*** This blog is second in a series of articles looking at the future of the BabyBoomers.
FINANCIALLY LAZY OPTION TO PROGRESS.
This debate is in American cities today. Imagine, instead of raising local taxes to pay for state and municipal infrastructure -- we just "charge" it. Possibly to off-shore banks in China, Saudi Arabia?Introducing The GIC!
Seems like the perfect solution for our Generation-In-Charge (GIC) that brought to us such great innovative financial scandals such as: Savings and Loan
, Enron, FannyMae
and now FreddyMac
-- each situation cost all Americans millions (billions?) of tax dollars to sweep these failures under the rug.
Additionally, with such mis-misjudgment, isn't it strange that we would continue to pay some failed CEOs their hundred million dollar salaries in lieu of their financial mismanagement? Most people in such situations would lose their job. Not to mention, their home. And then, their car. Possibly even spend some time in prison?
It is for these reasons, we can only hope that GIC
takes a moment of self-reflection. Possibly in this moment, they'll see their own chronic generational behavior issue: financial mismanagement
CIVIC MIS-DIAGNOSIS, AGAIN.
Could it be, that after ignoring the crumbling infrastructure all these years, the current GIC would like to present financial solution
to a mismanagement problem
?See, back in the day
, the GIC inherited a new infrastructure built by the American people (Brokaw's Greatest Generation) and American tax dollars. In the 1950s and 60s, the people were engaged, they gave their fair share and they worked hard to make "the plan" a reality. Across America, both business and job opportunities made millionaires out of some and millions more were hired at a fair income to raise their families. The result was a giant infrastructure boom!
This GIC grew up in this rich environment of well-funded public schools and new roadways, yet as their moment of truth comes... they have yet to reinvest. Instead, they are considering financing America's infrastructure. AND THE PATTERN CONTINUES...
What happens when if this goes awry as other scams have? I wonder what life would be like in mid-size cities across America if we outsource our taxes, then default on them? Would China or Saudi Arabia own the physical infrastructure of our cities and states? What happens to our property values then? Our freedom?
This blog was inspired by NYTimes article Running Out of Money, Cities Are Debating the Privatization of Public Infrastructure
by Jenny Anderson.
Labels: Boomers, illegal, innovation, public policy, Scams