Private Sector Lessons
Governments traditionally use taxes on income and property to fund public services. This creates a disincentive for people to earn a high salary or accumulate assets. So wealthy citizens hire accountants to shelter investments in foreign countries and the rest of us pay taxes at the retail price.
Americans understand the benefits of smooth roads, clean water and safe neighborhoods. They just want a better return on their public revenue investment. Our governments have a variety of assets at their disposal. They should use those assets to pursue innovative ways of raising money the way private companies do.
The recent catastrophic bridge collapse in Minnesota has highlighted the need for infrastructure repair in our country. Much of the discussion over how to pay for this revolves around tax increases. Minnesota should instead explore ways to use the bridge itself to raise money. How many people do you suppose have gotten stuck in traffic on that bridge over the years before it collapsed? Thousands of bored commuters, with nothing to do but stare at the railing, hmm…
taxes, public financing, income tax, property tax, public revenue, Minnesota, infrastructure, bridge collapse, infrastructure repair
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