Some are suggesting a referendum to stop the tax on our Permanent Fund Dividend. However,
If we create a referendum to stop the Permanent Fund Dividend tax, will it help improve our ever growing recession? Will the Legislature just tax our income/wages?
Economists understand, if we have more spendable cash we can help improve the economic climate of Alaska. But it will fall short of improving our recession.
Consider this. Legislators are at a loss on what to do. Economists have expressed their clarity that expanding taxes, on individuals and businesses, will not improve our recession and likely generate more unemployment.
All successful nations/states In history have improved their economies with infrastructure. But in our debt based economic system we cut those projects first. That is how Governor Walker talks about the many cuts in government. The 40% cut in government was in the capital budget (infrastructure projects.)
And now he is taxing our Permanent Fund Dividend to demonstrate to Wall Street Banks how strong our credit rating should be to borrow money, with interest, to build infrastructure.
So Governor Walker will create a government bond and sell it to Wall Street Banks. But if we the people can create a bond (through government) why can’t we create the credit we need to build infrastructure?
Cut out the middle man. Create debt free money for infrastructure.
Politicians are in fear of the people. Let’s give them a constructive answer.
I would rather see a referendum supporting a public Bank of Alaska. Thereby removing any need to tax our Permanent Fund Dividend.
Lawful and Constitutional.
Ray Southwell
Nikiski