Welcome to the People’s Republic of Alaska, where every resident this year will get a $3,200 payout, thanks in no small measure to the efforts of Sarah Palin, the state’s Republican governor. That’s $22,400 for a family of seven, like Palin’s. Since 1982, the Alaska Permanent Fund, which invests oil revenues from state lands, has paid out a dividend on invested oil loot to everyone who has been in the state for a year. But Palin upped the ante by joining with Democrats and some recalcitrant Republican state legislators to share in oil company windfall profits, further fattening state tax revenue and permitting an additional payout in tax funds to residents.
Among the more prominent elements of his tax proposal, Senator Obama would end the Bush tax cuts and allow the top two tax rates to return to 36 and 39.6 percent.
I know it is difficult to expect coherence out of a movement whose largest recipient of cheers at a rally is some guy talking out his arse named Joe the Plumber, but we will do our best to keep you up to date on what is and what is not socialism.