Friday, June 3, 2011

Of false prophets, Noah's Ark and taxpayers

Supporters of state involvement in the Ark Encounter project in Northern Kentucky claim no tax dollars will be used in its construction or operation. Yet plans call for an $11 million improvement to an Interstate 75 interchange to accommodate an expected increase in traffic caused by park visitors. In his latest column, Jim Waters asks: ''If it's not taxpayers providing the 'assistance' that the governor indicated the park will receive, how will that transportation project get funded?''

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Hempy said...

As usual those wanting a government handout to fund their religious opinions would naturally claim no tax dollars would be used.

For the state to make such a commitment to improve highway construction, ought not it wait to see if the claimed tourist attraction is actually going to see some millions of visitors annually?

With the economy in the doldrums due to the deregulation of the Over-the-Counter derivatives, which was the instigator of the current recession, job growth has hit another stumbling block.

Government has failed to regulate and tax the OTC derivative market. Yet Alexander Hamilton and James Madison correctly observed that if men were angels there would be no need of government. (Federalist Paper 51)

Adam Smith, the father of capitalism, correctly inquired "what are the different methods in which the whole society may be made to contribute towards defraying the expenses incumbent on the whole society…?" (Wealth of Nations)

That would include regulation and taxation of OTC derivatives as well as subjecting religiously owned investment businesses to pay local property taxes.

Anonymous said...

Hempy, even if the tourist attraction does attract millions annually, tax dollars should not be used to support enlarging the interchange.

Hempy said...


Building roads to address traffic conditions is a function of government--not private enterprise. The problem lies in the fact that there is no data to support the proposed reconstruction. Government should wait till they have the data to support such an undertaking.

Neither should the governor have given tax breaks to support a religious opinion. That amounts to a tax on all of us including those who don't share those opinions.

Logan said...

Hempy -

What about the countless other businesses in the state that don't receive the blessing of the state by receiving funds for improved roads around their locations?

Government should stay out of it.

Hempy said...


I agree with you. These so-called "economic incentives" are anti-capitalistic bounties--as Adam Smith called them.