At 22 min. left Kevin O'Grady shows how truly moronic he is at economics. He says that $2M of government spending is worth it to get $8M of private sector spending.
What he fails to realize, assuming this $8M pie in the sky number is even correct, that those $8M in private spending do not all return to the government in the form of taxes. Only something like 1 or 2% do.
So, what we're getting here, assuming their numbers are right, is $2M of government spending (derived from YOU, the taxpayer) in return for about $80,000 of sales taxes, which is equal to about the total compensation of about one lobbyist for the city.
Pretty bad investment.
Now, imagine if this, like most of America used to be run, was done through private investment. People voluntarily exchange money and the government happily gets $80k.
A lot better than doling out $2M for it.
Hmmm, private investment is sounding better and better. Too bad O'Grady and the overwhelming majority of our Socialistic City Council doesn't get it.
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