News for hackers. Stuff that matters.

A comment on Bill Ackman: give every American cash at birth so they can retire a millionaire. Parent comment

Re:Bill Ackman: give every American cash at birth so they ca... by Thetawaves on Wednesday December 09, 2020 @08:24PM (#25368314)
It would be worth it to look at the State of Alaska financial situation. The world of oil isn't going to last forever, and those dividends will be among the first to perish.
[ Parent | on HN ]
Re:Bill Ackman: give every American cash at birth so they ca... by frgtpsswrdlame on Wednesday December 09, 2020 @08:31PM (#25368371)
Sure:

>Despite a $2.7 billion transfer to the state treasury, the Alaska Permanent Fund earned enough from its investments to grow by $1.4 billion, or 2%, during the just-ended state fiscal year. As of June 30, the fund stood at $66.3 billion, up from $64.9 billion on the same date in 2018.

https://www.adn.com/alaska-news/2019/09/08/permanent-fund-gr...

If you'd like to know more look here: https://apfc.org/our-performance/

You know how rich people only have to exercise very mild discretion with their spending because of how much money their money makes? A social wealth fund is sort of like that but for everyone. I think those dividends will be lasting quite a long time.

[ Parent | on HN ]
Re:Bill Ackman: give every American cash at birth so they ca... by Thetawaves on Thursday December 10, 2020 @10:51AM (#25374968)
Except they've already been reduced to less than 1/3 of the statutory earnings amount, and the state is rapidly depleting all other savings.

The writing is on the wall, all PFD earnings will go to run state government in the very near future.

[ Parent | on HN ]