Comments by "Grenade Tennis" (@hughjass1044) on "Why is ALASKA on the verge of BANKRUPTCY? (Despite being SO RICH) - VisualPolitik EN" video.
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Norway finances its operations by taxes and banks its oil wealth. As a result, the nation and it's people retain a healthy buffer against periods of low economic activity so they can maintain their standard of living. They also retain the wealth; and the attendant power, that comes with it.
High earners pay high taxes for the privilege of living and operating their businesses in a safe, secure environment, with a healthy, well educated, highly motivated workforce. Strangely though, you don't constantly hear stories about people and businesses "fleeing" this high tax jurisdiction. Wonder why?
Alaska on the other hand (along with Alberta Canada, where I live), relies on resource revenue for everything and finances most of their operations with it. Whenever there's a price drop, we/they go into crisis mode because the money dries up.
Most of the wealth that our/their vast resources produce ends up in the pockets of oil company executives, stock portfolios and transient workers who pull pole and leave whenever times turn tough.
We/they are in nearly constant crisis mode when times are tight and blow through money like drunken sailors when times are good. What used to be great infrastructure and public services are declining steadily in quality but hey;.... LOW TAXES, BABY!!
The people who have nothing invested in this place and couldn't care less if we live or die are making out like gangbusters while the rest of us watch it all fade into dust.
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