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America should seriously consider nationalizing its resources and using that money to either fund programs to reverse the trend of its declining life expectancy
by spamizbad 7y ago
America should seriously consider nationalizing its resources and using that money to either fund programs to reverse the trend of its declining life expectancy or at the very least reduce the deficit (and perhaps, one day, bootstrap a sovereign wealth fund of its own)
- mruts 7y agoOne of my clients at my old finance firm was Alaska’s oil fund. They do pretty well for themselves and dole out 2k/year in cash to everyone living there. It’s unsurprisingly a very popular program, though I’m kind of morally opposed to a government function like that.
- js2 7y agoThe amount varies from year to year. It's mostly been less than 2k. https://en.wikipedia.org/wiki/Alaska_Permanent_Fund#Annual_individual_payout https://en.wikipedia.org/wiki/Alaska_Permanent_Fund#Annual_i...
- kwhitefoot 7y agoThe Norwegian fund is principally for our descendants. The state has a self-imposed limit on how much of the revenue of the fund can be spent each year, the capital is untouched as far as I know. Also what money is spent is spent by the state rather than by individuals; no guarantee that it will be spent wisely of course but a greater degree of likelihood that it will be spent on something of lasting value perhaps.
- umeshunni 7y agoThe Alaska Permanent Fund is unsurprisingly popular. To the extent that the state recently voted to cut essential services rather than to cut handouts from the fund: https://www.nytimes.com/2019/07/07/us/alaska-university-budget-cuts.html https://www.nytimes.com/2019/07/07/us/alaska-university-budg...
- pjc50 7y ago> though I’m kind of morally opposed to a government function like that. Yes, it's much better for the government to allow a single person to appropriate all that wealth for themselves. /s