Suppose that a city mayor proposes to pay for the construction
of public parks by implementing a 10-year local sales tax. Some
residents argue that the financing mechanism should instead be
spread out over many more years, noting that a person who moves in
11 years from now would get to enjoy the parks but under the
current proposal wouldn't pay for them. How should the mayor
respond to this concern from the residents? PROVIDE CLEAR
EXPLANATION
The city mayor proposes to build a park and he wants that to
financed by a 10-year local sales tax. However, some people want
such a tax to spread for more than 10 years as they are concerned
that anyone moving in after 10 years will enjoy the benefit for
free. This concern of some residents is ideally correct but
rationally illogical.
Some goods in economics are considered public goods and parks are
one of that. Public goods are goods or services such as national
defense or street-lights which are provided by the government for a
greater well being of the society. These are non-excludable which
means it is free for all to use and a person or group can not be
excluded from its usage even if he is not paying for that. Public
goods are not paid by people directly and produced from the
collective tax which a user may or may not be paying. However, this
can not be the basis of usage policy.
The residents who are arguing about this are completely missing
the point of public goods and if such an argument is accepted then
it will create exclusivity for such goods which is impossible to
justify and even maintain. For example, if a resident of this city
moves to another city which has cleaner air. This is because the
residents and local bodies in that city are environmentally aware
and have planted many trees then they can oppose a new resident
because he is getting a fresh and healthy environment without doing
anything for that.
Public goods are for the general public and it should remain that
way for the greater well being of the society.
Suppose that a city mayor proposes to pay for the construction of public parks by implementing...
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