The media report giddiness (Dec. 12) about our region "winning" nearly $60 million (out of a $716 million budget) for economic development, including $1.5 million for the privately owned North Shore project.
The rationale is that if we don't take the money someone else will. Yep, that's true. But why does New York State persist in taking away everyone's money (taxes) and giving it back to a select few (grants, incentives)? The Fast Ferry, High Falls, Sahlen Stadium, Port of Charlotte, Sibley Building, Midtown Tower and communism have amply demonstrated that centralized economic planning doesn't work well. Here's a good incentive program. You've heard of it: the “invisible hand.” Let the free market decide. Let banks lend. Let investors invest. Let entrepreneurs risk. Cut out the middleman, lower taxes, and develop a more hospitable environment for everyone to live, work and make their own market choices.
Paul Hudson