|Quoting Superfly (Reply 47):|
BTW ANCFlyer and L-188, can you explain to me the difference between Alaskan dividends and a handout . Us down here in the lower 48s AND Hawaii don't receive such gifts from Uncle Sam.
|Quoting KROC (Reply 48):|
The dividend is based off of the state's oil royalty investment program not Uncle Sam...
I could be wrong though.
The Permanent Fund was created in the 70s when the state had a pretty large budget surplus from oil revenues. AK state constitution says the the natural resources in the state are owned by the residents of the state. Not the state government or corporations or whatever. So there was a large surplus, a few billion dollars at the time. It was invested and has since grown to over 30billion dollars. Today is actually the first payment day of the year. AK residents who get the early bird direct deposit. Mine will show up 10-19 I believe. It isnt from Uncle Sam, our money from the feds comes from Uncle Ted...as in Sen. Ted Stevens. It technically isnt the states money either. It belongs to the residents. The state just manages to investment.