Give away of Our ACES Oil Tax Revenue?
Then as a Budget Solution, attempt a PFD Theft!
Wolves are howling Folks. Rally round and protect our Fund.
Our AK Permanent Fund is not a part of the Constitutional Budget Reserve Fund. It never was. The two funds are totally separate. One provides for State Government expenses. The other provides a Nest Egg for all of the People of Alaska, both current and future residents. We the People own all of Alaska's resource wealth. Our AK constitution says so.
Our AK Permanent Fund is not a part of the Constitutional Budget Reserve Fund. It never was. The two funds are totally separate. One provides for State Government expenses. The other provides a Nest Egg for all of the People of Alaska, both current and future residents. We the People own all of Alaska's resource wealth. Our AK constitution says so.
Republican Governor Wally Hickel coined the term, "Owner State" inspired by our state constitution and in particular two of its provisions:
Article 1, Section 1: Inherent Rights. This constitution is dedicated to the principles that all persons have a natural right to life, liberty, the pursuit of happiness, and the enjoyment of the rewards of their own industry; that all persons are equal and entitled to equal rights, opportunities, and protection under the law; and that all persons have corresponding obligations to the people and to the state. [emphasis added]
Article 8, Section 1: Natural Resources, 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 the maximum use consistent with the public interest.
The Owner State model was born out of Alaska’s colonial roots; Our resources being extracted by outside fishing interests. That evolved into a flimsy protection holding the line against the oil companies today.
“[R]esources must be used for the maximum benefit of the people,” Wally Hickel’s son, Jack, told Anchorage Daily News columnist Shannyn Moore in 2012. “Not for the maximum benefit of an oil company or for a government official, but for the maximum benefit of you and me, equally.”
No one has the legal authority to take money from the Alaska Peoples Permanent Fund without a referendum vote from “WE the People”.
The Fund was set up in 1976 by an amendment to our constitution not by the Legislature, but by a public vote of “We the people”, as the Alaska Permanent fund. Then in 1980, the current dividend program was created by statute, mandating roughly 50% of the earnings from the fund be distributed to all Alaskans Annually. 50% of the Fund’s earnings, were legally mandated by Statute, to be paid out to the people. The other 50% has been yearly re-invested in the fund to counteract inflation. This 50% could simply be invested in 10% Ten year Tax exempt AK State bonds and thus while continuing to counteract inflation, yet provide the Governor with emergency, budget funds, if needed.
When in 1989, then governor Tony Knowles asked permission of the people to use money from the fund for government expenses, 84% of the people roared NO!
Since then our really excellent Ex-Governor Sarah Palin filled our coffers to overflowing with our new ACES form of oil tax revenue. To get rid of ACES, Sarah Palin had to be driven out of Alaska. The dirty oil bastards club members saw to that. Sean McCain too was also instrumental. Then treacherous Sean Parnell almost immediately had
ACES replaced with SB 21, and thus the state is almost bankrupt.
Having been elected Governor on the promise that he would not touch the Permanent Fund, in June of 2016 Governor Walker illegally used his veto powers to overrule laws already legally enacted in 1976 and 1980, to cap the fall’s dividend at $1000. Essentially (he says) saving the fund $666 million in dividend payouts. He took $1000 from many poor Alaskan’s, and again in 2017 and again in 2018 he imposed a capitation tax on monies all legally mandated to be paid out. The Governor has broken our 1980 State Law without authority from Congress or the Public. He has broken State Law. His veto power does not extend to enacting a new law. He is our elected governor, not our King, nor Dictator. Congress alone has authority to Enact new law. He should obey all State laws already passed, and obey Article 1 Section 9 of the USA constitution which reads: “No Capitation, or other direct, Tax shall be laid”. By Governor’s edict, he has applied a direct Capitation tax to everyone in AK and stands in contempt of our USA constitution.
1. Now, with ACES and Governor Sarah Palin out of the way, he wants the Fund to pay $700 million back to the oil companies. We can’t afford those oil tax credits now on SB 21 tax revenue, AND HE JUST HASN’T GOT THE GUTS TO VETO THEM OUT OF EXISTENCE AND CANCEL THEM ENTIRELY. He wants you and me to pay for them out of the Fund, no less. Why are we continuing to pay Oil Tax Credits?
We will take most unkindly to theft from our fund. We did not elect a gang of Mafia Robbers to the legislature. We elected Senators and Representatives most of whom instead of representing us, have betrayed us by giving away our ACES income form of taxation to the oil company giants. Let us no longer continue to subsidize those Giants with Oil Tax Credits and only obtain reduced taxes under SB 21? When SB 21 was being promoted by then Governor Parnell, all sorts of oil production promises were made which have failed to materialize. Very well then, they failed to keep their promises, so the simple solution to our Alaskan financial situation is to rescind SB 21 and re-enact ACES, automatically backdating it to the implementation of SB 21. If those Oil companies cannot work without State Welfare Tax Credit subsidies, then Goodbye folks! All others welcome. Do not re-introduce those Oil Tax subsidies.
Now the state Legislature and our Governor are looking around in desperation, they only have a small Constitutional Budget Reserve backup fund with less than $5 Billion. From over $20 billion to less than $5. Where did that money go? When will they ever learn to stop spending OTHER PEOPLE'S MONEY? Before their oil revenue in the CBRF is exhausted they are attempting to attack our Permanent fund.
Article 1, Section 1: Inherent Rights. This constitution is dedicated to the principles that all persons have a natural right to life, liberty, the pursuit of happiness, and the enjoyment of the rewards of their own industry; that all persons are equal and entitled to equal rights, opportunities, and protection under the law; and that all persons have corresponding obligations to the people and to the state. [emphasis added]
Article 8, Section 1: Natural Resources, 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 the maximum use consistent with the public interest.
The Owner State model was born out of Alaska’s colonial roots; Our resources being extracted by outside fishing interests. That evolved into a flimsy protection holding the line against the oil companies today.
“[R]esources must be used for the maximum benefit of the people,” Wally Hickel’s son, Jack, told Anchorage Daily News columnist Shannyn Moore in 2012. “Not for the maximum benefit of an oil company or for a government official, but for the maximum benefit of you and me, equally.”
No one has the legal authority to take money from the Alaska Peoples Permanent Fund without a referendum vote from “WE the People”.
The Fund was set up in 1976 by an amendment to our constitution not by the Legislature, but by a public vote of “We the people”, as the Alaska Permanent fund. Then in 1980, the current dividend program was created by statute, mandating roughly 50% of the earnings from the fund be distributed to all Alaskans Annually. 50% of the Fund’s earnings, were legally mandated by Statute, to be paid out to the people. The other 50% has been yearly re-invested in the fund to counteract inflation. This 50% could simply be invested in 10% Ten year Tax exempt AK State bonds and thus while continuing to counteract inflation, yet provide the Governor with emergency, budget funds, if needed.
When in 1989, then governor Tony Knowles asked permission of the people to use money from the fund for government expenses, 84% of the people roared NO!
Since then our really excellent Ex-Governor Sarah Palin filled our coffers to overflowing with our new ACES form of oil tax revenue. To get rid of ACES, Sarah Palin had to be driven out of Alaska. The dirty oil bastards club members saw to that. Sean McCain too was also instrumental. Then treacherous Sean Parnell almost immediately had
ACES replaced with SB 21, and thus the state is almost bankrupt.
Having been elected Governor on the promise that he would not touch the Permanent Fund, in June of 2016 Governor Walker illegally used his veto powers to overrule laws already legally enacted in 1976 and 1980, to cap the fall’s dividend at $1000. Essentially (he says) saving the fund $666 million in dividend payouts. He took $1000 from many poor Alaskan’s, and again in 2017 and again in 2018 he imposed a capitation tax on monies all legally mandated to be paid out. The Governor has broken our 1980 State Law without authority from Congress or the Public. He has broken State Law. His veto power does not extend to enacting a new law. He is our elected governor, not our King, nor Dictator. Congress alone has authority to Enact new law. He should obey all State laws already passed, and obey Article 1 Section 9 of the USA constitution which reads: “No Capitation, or other direct, Tax shall be laid”. By Governor’s edict, he has applied a direct Capitation tax to everyone in AK and stands in contempt of our USA constitution.
1. Now, with ACES and Governor Sarah Palin out of the way, he wants the Fund to pay $700 million back to the oil companies. We can’t afford those oil tax credits now on SB 21 tax revenue, AND HE JUST HASN’T GOT THE GUTS TO VETO THEM OUT OF EXISTENCE AND CANCEL THEM ENTIRELY. He wants you and me to pay for them out of the Fund, no less. Why are we continuing to pay Oil Tax Credits?
We will take most unkindly to theft from our fund. We did not elect a gang of Mafia Robbers to the legislature. We elected Senators and Representatives most of whom instead of representing us, have betrayed us by giving away our ACES income form of taxation to the oil company giants. Let us no longer continue to subsidize those Giants with Oil Tax Credits and only obtain reduced taxes under SB 21? When SB 21 was being promoted by then Governor Parnell, all sorts of oil production promises were made which have failed to materialize. Very well then, they failed to keep their promises, so the simple solution to our Alaskan financial situation is to rescind SB 21 and re-enact ACES, automatically backdating it to the implementation of SB 21. If those Oil companies cannot work without State Welfare Tax Credit subsidies, then Goodbye folks! All others welcome. Do not re-introduce those Oil Tax subsidies.
Now the state Legislature and our Governor are looking around in desperation, they only have a small Constitutional Budget Reserve backup fund with less than $5 Billion. From over $20 billion to less than $5. Where did that money go? When will they ever learn to stop spending OTHER PEOPLE'S MONEY? Before their oil revenue in the CBRF is exhausted they are attempting to attack our Permanent fund.
As the dividends increase each year there would be more and even more money available to purchase new State Bonds. Government budgeting expenditures plus interest payments on bonds already issued, would just need to be limited to 50% of the PFD's earnings related account within the Fund. Thus we’d have an endless supply of cash serving the Government and the public. The money just needs to be passed around as planned and paid for, by 10% Tax exempt State bonds.
If the Government fails to pay interest due on the Bonds, the fund could simply refuse all further government loan applications. Thus our fund needs to function totally independent of the Governor and the State Legislature and we could thus place a limit on Government spending. The Fund need not be robbed, but its purpose, in fact, enhanced.
If the Governor needs money desperately, then let him issue 10% Tax Exempt State Bonds which will enhance the fund and help it counter inflation. Rescind SB21 and Re-Enact the ACES oil taxes system. Stop giving away our tax revenues to rich Oil companies. Remember the original deal was 1/3 of net revenue to each of Big oil, the FEDS, and AK.
Our AK Permanent Fund is not part of the constitutional Budget Reserve Fund. You've had your Constitutional Budget Reserve Fund and your 75% share of the revenue. We the People, have our Permanent Fund and our 25% share. Our Permanent Fund monies belong to “We the People” of Alaska. Let’s keep it that way. Pay the People their due dividends as legally enacted. Pay Up. Obey all laws as enacted. Let us all remain a law abiding people. Alaska will thus grow from a well off, to an extremely wealthy State of the Union.
But this DBC club based upon, you scratch my back and I'll scratch yours and the secret good-fellow handshake has to be ended. M.AK.G.A. Bring back ACES.
If the Government fails to pay interest due on the Bonds, the fund could simply refuse all further government loan applications. Thus our fund needs to function totally independent of the Governor and the State Legislature and we could thus place a limit on Government spending. The Fund need not be robbed, but its purpose, in fact, enhanced.
If the Governor needs money desperately, then let him issue 10% Tax Exempt State Bonds which will enhance the fund and help it counter inflation. Rescind SB21 and Re-Enact the ACES oil taxes system. Stop giving away our tax revenues to rich Oil companies. Remember the original deal was 1/3 of net revenue to each of Big oil, the FEDS, and AK.
Our AK Permanent Fund is not part of the constitutional Budget Reserve Fund. You've had your Constitutional Budget Reserve Fund and your 75% share of the revenue. We the People, have our Permanent Fund and our 25% share. Our Permanent Fund monies belong to “We the People” of Alaska. Let’s keep it that way. Pay the People their due dividends as legally enacted. Pay Up. Obey all laws as enacted. Let us all remain a law abiding people. Alaska will thus grow from a well off, to an extremely wealthy State of the Union.
But this DBC club based upon, you scratch my back and I'll scratch yours and the secret good-fellow handshake has to be ended. M.AK.G.A. Bring back ACES.
John J Kiernan 907-441-2964 Goldbeard84@gmail.com
3550 W Dimond Blvd, No. 211 Anchorage AK 99502-1555
I agree 100 percent with John Kiernan.
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