Fund Myths and Lies

The PFD is free money that isn’t earned and people don’t deserve it.

Alaskans own the Fund as shareholders in the Owner State. It belongs to the People, now and future Alaskans, not the government. Better to share wealth equally with a dividend for all that boosts our economy and guards the Permanent Fund, rather than government overspending and corporate welfare for a few who will spend down the People’s saving account. Don’t let leaders rob the Peoples’ piggy bank!

Politicians say we need to cut the PFD to protect it.

No. This plan will change the Permanent Fund system and take away protection for the Fund. See the articles in the “Raids” section that confirm this. The slogan “Protect the PFD” by cutting and disconnecting it from the Fund is a lie and false advertising. Since the Governor vetoed $670 million from PFDs in 2016, and legislators cut the PFD in 2017 and 2018, it’s clear that the law doesn’t protect the PFD from politicians’ spending without public consent.

The State government owns the Permanent Fund and they need the money from the Fund and PFD now with a deficit.

The residents of Alaska own the Permanent Fund and the resources, the State is the landlord. The government increased it’s budget well beyond population growth and inflation. Restructure the government not the Fund. Alaskans must decide what kind of government services they want and how to pay for them, everyone can pay their fair share.  Don’t deplete Fund earnings to pay for a budget that’s not affordable by stealing from Alaskans’ to maintain subsidies that benefit the wealthy and spend without public consent.

Rasmuson polls showed that Alaskans are in favor of using the PFD for government spending.

The recent Presidential election showed that polls can fail to show public opinion. Here’s an article explaining how the Rasmuson and Governor’s “push polls” are biased.
A push poll by any other name …

My legislators are there to solve these problems. They will do what’s right.

Yes, we have a representative government. But if you don’t weigh in, how can they represent you? Get involved! Every Alaskan’s voice is needed in these decisions for a sustainable budget and protecting the PFD. Another big problem is over $5 million spent on lobbyists and campaign donors who pressure your legislators to do their will and disregard the public interest. Some representatives in both political parties are strong advocates for the Permanent Fund and Alaskan’s Owner State rights, but not all. Get to know the PFD friends and foes and keep them accountable. Voters must elect representatives, whatever the party, that will defend the Permanent Fund and PFD and make budget corrections and efficiencies. Some leaders say the public is ignorant and greedy and doesn’t understand the problems. The public knows the government has made a weak effort to discuss budget options and solve the budget problem. The public has a right to consent on any changes to the People’s Fund and PFD, that is clearly understood.

The Permanent Fund is a “rainy day fund” for spending on government.

“Rainy Day Fund” was never mentioned by the founders of the Permanent Fund. It was initially a savings fund for the people and the future generations. The deposits into the Fund, the principal, are protected against spending by the Constitution. Governor Hammond did say years later that the Constitutional Budget Reserve could be used for government. The people may decide to use Fund earnings for government, but only with strong safeguards for the dividend and the Fund. Earnings may be used but the Fund needs deposits and protection from inflation to grow and provide more stability for the future when resource revenues stop.

The PFD is guaranteed because Alaskans own the mineral rights of Alaska along with the government.

No. Alaska’s mineral rights were given to the State by the Federal government in the Statehood Compact (1958). It is the Alaska Constitution that gives Alaskans the right to benefit from these resources and share resource ownership. The Constitution does not protect the PFD. The dividend is provided by law and laws can be changed by legislators. Only a Constitutional Amendment can guarantee the PFD, and that is needed in 2018.  The Fund earnings can legally be spent by the Legislature. Now our government is deciding how Alaskans will benefit from resources through government spending. It is up to Alaskans to decide the size of the State budget, demand the kind of benefit we want from our government and protect the dividend. Or, the Legislators will decide for you how to spend your PFD and Fund, and favor special interests with your money. Does the government know better how to spend the People’s money? Are Alaskans getting a fair share for mineral wealth to benefit current and future generations?

I don’t need the PFD. It doesn’t matter if the government spends it as long as I don’t have to pay taxes.

If you don’t need your PFD use Pick-Click-Give to donate it. This Fund was set up to save money from overspending by government and benefit future Alaskans. Consider if the budget is the right size before taking the dividend or taxes. The PFD defends the Fund by keeping the people bonded to it – they work together to protect the Fund and our resources in the Commons. Alaska has less poverty due to the PFD so less government assistance is needed. The PFD boosts the economy with jobs and individual spending. The PFD can offset low taxes and fees, if the people choose that route, and that gives more transparency to government spending. Above all, it is the right of the people to decide these things.

A lie repeated often enough become the truth. ~ Goebbels.