Sovereign wealth fund

[Free bird]

Since were pumping more oil than Russia & Saudi Arabia should we have a sovereign wealth fund dedicated to social security & medicare?

 

[GravitySucks]

Since were pumping more oil than Russia & Saudi Arabia should we have a sovereign wealth fund dedicated to social security & medicare?

Commie!!!

 

[jazz4cash]

How would that work? The govt doesn’t own the oil in the ground like the places you mention.

 

[GravitySucks]

How would that work? The govt doesn’t own the oil in the ground like the places you mention.

But they do lease the land and tax the outputs.
My Last drive through Wyoming this summer their public radio was interviewing the gentleman that was in charge of investing the windfall the state has from extraction taxes and land leases. Apparently that is how the State of Wyoming is funded. No income tax, low property taxes. Extraction income is not particularly smooth so they must invest the good years to fund the poor ones.
So Wyoming does have a type of Sovereign Wealth Fund.
Guess the Federal government could have one too - except it has a deficit of funds, so where would the money come from?
I could make some suggestions, but Porky would be here before you know it.

 

[Scrapr]

haven't you heard of the Fed's Social Security lockbox?

any fund like that would be raided before 5 years were out

 

[Free bird]

I guess generational wealth is overrated. Generational debt is the gift that keeps on giving.

 

[joeea]

Since were pumping more oil than Russia & Saudi Arabia should we have a sovereign wealth fund dedicated to social security & medicare?

So that the benefits could fluctuate with the price of oil?

 

[happy2bretired]

I know nothing about this except what I read here about Norway and it’s an old article.

Quote
“OSLO--Norway’s minority government on Friday said its sovereign-wealth fund should be allowed to exclude from investment companies that damage the global climate, and appointed an expert group to assess whether the fund should be allowed next year to start buying unlisted infrastructure.”

https://www.marketwatch.com/story/n...g-in-companies-that-damage-climate-2015-04-10

 

[jimbee]

Would this be similar to the Alaska Permanent Fund?

"Alaska’s Permanent Fund was established by a constitutional amendment passed by voters in 1976 requiring a portion of state oil revenues to be put into a savings account to be available for the distant future, when North Slope oil fields are tapped out."

https://en.wikipedia.org/wiki/Alaska_Permanent_Fund

 

[happy2bretired]

Wow!

 

[happy2bretired]

Follow some of those links and get a taste of what the entire world seems to be doing. This is interesting.