Some Thoughts About B.C.'s Future

I am fiscally conservative but [relatively] socially liberal. One of my mantras in life is: "Do whatever you want as long as you don't expect anyone else to pay for your lifestyle." I apply this on both a micro (individual) level, as well as a macro (societal) level.

It disturbs me greatly that by the time I was first allowed to vote, in 1982, those older than me had willingly elected governments that heavily borrowed in order to let people live far beyond their means. This is not an opinion, but simply a mathematical fact.

Fast forward to today. Both B.C. and Canada are similar in that they each have a large debt but have eliminated the annual deficit - at least for now. But the question is, with what policies do we move forward into the future? I'm quite pleased that we're now having a public fiscal policy debate [of sorts] both in the federal election campaign and provincially in the months leading up to the public sector union negotiations.

B.C.'s economy has improved somewhat and we currently have a large surplus. It must be noted that this came about as a result of a rebound in the private sector. For it is the private sector that ultimately creates wealth. I am not one to say that public sector employees are not needed, but it'll be interesting to see how this new found wealth is divided up.

To put things in context, imagine equating B.C. to one city block of 10 houses. I'm not an actuarian but I would guess that of the homes on the block:

• 3 are occupied by private sector workers that make $40,000+ per year
• 2 are occupied by private sector workers that make less than this amount
• 2 are occupied by public sector workers
• 2 are occupied by retirees
• 1 is occupied by someone on welfare

The challenge for B.C. is to figure out how we move forward into the future. And what are we going to do when the retirees grow to 3, 4, perhaps even 5 of those 10 homes - both because of our own aging population and a seemingly endless number moving here from elsewhere in Canada and elsewhere in the world. The medical costs for these people is going to skyrocket in the coming decades.

Some may call me selfish, but I have great concerns about most/all of my tax dollars being taken out of my pocket and deposited directly into the pockets of public sector workers. Am I working extra long hours 6 to 7 days a week for this purpose? Am I taking financial risks to grow my company for this purpose? I think not.

Though I'm one little fish in the overall GDP of B.C., I have to imagine that much bigger fish are asking themselves the same questions. And they most certainly have the wherewithal to utilize the global economy to minimize the taxes they pay. A good case in point are our friends in Redmond, Washington. Microsoft has taken advantage of Ireland's more reasonable tax laws to reduce their liability. And they're in the U.S., which relatively is a Canadian taxpayer's nirvana!

No responsible citizen, of which I am most certainly one, will ever complain about paying reasonable taxes, feeling that this money is being used properly and efficiently to pay for services that benefit society. But who can legitimately make the case that our tax dollars are being spent well? Be it AdScam, the Gun Registry, corporate welfare, lavish expense accounts of inumerable public officials, overly generous public sector union contracts, etc. - there seems to be no end to the inefficient use of money transferred from one type of citizen to another.

In the past, when a member of the ruling class showed her disdain for those who paid for her lifestyle by uttering, "Let them eat cake!", she was beheaded. I foresee a time, not too far away when countless numbers of Canadians will say, "No More!", and take legal steps to remove their hard earned money from the hands of the thieving ... errrr ruling class.