Wednesday, February 24, 2010

Running out of other People's Money

Margaret Thatcher once famously quipped that the problem with socialism is that eventually you run out of other people's money to spend.

Greece is in the middle of proving that the people who support the socialist ideal will turn on the government they created as soon as that eventuality comes to fruition.


Kez Creates said...

I was just talking about this sort of thing with my friend the other day because we were discussing why our school district needs to have a telethon every year to raise funds, why we have fundraisers coming home every month per child, per school, and why we pay school fees and on top of that property taxes and any other taxes that also go towards it. It's never-ending and always needing more and more money, along with every other tax funded program out there. We talked about what is going to happen to future funding with the rising unemployment, job cuts, and thus the lower amount of tax dollars to play with. I said 'eventually they will have so many programs, and not enough money [already happening actually], and then where will we be?'. It's a scary thought.

The number of people we see living on assistance or receiving at least some sort of aid is increasing year by year (we both work with a lot of low income families), which means fewer and fewer are actually contributing to the tax system. I feel like I am being sucked into a black hole every time I think about it.

Zip said...

Kez, to see where it all could end read Atlas Shrugged by Ayn Rand, if you haven't already...