added October 21, 2008 from the Anchorage Daily News: Alaska has $ 39 billon in savings!
Alaska: "We have a multi-billion dollar savings account while most states are drowning in red ink. - we have a Permanent Fund that would be the envy of many Third World countries. - this might not be the best time for America to be taking such a close look at Alaska. Imagine what it will be like in the next congressional session if any of our delegation attempts to get money earmarked for Alaska. Try convincing someone from California where the budget is drowning in red ink, or someone from New Jersey who pays some of the highest taxes in the nation, that despite our billion dollar savings accounts, the feds should give us money.
http://www.adn.com/...
Alaska the Welfare state. Is this the redistributing of the wealth that Palin is against?
What is socialism to Sarah Palin? And what is plain welfare? As the governor of a welfare state, we have to listen to all of her rherotic on the campaign trail, accusing Democrats of socialism?
Based on her home state: for every $1.00 paid to the Federal government, her state receives back a bit under $2.00 in federal aid.
So the "lower 48" supports Alaska as a "welfare state" by sending back to Alaska almost twice what Alaska citizens pay in. What does Sarah Palin call this? As below, her state is a beneficiary state, as our goverment takes from the donor states to pay the tab for Alaska.
Federal Tax Burdens and Expenditures: Alaska is a Beneficiary State
The above and below are from THE TAX FOUNDATION:
"States send federal taxes to Washington and receive federal spending in return. However, some states benefit more from federal taxing and spending policies than others.
Some "beneficiary" states receive a positive return from Uncle Sam, making other states "donors" who pick up the tab.
States with wealthier residents pay higher federal taxes per capita thanks to the progressive structure of the income tax.
Other factors include whether states have powerful Members of Congress, the number of federal employees present in a state, and the number of residents receiving Social Security, Medicare and other federal entitlements. "
Federal Tax Burdens and Expenditures: Alaska is a Beneficiary State
Alaska taxpayers receive more federal funding per dollar of federal taxes paid compared to the average state. Per dollar of Federal tax collected in 2005, Alaska citizens received approximately $1.84 in the way of federal spending. This ranks the state 3rd highest nationally and represents a large rise from 1995 when Alaska received $1.21 per dollar of taxes in federal spending (then ranked at 17th highest nationally).
Yet " Before the Trans-Alaska pipeline was finished in 1977, taxpayers in Alaska bore the second-highest tax burden in the country. By 1980, with oil tax revenue a certified bonanza, Alaska repealed its personal income tax and started sending out checks instead. The tax burden plummeted, and now Alaskans are the least taxed."
http://www.taxfoundation.org/...
While we taxpayers "pay for Alaska": In their state, Since 1980's, Alaskans are the "least taxed"
Is this redistributing the wealth that Palin is against?
The Tax Foundation is a non-profit, non-partisan tax research organization based in Washington, D.C. Additional questions about federal taxes paid vs. spending received by state? Contact Bill Ahern at (202) 464-5101