|Alaska Dividend, from A Midgett Blog|
Alaska is a good role model for a citizen-ownership democracy, just for being probably the first and the longest lasting citizen-ownership democracy on earth.Alaska's citizen dividend is very well protected by Constitution laws. Politicians cannot easily dip their hands into the dividend fund and waste it away.
Alaska is a good role model for a citizen-ownership democracy, for how to safely protect the citizen dividend fund.Alaska politicians can easily give oil companies tax breaks, thereby reducing the contribution to the citizen dividend fund.
Alaska is a lousy role model for a citizen-ownership democracy, for not protecting the income stream to the citizen dividend fund.Alaska allocates only a small percentage (12.5%) of the state's oil tax revenue into the dividend fund. As a result, the dividend is not up to a "livable" level. In 2005, it was estimated that if half of oil tax revenues had gone into the fund, every Alaska family of four would have received more than $16,000 in that year (Jay Hammond, Father of the Alaskan Basic Income, 2005). Instead, each individual got less than US$1000 in 2005.
Alaska is a lousy role model for a citizen-ownership democracy, for the small percentage of common wealth that is put into the citizen dividend fund.If Alaska had put 100% of the oil tax revenues into the fund, each family could have $32,000. That would be a "livable" income. The full citizen dividend from oil wealth is enough to provide a livable income.