For 45 years, Alaska has lived a charmed fiscal life. It has reaped billions in taxes from oil and gas companies, revenue it uses to shift the burden for running the government away from residents who, as a result, enjoy some of the lowest tax rates in America.
The Alaska Permanent Fund, first established in 1976, has earned so much from those oil and gas companies drilling on state lands that it has been able to distribute a regular dividend to every man, woman and child in the state, a quasi-universal basic income program that has itself become a major […]
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