leaders like House Speaker, Hugh Malone, and Senate President John Rader, who passed legislation during the 10th Alaska Legislature to provide equitable payment for our oil in an agreement with companies developing Prudhoe Bay on state lands. We the People had witnessed construction of the engineering marvel Trans-Alaska Pipeline from Prudhoe Bay to Valdez, and recognized we were partners with the Goose that Laid Golden Eggs.[1]
We The People defined:
Alaska Constitution
Section 2. Source of Government
All political power is inherent in the people. All government originates with the people, is founded upon their will only, and is instituted solely for the good of the people as a whole.
Hence, We The People are supposed to be in charge of our government, not some strawman put into place to do the bidding of Outside interests, as is exactly what happened in Philippines when President Ferdinand Marcos was facilitated into office by the United States Central Intelligence Agency (CIA). President Lyndon Johnson nurtured and empowered Marcos as an puppet ally to justify the War in Vietnam.
Marcos ultimately became a dictator, together with his wife Imelda Marcos running the country with an iron fist. They plundered the Philipine economy before being harbored in Hawaii where Ferdinand died September 28, 1989 at age 72.
As early as 1969, the CIA determined that Marcos had already stolen several hundred million dollars, and, by 1972, other American officials had become aware that Marcos was raiding the national treasury. Nothing was said, however, to avoid embarrassing an ally. Estimates of how much the Marcoses had stolen from the government ranged from $5 billion to $10 billion.
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[2]A history of the Philppines, Luis H. Francia, Abrams Press, New York, NY, 2019 p 265
Alaskan Babes in the Woods
Beginning in 1982 Alaskans receive annual Dividends (PFDs) from the Alaska Permanent Fund because public officials with vision recognized our always inflated economy can best be addressed by distribution of earned dividends to the designated owners of our natural resources–as also clearly stated in the Alaska Constitution.
Article VIII Natural Resources
Section 1. Statement of Policy
It is the policy of the State to encourage the settlement of its land and the development of its resources by making them available for maximum use consistent with the public interest.
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One argument at the time was all Alaskans have an ownership interest in the Oil Resource in the same way a retiree in Chicago has an ownership interest in any oil company stocks they might own. Our PFD is compensation for living and contributing to make Alaska a better place for current and future Alaskans.
The PFD is NOT a Give-Away, Nor Charity
One popularly stated goal of this Wealth Fund during its inception was to keep from allowing anticipated abundant resource bounty from being pissed away on State/Local government. These same Honorable Alaskans believed we had an obligation to future generations to share in this bounty—not as government serfs but as independent thinkers–who could best provide for ourselves and our families through a direct payment of a dividend. Operation of State Government would also receive 50 percent from Permanent Fund earnings. This plan has worked and even served as inspiration for many other proposed Wealth Plans.
But Alaska Politicians now Deny
We The People Our Due
Some 38-years after establishment of the deal between the State of Alaska and Oil Companies producing our oil, Gov. Sarah Palin and the Alaska Legislature arbitrarily changed the deal to what they initially called Alaska’s Clear and Equitable Share (ACES), increasing the tax to 75 percent, causing the goose to wonder if an ax was hidden in Palin’s bloomers.
We The People Did Not Ask for this.
Grandstanding Palin abandoned her hotseat as Governor of Alaska to join John McCain on an ill-fated run for vice president of the United States of America. It was a laughable spectacle. Her Lt. Gov. Sean Parnell was left to pick up the pieces of her also laughable and ill-fated oil policy.
From a national press account: On Tuesday, (November 4, 2014) Alaskans will have to decide which tax will result in more revenue for the state. It’s a big question in a state that derives most of its budget from oil revenue – and a tricky one, because as oil production has boomed in other states, thanks to hydraulic fracturing (or fracking), it has dwindled to one-quarter of its 1988 peak in Alaska.
We The People Rejected Gov. Palin’s scheme.
Alaska still has among the nation’s highest tax rates on the oil industry, says Barry Rabe, a professor of public policy at the University of Michigan, in a telephone interview. Rates are far higher than any other state has ever tried.
Residents receive a dividend from the oil revenue the state collects. In its relationship to oil development, Mr. Rabe adds, Alaska has really functioned more like a foreign country.
This is not the first time Alaskans have been called Blue-Eyed Arabs.
[3]On Alaska’s oil tax referendum, Palin joins with liberals, Jared Gilmour, Wall Street Journal, 08/18/2014.((https://www.csmonitor.com/Environment/2014/0818/On-Alaska-s-oil-tax-referendum-Palin-joins-with-liberals))
In 2014 Another Absurd Alaska Politician
Took the Stage
In the 2014 General Election Bill Walker/Byron Mallott 134658 votes (48.10%) would beat Sean Parnell/Dan Sullivan 128435 votes (45.88%)
[4]Division of Election Results1