Economics 101 for Dummies

Sarah Palin, interviewed by the equally dim-witted Sean Hannity:

Palin: We are the only state with a negative tax rate where we don't have any income, sales or property tax statewide, and yes we have a share of our oil resource revenue that goes back to the people that own the resources. Imagine that.

Hannity: And it went up higher since you've been the governor and you negotiated with the oil companies. That all went up so people get a bigger check.

Palin: There was a corrupt tax system up there and we had a couple of lawmakers end up in jail because of the tax system that was adopted so we cleaned it up and said we wanted a fair and equitable share of the resources that we own, and the people will share in those resource revenues that are derived.

(A few minutes later...)

Palin: If Americans aren't paying attention, unfortunately our country could evolve into something that we do not even recognize. Certainly that is so far from what the founders of our country had in mind for us.

Hannity: Socialism?

Palin: Well... that is where we are headed.

Let's see....the state of Alaska gets oil revenue, i.e. "from each according to his ability", and parcels a share out to citizens. But we are headed towards socialism as a nation?

More bloggy goodness on this lesson in economics by the Wasilla Whatthefuck from Mudflats:

There were several things that jumped out at Alaskans from the Hannity/Palin interview that taped on Sunday and aired the following night on Fox. First was the gooey missive on how great it is that Alaskans own the resources of the state, and that the state gives us a nice check every year based on that resource revenue. After renegotiating the tax rate with oil companies, and using the gain to hand out $1200 checks to every man, woman and child in the state, some Republicans in Alaska were screeching “Socialism!” and comparing her to Hugo Chavez. All this, of course, was back before Palin became a household name outside Alaska’s borders. Most Alaskans thought this whole plan was just great. There were those on the left and those on the right that disagreed with Palin’s tactics, but it was a good lesson in how to become popular. Hand out cash.

Apparently even socialism is OK if you're a Republican.