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Save the Alaska Permanent Fund

Letter to the editor

Posted: Tuesday, April 26, 2005

Our Republicans just don't get it. They have just demonstrated that they are willing to tap into the Alaska Permanent Fund when 80 percent of us told them, 'Don't touch it.' So it's time for Les Gara and other Democrats to save our permanent fund. Take up the task, for they have failed us.

With our oil now being sold at around $50 per barrel, why are you folks concentrating your efforts on that damned Ecomonc Limit Factor? Please cease and desist in trying to reform the ELF. Just be realistic for once. Shelve the bugger, er the ELF, in a steel cage and throw away the key. The oil of Alaska belongs to the people of Alaska, not to the oil barons who are now reaping a vast fortune from windfall profits. Many are escaping even our minuscule 13 percent tax rate, which is a worldwide joke.

Concentrate your efforts on demanding the return of Alaska's oil wealth to the people of Alaska via a 50 percent Windfall Profits Tax made retroactive to when oil sold at $25 a barrel. With such an income pipeline, there will then be more than enough money to spend on education and such pet projects as a jet for our governor. If he helps bring some of all that wonderful windfall profit back to the people of Alaska, why then, we will gladly buy him a gold-plated jet, which he can even keep on leaving office.

The best form of defense is attack. Marshal your forces. Strip away the cronyism of the big buddy system of those linked to the oil barons. Lay bare their arms extended in secret handshakes before the eyes of the people. Get the job done for our people. Make your war cry: With a Windfall Profits Tax, there is simply no need for Alaskans to reinstitute an income tax or to touch the permanent fund, ever.

John J. Kiernan

Anchorage



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