This Wk's Top 3 P'cast| Senate Resources becomes performative, why Rep. Galvin's income tax is much more regressive than Gov. Dunleavy's sales tax & how those rejecting alternatives to PFD cuts are undercutting the #AKecon. #akleg
buff.ly/VfqfIbR
This Wk's Top 3 P'cast| Senate Resources becomes performative, why Rep. Galvin's income tax is much more regressive than Gov. Dunleavy's sales tax & how those rejecting alternatives to PFD cuts are undercutting the #AKecon. #akleg
This Wk's Top 3 P'cast| Senate Resources becomes performative, why Rep. Galvin's income tax is much more regressive than Gov. Dunleavy's sales tax & how those rejecting alternatives to PFD cuts are undercutting the #AKecon. #akleg
This Wk's Top 3 P'cast| Senate Resources becomes performative, why Rep. Galvin's income tax is much more regressive than Gov. Dunleavy's sales tax & how those rejecting alternatives to PFD cuts are undercutting the #AKecon. #akleg
buff.ly/VfqfIbR
This Wk's Top 3 P'cast| Senate Resources becomes performative, why Rep. Galvin's income tax is much more regressive than Gov. Dunleavy's sales tax & how those rejecting alternatives to PFD cuts are undercutting the #AKecon. #akleg
This Wk's Top 3 P'cast| Senate Resources becomes performative, why Rep. Galvin's income tax is much more regressive than Gov. Dunleavy's sales tax & how those rejecting alternatives to PFD cuts are undercutting the #AKecon. #akleg
One of the most important things we have learned over the past decade is the importance of examining changes in the #AKecon distributionally. Focusing on overall averages, or worse, "my" experience, misses how changes affect most #AKfams. #akleg
No Friday column this week. Instead, some past #akleg columns: "So, what does 'no taxes' really mean? Since 2019 it has meant one thing – use a form of taxes (PFD cuts) that takes most from middle & lower income #AKfams, and has a larger adverse impact on the overall #AKecon." buff.ly/v3ZZCYW
Some rationalize PFD cuts on the basis that the state would have to raise the same amount of revenue in other ways without them.
So what. Those other ways would take less from 80% of #AKfams & be better for the overall #AKecon. #akleg
The real cause of Alaska's fiscal situation is that, while the #akleg has 60 "experts" on how to spend money, it has ZERO in how to raise the money fairly and with a low impact on the #AKecon. The result is an approach that has the "largest adverse impact" on both #AKfams & #AKecon.
We oppose PFD cuts for one simple reason. Of all the revenue options, they have the "largest adverse impact" on the #AKecon & middle & lower-income (80%) of #AKfams. There are MUCH better, lower-impact revenue options, many of which we support. #akleg buff.ly/VxPnpIO
Alaska's "business elite" list the state of the #AKecon as their biggest concern, but then push #akleg PFD cuts, which have the "largest adverse impact" on the #AKecon (but the lowest impact on Top20% #AKfams) as their solution to #AKbudget. #MoreConcernedWithThemselvesThanEcon
The Alaska death spiral. Biggest concern? State of the economy. The #akleg fiscal step w/ the largest adverse impact on the #AKecon? PFD cuts (ISER). But the fiscal step w/ strongest support? PFD cuts. 🙄 #CuttingOurOwnThroats buff.ly/55fPHu5
Alaskans, let's be honest with ourselves. Those who refer to PFDs as "spending" and PFDcuts as "spending cuts" are just trying to dodge the issue of which funding approach is more harmful to #AKfams & the #AKecon. Let's have an honest debate. #akleg
Edit: “I want to celebrate … this is a pro-[govt sector] growth budget that puts [some tied to that sector] on a path toward prosperity [but because use of a revenue source that has the 'largest adverse impact' on the #AKecon, most others not],” said Rep. Zack Fields." #akleg
Many #akleg claim to prioritize #AKfams & the #AKecon. But of all the revenue alts, cutting the PFD has the "largest adverse impact" on the #AKecon & is "by far the costliest" for #AKfams. Pulling that lever first reveals their true intent; protecting the Top20%, #NonRez & #OilCos instead.
We are stunned every time we do one of these at the massive regressivity of #akleg PFDcuts but also stunned that more who claim to prioritize the #AKecon & #AKfams aren't similarly affected.
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🤷 The archetype Top20% perspective. Tangeman has "deep concerns" about taxes but glosses over the hugely disproportionate impact on the overall #AKecon & middle & lower-income #AKfams that #akleg PFDcuts have and are continuing to have. Where was the concern when that started?
Before continuing down this road, the #akleg should stop and consider the alts. All are better for 80% of #AKfams and the overall #AKecon than continuing with PFD cuts.
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Some #akleg say no taxes. But they are already pregnant. "Let's be honest. A cut in the PFD is a tax ...." But it is the tax approach that, compared to the alts, is "by far the costliest" for #AKfams & has the "largest adverse impact" on the overall #AKecon ... https://buff.ly/3EmCH0h
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It's NOT about K-12 v PFD. It's K-12 v revenue. #AKleg PFDcuts are one alt (the "most regressive" that have the "largest adverse impact" on the #AKecon & are "by far the costliest for #AKfams"). Others are sales tax, income tax, #OilTax reform. Why aren't they listed?
Some say it's fine to cut their PFD to fund K-12. The Top20%, #NonRez & #OilCos encourage that; they dodge contributing. But it's 𝙝𝙤𝙧𝙧𝙞𝙗𝙡𝙚 economic policy. Compared to alts, it hurts the #AKecon, is unfair to middle & lower-income #AKfams, and is fueling outmigration.
... with #AKfams and the #AKecon. While the Top20%, #NonRez & #OilCos may contribute a bit more under the alternatives, it won't be much as a share of income, but middle & lower-income #AKfams - where outmigration is occurring now - will be much better off.
... the Top20%, #NonRez & #OilCos, who greatly benefit from regressive taxes, against the interests of the very middle & lower-income - #Working - #AKfams & #AKecon they claim to champion.
As we ramp up to the 2026 #akelect, we hope that #AKgov & #AKleg candidates find ways to realign ...
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From the perspective of #AKfams & #AKecon, Dunleavy's failure - and it's huge - as #AKbudget deficits have soared has been his refusal to push equitable, low-impact revs to close it. His strength has been his refusal to agree to permanently adopt "the most regressive tax ever proposed." #akleg
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... the alternatives - are dismissive, claiming a legislature "would never pass those." Some fall for that diversion.
But that has never stopped you, for example, from advocating for better approaches when, as here, continuing the status quo is inequitable or harms the #AKecon. In fact ...
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Glad you asked.
Persily's choice is #akleg PFDcuts - what ISER's Matt Berman has called "the most regressive tax ever proposed" and has the "largest adverse impact" of the options on the overall #AKecon. bit.ly/40V8pIi
By shifting the burden largely to middle & lower-income #AKfams ...
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... disproportionate share of the burden to middle & lower-income (working) #AKfams, increases poverty levels & has the "largest adverse impact" on the #AKecon. If you are 𝙜𝙚𝙣𝙪𝙞𝙣𝙚𝙡𝙮 concerned about #AKfams & the #AKecon, you should care 𝙖𝙨 𝙢𝙪𝙘𝙝 about #WhoPays as #WhoBenefits.
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