Thursday, February 23, 2006

Taxes going to waste

Let me start with this simple statement of fact. Resources are scarce, but needs are infinite. There are all kinds of things people value - time, labor, food, clothes, health, transport. In this modern age, we use money as a medium of exchange. We can exchange money, also known as savings, for whats valuable to us.

Savings are scarce. The only reason individuals work towards savings is to use it for selfish reasons. By selfish, I objectively mean that a person is doing something that they themselves value. If a father wants to support his family, that is a selfish reason, because he chooses to do it because he himself values it. If I give money to a starving orphan, I am doing it for selfish reasons - because it gives me satisfaction. Allowing people to pursue their "selfish" goals doesn't necessarily result in a greedy and materialistic existence. As Adam Smith famously stated, free markets work in such a way that if you let people pursue their selfish goals, everybody benefits.

The Victorian ALP have no respect for freedom. Rarely does a day go by where I don't hear another story of a new way they have found to control my life and spend my taxes. Even if I did agree with how they regulated things, and how they spent my taxes, I know deep down that millions of other taxpayers would disagree. Therefore the entire principle of taxing and spending is immoral. Its hard to justify it, except for the really basic stuff like roads, airports, police, customs and a very basic public health sector.

Its clear that Commonwealth Games project boss Ron Walker has an open chequebook. When questioned how much it would cost to create 72 giant metal floating artworks on the Yarra River, he arrogantly replied:
"A balance sheet will be provided after the Games,"
And he ain't the only one who is saying that:
THE Bracks Government's $697 million Games budget is on track, Games Minister Justin Madden said yesterday.

But the real cost will not become clear until after the Games.

The Government is keeping its separate security budget a secret but reports put the cost as high as $100 million.

Some estimates say that it will cost Victorians close to $1bil to host this big event. And that doesn't take into account the traffic jams and inconveniences it will bring to the CBD. If the Commonwealth games is as popular as our media elites make out, then why can't it survive on its own without taxpayers subsidising it with huge amounts ?

I think its because people would rather spend their money on other things.