Margaret Thatcher: There is No Such Thing as Public Money
When former U.K. Prime Minister Margaret Thatcher says, “there’s no such thing as public money, but taxpayers money”, she’s dead on. Unless government’s owns a business, or business’s like state- owned enterprises, all the revenue that government’s get is through tax revenue. In one way, or the other. And it’s generally done through multiple taxes. Like income taxes, sales taxes, payroll taxes, corporate taxes, estate taxes, capital gains taxes and other taxes.
And many more unfortunately from my perspective and government’s are supposed to use all of this revenue for the betterment of the country. Not for their own profits, or to make themselves rich, or waste the money. Again unless government owns their own enterprises, all the revenue it gets is through taking that money from the people through taxes and sometimes they give some of it back. Through tax cuts and tax refunds and other tax subsidy’s. Oil subsidy’s come to mind.
Meaning that what government does with our money, they have to spend it wisely. Not waste it and spend our money on things that will be keep our country great and make it better. Spend our money to do things that we can’t do for ourselves. Like national security, public safety, regulating the economy, infrastructure investment and a few other things. But not try to do for us what we can do for ourselves and do better. And not try to protect people from themselves, but protect innocent people from the abuse of people who would do them harm.
So to have the most efficient government possible if that’s possible, it would help to lay out exactly what government should be doing. And can do well and that gets to what government can do for people that they can’t do for themselves, or what government can do as well. And provide as much competition for the private sector as possible. Or do as well to be as efficient with our money as possible. And this gets to areas like national security, public safety, regulating the economy, being efficient with tax revenue, keeping debt and deficits down, or eliminate them. Keeping tax rates down so there’s as much money in the economy as possible.
Keep taxes down, so the people have plenty of revenue to take care of themselves. So they are not dependent on public assistance just to survive. Public education, for most of the population that can’t afford private schools, K-12 as well as higher ed. If government’s just concentrated in these areas instead of trying to have a piece of every pie that’s made, then they would have less to manage and would waste less money. Because they would only be working in areas that they are efficient in. And not doing too much and being a drag on the economy. When people say government’s money, or public money, they are actually talking about taxpayer money, or our money. Money that they take from us that’s not volunteered to them. So with this being these case, they need to be efficient with our money as possible so they waste as little of it as possible.