Legislators will protect Alaska's future by protecting dividends

Posted: Friday, May 09, 2003

I commend the Democrats' position to defend our permanent fund dividends. I hope all citizens get behind their position, as the future of Alaska depends on House Joint Resolution 3.

The real fact is that if the Legislature does not curb state spending, we will soon deplete the Constitutional Budget Reserve. Taxes will be raised through confiscation of the permanent fund dividend, in addition to other tax and fee increases. Our economy will suffer and the root problem will remain.

The state spends more than $57,000 for each family of four. How can we sustain this level of spending? This question must be addressed by the Legislature!

Dividend confiscation will simply allow this situation to continue for about 10 more years. What do our leaders wish to leave for our children, bankruptcy or hope? Will more of our children be forced to leave Alaska for opportunity, or will they inherit the permanent fund's legacy?

I don't believe that HJR3 will change the permanent fund's federal tax status. HJR3 changes nothing about the fund, except that spending the dividend must be approved by a vote of the people. This claim is another scare tactic promoted by people who want to spend your dividend for state government.

What our Legislature does today clearly demonstrates their vision. This isn't about a $1,000 dividend; it's about Alaska's future. Visit www.akvoters.org and contact your legislators today!

James Price, Nikiski

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