Quote:
Originally Posted by davew
Universal income is currently being used in the state of Alaska, but not enough to live on, but enough to heat your house over the winter.
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The Alaska situation is quite different. In exchange for oil company drilling rights, the state takes title to around 22% of the oil that is pumped. It sells that oil on the open market and uses the funds to run the state. The state has no sales tax and no personal income tax. Part of the oil money is put into an investment fund, called the Permanent Fund.
Every year the state pays out part of that fund as a dividend to all citizens, regardless of income or need. The dividend varies from year to year, especially as the market price of oil varies. I have heard that the dividend has been as low as $800 during the recent recession. Last year I believe it was $2100. That's $8400 for a family of four.
