winwun
Member
All of us know, (or should) that if your out-go is more than your in-come you are on the down-fall. We have also learned that if we scrimp and save there will come a time when our savings will provide adequate income to meet our needs.
How would it be for a Municipality or possibly a State to operate under the same guidelines?
It would have to be paid for up front, of course, and would call for keeping taxes high, or even raising taxes for about 25 years or so to accumulate enough money to earn sufficient interest.
If a County or State had such a fund it would not only provide the necessary income to cover their annual budget, but could provide for amenities normally found to be too expensive. The County or State would become in effect a super large source of monies and as such would have tremendous clout in the political arena. Can you imagine a place with a high quality of life having NO taxes?
How would persons qualify to benefit from such a plan? There would certainly have to be qualifying factors.
I see a potential problem with free-loaders and welfare cases.
I see a problem with elected officials who would salivate at the thought of getting their grubby paws on such a fund in order to "satisy" their constituency. Sort of like LBJ did with the Social Security fund.
As long as we have Politicians instead of Statesmen this isn't going to happen, but for a fantasy, think about how your life would be right now if your County or State had instituted such a plan in, say, 1970.
If it were instituted NOW, what a legacy to leave future generations.! ! !
How would it be for a Municipality or possibly a State to operate under the same guidelines?
It would have to be paid for up front, of course, and would call for keeping taxes high, or even raising taxes for about 25 years or so to accumulate enough money to earn sufficient interest.
If a County or State had such a fund it would not only provide the necessary income to cover their annual budget, but could provide for amenities normally found to be too expensive. The County or State would become in effect a super large source of monies and as such would have tremendous clout in the political arena. Can you imagine a place with a high quality of life having NO taxes?
How would persons qualify to benefit from such a plan? There would certainly have to be qualifying factors.
I see a potential problem with free-loaders and welfare cases.
I see a problem with elected officials who would salivate at the thought of getting their grubby paws on such a fund in order to "satisy" their constituency. Sort of like LBJ did with the Social Security fund.
As long as we have Politicians instead of Statesmen this isn't going to happen, but for a fantasy, think about how your life would be right now if your County or State had instituted such a plan in, say, 1970.
If it were instituted NOW, what a legacy to leave future generations.! ! !
