Friday Fact Check: Bad math is the sine of a bigger problem.

In Uncategorized by Owen Phillips

Vote Yes on One folks are leading Alaskans to believe that $1.1 billion in tax revenue will be spent in the following way:

Creating 11,000 jobs that pay $100,000 annually                     1.1 billion
Paying a full dividend                                                                 1.8 billion
Filling the budget deficit                                                           2.3 billion
Total                                                                                              5.2 billion

We see three major problems with this equation:
1. They’ve spent the 1.1 billion, 5 times over.
2.They don’t have the authority to make any determinations on how any revenue is spent.
3.There won’t be $1.1 billion in tax revenue. At current prices and production levels, there will be about $250 million.