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One 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 u
by mruts 7y ago
One 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