Monday, November 5, 2018

AKPFD4U-Defenders SELECTION


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Without a vision My People Perish.
It is time for Our Legislators and Our New Gov. 
To Accept and Restore Jay Hammond’s
wise vision for Alaska.

Governor Walter Hickle said; 'We are an ownership state',  and therefore as owners, we are entitled via our state constitution to dividends from our resource wealth
Dividends are not Welfare handouts, we own this state 
and all of its resources wealth.

Since Wickedness never promotes Happiness,
nor indeed Any Form of Rational Thought.

It is not at all surprising therefore, that ex-Governor Sean Parnell and ex-Governor Bill Walker gave the oil companies most of our precious revenue, ACES, and thus allowed them to abscond with our oil wealth.  Wealth which Alaskans need to fund our state budget. 

Governor Jay Hammond was clear what portion of our oil resources represented our fair share as owners. To quote him directly from the chapter ''A Broken Bargain'' in his book ''Diapering the Devil,''  ''When I was in office, the State, the Oil Companies, and the Federal Government AGREED to split the oil wealth pie roughly one third,  one third, and one third. 

Governor Sarah Palin, gave Alaska our Clear and Equitable 1/3 Share of oil revenue, ACES.  Why did Governor Sean Parnell push for the abolition of ACES?  He had it replaced by SB 21 which gave away Alaska's Clear and Equitable Share of our oil wealth. Now under SB 21 the State is bankrupt, and desperately seeking new revenue.   We hear talk today of individual personal income taxes, yes, DDT no less.(Yes, Double Dipping Taxation)!

With ACES and oil at less than $50 per barrel Governor Sarah Palin left over $20 Billion in the state's CBR Fund's a/c. Suddenly $8 Billion disappeared. Why and where did it go? And Now, with oil at almost $70 per  barrel the state is bankrupt under this new SB 21 tax giveaway to the oil companies.

Jay Hammond was right, we need our clear and equitable ONE THIRD share of our oil revenue.  Governor Sarah Palin gave it to us.  Traitor, Sean Parnell gave it to Big Oil.  Stop giving away our 1/3 share of our oil wealth to the big oil companies. We need our 1/3 share back.

Hands off our Permanent Fund.


On top of that, they have been paying out oil credits to cover non production expenses. Former Governors (some) and our legislature, whom we elected, have been betraying us. 

Governor Sarah Palin gave us ACES, Alaska's Clear and Equitable Share of our oil income.  The implementation of SB 21 has bankrupted the state. Though he promised,  Gov. Sean Parnell made no attempt to replace SB 21. What a TRAITOR  he became, and no one has yet called him on it.  It would be interesting to check his bank account deposits, probably in Switzerland?
  
Praise to the man Gov. J Hammond, who foresaw our future needs and laid up just 25% of Alaska’s oil revenue into  a Permanent Fund (yes please note it name) which has now grown to over $65 Billion and is kicking out over $6.5 Billion into its earnings reserve account.                                        
50% of The ​Earnings Reserve account of the Permanent Fund pays out our Dividends, Yes, Our Permanent Fund pays them. The AK State Budget does NOT pay them.

The State has it's own separate Constitutional Budget Reserve Fund from which it has spent $Billions and not repaid one copper cent. 

We are due the balance wrongfully retained in 2016, 2017 and 2018  by Gov. Walker and await payment, in accordance with law already enacted. Now also 2019. and 2020.  Obey the 1980 Law and set a good example for AK residents to likewise, obey all our  laws.

Laws already legally enacted are not subject to veto after enactment. Else that veto power would create a virtually uncontrolled dictator. 


We have not enacted any law authorizing the implementation of a State Individual Income tax (DDT) and never will in a State so rabidly rich with resource wealth.  When you have  Taxed those who take the profit that our resources provide that source of revenue has been fully taxed.   Our wages and salaries are company expenses and as such are legally tax exempt  company expenses. To  tax those expenses, because they are now in the hands of an employee is double dipping taxation, and is Government interference in wage negotiations.   

So No DDT (Double Dipping Taxation).

 Which Attorney General, our own  AK AG or the Federal AG, should prosecute and hold Walker accountable for breaking state and Federal  laws? A Direct and Capitation tax, as imposed by Governor Walker, is also forbidden by article 1 section 9 of the USA constitution.

What type of Oligarch did he think he was? A Democratically Elected Dictator?  
  
50% of the earnings reserve account has normally been re-invested in the fund to counteract Inflation.  This 50%, now over $3.25 Billion, is more than enough to balance our State budget, without cutbacks.  

Our dividends, normally paid out by the other 50% of the Earnings Reserve account, are not paid out of, and do not effect our the State budget at all. 


So why did Governor Walker try to interfere with a system which is and was operating perfectly, 100% as planned? Did he and his cronies want access via a POMV to our complete Permanent Fund, so they could continue their uncontrolled  addictive spending habit, or so they could allow their cronies in the Oil industry to avoid paying their agreed upon 1/3 share?   


Our Permanent fund operates totally independent of the State Budget and needs to be enshrined in the AK constitution, totally beyond greedy government interference. 

We are I hope, all of us, a law abiding people? That needs to include the Governor and the Judiciary, the House Membership and the Senate.  If the law makers become law breakers, the result is total anarchy.  Please remember what happened during the French revolution. Chop! Chop! Heads filled many baskets, and were displayed on iron railings all over town.

It is "We the People" who elect them and give them authority to rule, upon our behalf.
   
As we are required to obey, they too are required to obey all our laws, as already enacted.

Any Governor can borrow from the 50% of the Fund's Earnings Related account, which is normally re-invested, or as much of it as he needs simply by issuing 10% AK Tax Exempt, 10 year State Bonds. Until he decides to redeem them, he would just need to pay the 10 % interest on the bonds 

If any Governor, conspires to allow the oil Magnates to abscond with our precious resource wealth virtually tax free, the budget spending should indeed be severely restricted.  NO attempt should be made to raid our Permanent Fund to replace our oil Tax Revenue.

Failure to  pay the Bond's 10% interest, a Gov. should no longer be allowed to borrow from the fund, which is simply normal banking procedure, and that would earn AK state, a very poor bond rating. Which  in any event they duly deserve.  They have made no attempt to replace their CBR,  Constitutional Budget Fund, borrowing.  Not even a copper cent has been repaid, nor interest paid upon the borrowing from that fund. They would likewise so treat the monies of our fund. We cannot allow it.  

Instead of giving away our 1/3 share of our oil wealth  ACES,  rescind  SB 21 effective from the date of its enactment, automatically re-enacting ACES,  again obtain Alaska’s Clear and Equitable Share of our resource wealth, whether Oil, Gold, Silver, Coal, Fish, Tourism or any other resource.    Assuredly we would not then have a problem with our budget, nor would there be any need to ever introduce a state income tax. Collect the back taxes due from that enactment date also.

No doubt the oil barons will cringe and complain,  oh tough!  With oil now, almost  $70 a barrel again, they need to pay Alaska's Clear and Equitable Share. (ACES!)  


Vote NO to granting POMV access to our fund monies.  That would give access to the very Fund itself.  Absolutely not!  OUR FUND IS PERMENANT. Their spending has to stop. They have spent over $20 Billion left by Sarah Palin in their CBR account. Then, they gave away ACES, the state's real source of revenue.  They are far too generous with our oil wealth to their buddies/cronies in the oil industry. Remember the original agreement; 1/3 each, Feds, AK, big Oil.

Vote NO to the POMV ploy!
Restore Alaska's Clear Equitable 1/3 Share.
Restore A.C.E.S.

Hands off our Fund!


John J Kiernan  Text: 907-441-2964​  Goldbeard84@gmail.com
3550 W Dimond Blvd. Unit 211,  Anchorage AK 99502-1555
www.Goldbeards.blogspot.com










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