COVINGTON, Ind. —
A recent column warned financial Armageddon was imminent because government has exceeded its “intended purpose” of “using taxation to provide for the masses those things that the individual cannot provide, including highways, dams, schools and armies;” while instead government is providing excessive individual welfare.
Not mentioned were wasteful energy research, sub-prime loans, Obamacare and a gazillion other costly things, besides welfare, government “provides for the masses.”
Of course I could not afford a highway, but neither could I afford the thousands of skyscrapers, businesses, factories, private schools, and yes, toll roads, that have been built without government assistance.
Dam building is no more government responsibility than privately built oil pipelines that span thousands of miles; President Hoover simply wanted a dam named “Hoover” and started the practice.
We could even individually administer the “right of self-protection” but inevitably justice would become Chicago gang style; “Cross me and I will kill you.”
So government is needed, created and granted the right to use force on our behalf, but applied rationally, so that justice and order are maintained. It is only this purpose that justifies the existence of government; otherwise, the private sector can and will provide anything the masses actually need and do so at less cost than government.
If we believe government has an “intended purpose” to “provide for the masses,” it then becomes obvious that taxes will increase, after-tax income will fall, private investment will subside, more welfare will be “needed” and financial Armageddon will indeed be imminent.