Alaskonomics and Bihar – Part I

I chanced upon this article in the latest issue of TIME magazine. It has some very interesting data about taxes and spending in Alaska. After about an hour of google search today, I found a little bit of data (along these lines) on some Indian states too…I will share that with everyone in Part II of this post (either tomorrow or the day after).

In the meantime, enjoy reading some excerpts from Sarah Palin’s Alaskonomics by Michael Kinsley:

…Of the 50 states, Alaska ranks No. 1 in taxes per resident and No. 1 in spending per resident. Its tax burden per resident is 2 1/2 times the national average; its spending, more than double. The trick is that Alaska’s government spends money on its own citizens and taxes the rest of us to pay for it.

…Alaska is, in essence, an adjunct member of OPEC. It has four different taxes on oil, which produce more than 89% of the state’s unrestricted revenue. On average, three-quarters of the value of a barrel of oil is taken by the state government before that oil is permitted to leave the state. Alaska residents each get a yearly check for about $2,000 from oil revenues, plus an additional $1,200 pushed through by Palin last year to take advantage of rising oil prices.

…As if it couldn’t support itself, Alaska also ranks No. 1, year after year, in money it sucks in from Washington. In 2005 (the most recent figures), according to the Tax Foundation, Alaska ranked 18th in federal taxes paid per resident ($5,434) but first in federal spending received per resident ($13,950). Its ratio of federal spending received to federal taxes paid ranks third among the 50 states, and in the absolute amount it receives from Washington over and above the amount it sends to Washington, Alaska ranks No. 1.

Wonder what the figures are for Jammu and Kashmir, Maharashtra, Bihar etc etc…If any of you have any idea of where might I find similar statistics for the states in India, please send me an email at jai.dharma AT gmail.com. Thank you.

Related Post: The forgotten “J” in J&K

Adjacent Post: There is a “राष्ट्र” in “महाराष्ट्र”…

Part II in this series is here: “Maharashtranomics” and Bihar