Percent of market value plan step toward solving budget dilemma

Posted: Wednesday, February 04, 2004

I am a long-time advocate for the 5 percent of market value payout because it inflation-proofs the entire permanent fund and because it makes the fund's payout policy compatible with its evolved investment strategy that includes real estate and equities rather than only the income-producing investments originally allowed.

Implementing POMV must be kept simple and comparable to the existing dividend program to gain voter acceptance as required for a constitutional amendment. Dedicating 80 percent of the annual payout to dividends in the Constitution will assure voters that their dividend program will continue in a manner comparable to the current earnings-based formula. Government will gain access to 20 percent of the annual payout and be assured of a predictable, sustainable revenue stream.

Best of all, we will, after years and years of chatter, take a critical first step toward solving our fiscal dilemma.

Mary Griswold , Homer



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