Alaska needs to set its Financial House In Order.
1. In doing so, we first need to recognize that Alaska has ratified the USA Constitution.
2. When a company Makes, Mines, or Extracts products from natural resources and then sells those products, either raw, refined, developed and or manufactured, such a company is allowed to claim all it expenses incurred in the production of those goods. They are thereafter taxed upon their profits net of deductible expenses. Those lawful deductible expenses include the wages and salaries of all the company employees; from the President or Chairman and Executive CEO’s down to the lowly cleaners.
3. Since taxation on business profits will have been paid by the company itself, it is double dipping, i.e. Double Taxation to also tax employees on money obtained from the same source. Income is being taxed at both the corporate level and personal level. That is double dipping taxation. Double taxation is a taxation principle referring to income taxes paid twice on the same source of earned income. It can occur when income is taxed at both the corporate level and personal levels.
Before the 1914 war, there were no personal income taxes, SCOTUS had adjudged them to be unconstitutional approx. 1860. Before 1913 there was no Federal Reserve Bank to mess with our money and destroy its value through inflation. Our Greenback dollar is now only worth $1/18 greenbacks = 0.05 cents. Congress had total control of it.
Alaska Must Resolve the Budget Gap!
Must We Raid The PFD FUND? No!
Must We Raid The PFD FUND? No!
Rally around Our Fund Folks!
Big Wolves are Howling.
Big Wolves are Howling.
Our AK Permanent Fund is not part of the Constitutional Budget Reserve Fund. It never was. It is a separate fund from which no one has the legal authority to take money without a referendum vote from “We the People”.
It matters not that Ex-governor Sarah Palin filled our tax coffers to overflowing, when oil was less than $50 per barrel. Now with oil well over $50, our elected Representatives who apparently, really represent the oil companies have all turned around and given away Alaska’s Clear and Equitable Share of our oil income to those oil giants as urged to do so by our traitor Oil Governor Sean Parnell, who did not recuse himself as an ex oil company employee. We were promised then, that if SB 21 did not work out for us, we could change it. Instead of rescinding SB 21 and Re-enacting ACES, our leaders are suggesting a raid upon our PFD Fund, via a POMV arrangement. It matters not at all what we the people said, in 1989 with an 84% 'No vote'. They have not listened to the people. Soo they need to be replaced. They gave away our oil tax revenue to their buddies in the Dirty Bastards club. Now they want to make the Alaska public pay. Why should the oil companies continue to fund Alaska with ACES when they can make the people feel guilty of not supporting our state Government with personal income taxes? They would then get to share and enjoy more of our wealth with their buddies. They are our resources. ACES were determined to be our clear and equitable share. ACES was, is and will always be our clear and equitable share. Rescind SB 21. The DBC club members may grumble. Tough!
Joseph Goebbels set the principle that: "If You Tell a Lie Big Enough and Keep Repeating It, People Will Eventually Come to Believe It." And Yes, "truth is the greatest enemy of the State."
So quit lying to the Public. Yes, Alaska is overflowing in wealth. But it is the profit made from this wealth that needs to be taxed. No Personal Income Tax can ever be justified in a state which abounds in so much wealth. None! Whether it be the lowly floor cleaner or the Chairman of the company or its President, neither should have their income subject to Double Dipping Taxation. Personal income tax is Double Dipping Taxation. Companies pay its employees and deduct their wages and salaries as business expenses. Thereafter they pay tax on their profits. The tax is therefore paid. A further tax on the same source of income is Double Dipping Taxation. DDT is not good for our economy. Businesses are best equipped with accountants to deal with the IRS, not so the private individual. Tax Business enterprises and leave the public alone.
So quit lying to the Public. Yes, Alaska is overflowing in wealth. But it is the profit made from this wealth that needs to be taxed. No Personal Income Tax can ever be justified in a state which abounds in so much wealth. None! Whether it be the lowly floor cleaner or the Chairman of the company or its President, neither should have their income subject to Double Dipping Taxation. Personal income tax is Double Dipping Taxation. Companies pay its employees and deduct their wages and salaries as business expenses. Thereafter they pay tax on their profits. The tax is therefore paid. A further tax on the same source of income is Double Dipping Taxation. DDT is not good for our economy. Businesses are best equipped with accountants to deal with the IRS, not so the private individual. Tax Business enterprises and leave the public alone.
Yes, Alaska abounds in wealth. Our permanent Fund does too. Is it any wonder the Governor and the oil companies want to use our fund monies. The Oil companies are pointing them in our direction. They don’t want to pay their clear and equitable share of our taxes. That is why they pushed for the SB 21 tax act. Now they want our share too.
Well, now here’s the rub. Personally, I wouldn’t lend the State a copper cent from the permanent fund. The State is not credit worthy. It has given away most all its income to the oil magnates. Too bad, I was going to suggest the Fund purchase 3.5 billion worth of AK 10% tax-exempt State bonds from the 50% of the Earnings Related account which is normally re-invested to counteract inflation. But the State couldn’t pony up the interest due each year. It has given away Alaska’s oil revenue. And they may object to paying 10%. Good luck. Then let them go issue their bonds for sale on the open market. And see what response they get being so un-creditworthy.
Rescind SB21 and Re-Enact ACES oil taxes. Stop giving away our oil tax revenues.
Our AK Permanent Fund is not part of the Constitutional Budget Reserve Fund. You have your Fund, We the People, Have Ours! Obey the 1980 Statute. Pay Us our proper dividends. Likewise obey Article 1 Section 9 of the USA Constitution which reads: “No capitation, or other direct, Tax shall be laid,”. Governor Walker has inflicted a direct Capitation Tax on every Alaskan. Kindly obey all laws as enacted in our State and in our USA constitution.
3550 W Dimond Blvd. No. 211 Anchorage AK 99502
Let us all, please obey laws already enacted. The 1980 dividend payment law, and our USA Constitution Article 1 Section 9. No Capitation or direct Tax, shall be laid.
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