Re:Norweigan oil fund
by mruts on Thursday August 01, 2019 @11:00AM
(#20584312)
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.
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> 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
Re:Norweigan oil fund
by kwhitefoot on Thursday August 01, 2019 @11:17AM
(#20584546)
The 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.
The 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-budg...
The amount varies from year to year. It's mostly been less than 2k.
https://en.wikipedia.org/wiki/Alaska_Permanent_Fund#Annual_i...