To the editor: To our supposed representatives, I would be ashamed to be elected these days. This is an utter sham. You are preceding over the destruction of the reputation of the Legislature and the law. Even the few of you that are attempting to do the right thing must have difficulty holding your head up high knowing you are part of a body that is failing so poorly to represent its people.
According to Alaska statute, the lawful calculation of the dividend is based on a five-year average of the Permanent Fund’s performance. Alaska statute mandates that the dividend is calculated through this method: Add fund statutory net income from the current plus the previous four fiscal years. Multiply by 21%. Divide by 2. Subtract prior year obligations, expenses and PFD program operations. Divide by the number of eligible applicants.
If that formula was followed, this year’s dividend would be over $3,000. But since the Gov. Bill Walker era, Alaska statute has been ignored, and now it’s the “leftover dividend.”
The $525 dividend that is in the 2022 budget for eligible Alaskans is only worth $195 in 1983 dollars, also because of the effect of inflation.
You have failed to do your duty and have repeatedly shown you think you are above following the statute. If you think the formula is wrong, vote to change it rather than being hypocrites and cowards. Why should any Alaskan follow the law when you refuse to?
It is obvious you have no regard for the average Alaskan and want to continue cutting the PFD which amounts to the most regress tax possible for our poorest members. Alaskans are united; they believe this is wrong yet you are unwilling to have the courage to find a solution. You have shown there is a need to vote more of you out of office.
Alaskans have consistently supported cutting and capping the size of government. You are failing to do that and are taxing the people during an economically devastating year for many people. Have you no shame?