Lawmakers Turn SC Government Into Pyramid Scheme

Government waste weighs heavily on the backs of the taxpayers.

This week the SC Legislature is considering Governor Sanford’s vetoes to its proposed budget. Total spending from all sources is set to exceed $20 Billion dollars in fiscal year 2008-09.

By the Budget and Control Board’s own numbers, state spending has grown 42 percent in recent years. This is more than twice the growth in median family income (just 17 percent during that same period).

So how does the state stay afloat if spending is growing 2 and 1/2 times faster than the citizen’s ability to pay for it?

Simple: South Carolina’s government is structured like a fraudulent pyramid scheme.

Here is the basic idea:

1. Governments waste money, fail to deliver effective services
2. Citizens pay taxes to finance government waste
3. Quality of life reduced, due to taxation and lack of services
4. Government expands to compensate
5. Higher taxes further reduce quality of life
6. Repeat steps 1 through 5

Not only does government growth inevitably lead to a larger entitlement system, it also receives diminishing returns from family and business tax policies as the private sector shrinks.

But big-spending lawmakers in South Carolina have a few tricks up their sleeves. While the design is fundamentally unsustainable, they are able to keep up the farce with the classic tricks of the financial con man.

See if these look familiar:

1. Perception of initial return on investment
(patronage, budget pork and earmarks)
2. Continual recruitment of new investors
(domestic migration to state)

Ironically, step two is fueled in part by failed government, which keeps standards of living so low that the new residents’ (often retirees) existing wealth carries a higher purchasing power than they are accustomed to.

Add to all this huge federal government subsidies, as well as the ability to hide debt and unfunded liabilities through government-only accounting practices, and lawmakers can continue to grow government with reckless abandon.

The people of South Carolina deserve better. Sadly, the track record of incumbent politicians (lying to constituents, lining the pockets of donors, ignoring the facts, and simply disregarding the will of the people) suggests that change will be hard fought. Take a minute now to contact your legislator and let them know that real reform is your priority.

Advertisements

3 responses to “Lawmakers Turn SC Government Into Pyramid Scheme

  1. nice photo! you forgot to mention how these scum personally profit from their positions, and then turn around and condescend to voters (eg Gullick) claiming to have their best interest in mind!

  2. that pretty much sums up what I think about our state government. Grasping bigwigs running things however they want( Cooper, Leatherman), with goons ( Walker) and and toadies ( Kelly, Gullick, Perry, Whitmire, etc.) lapping up whatever they can get their mitts on. Then they act offended and scandalized when someone points it out. vote the,m all out. who cares how much power they think they have. my vote still counts!

  3. Pingback: Waste Not, Want Not « The Voice for School Choice

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s