POMV plan not best option for protecting permanent fund

Posted: Friday, February 27, 2004

There are other permanent fund options available!

Elected officials need to be constantly reminded that 83 percent of voters in the 1999 special election said "No" to spending permanent fund earnings for government.

Because so many have chosen to disregard the results of that vote raises the question: Whom do legislators actually represent while in Juneau?

Recent advertisements promoting the percent of market value, or POMV, plan as a major benefit to Alaskans is really nothing more than their latest attempt to raid the permanent fund. Their false claims of paying big dividends and guaranteed inflation-proofing to sell this plan will ultimately be exposed upon close public scrutiny. Those responsible for this misrepresentation of facts should be replaced by honest citizens and full public disclosure.

So far the only legislation introduced that would really save the permanent fund for future generations of Alaskans is House Joint Resolution 3 and Senate Joint Resolution 19. Either of these would put the permanent fund earnings (permanent fund dividends and inflation proofing) into the Alaska State Consti-tution.

There is an excellent comparison chart showing effects of the different permanent fund legislation available online at: http://www.akvoters.org/pfdcomparison.htm.

Because they plan to spend several million of our dollars to "educate" the public with their myopic view of POMV, an equal amount should be allocated to "educate" the public of the other options available.

Then informed voters can decide which plan is right for Alaska's future!

Mike McBride , North Kenai

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