Your future earnings are already spent

It only takes a minute to scan over the list of projects below.

I recommend you do.

You'll quickly realise what bold visionaries we have in this country.

You can't help but be amazed at how much money they're willing to spend to "get the country back on the right track," "ensure Australia's future," "provide jobs and stimulate the economy," and so on.

  • Labor wants to spend $43 billion on a broadband network. The Coalition wants to spend $6.3 billion. (source)
  • Labor has already increased foreign 'aid' from $3.8 billion to $4.3 billion but wants to increase this again to $8-9 billion (or 0.5 per cent of gross national income) by 2015-16. The Coalition plans on matching this sum. (source)
  • Tony Abbot has promised $200 million to create a special reward fund for teachers in addition to another $120 million for a 'school technology fund.' (source)
  • Gillard has promised $334 million for a plan to boost apprenticeship numbers. (source)
  • The Coalition promised $25 million to improve roads leading into Rockhampton. Labor says this is too little. If elected, they'll instead spend $40 million. (source)
  • Gillard has promised $160 to upgrade a Townsville ring-road. (source)
  • Abbott has promised $3.1 billion for more hospital beds. (source)
  • Gillard has promised $2.1 billion for a rail services repair project in Western Sydney. (source)
  • Abbott promised $195 million to duplicate the highway between Winchelsea and Colac. Gillard has promised $257.5 million. (source)
  • Gillard has promised $7.5 million for a new research clinic at James Cook University. (source)
  • Abbott has promised $750 million for a Murray-Darling River project. (source)
  • Gillard has promised $5 million for translation services for older Australians. (source)
  • Abbott has promised $10 million for a high-technology fire-detection system. (source)

And on and on and on it goes...

Who do you think makes the better offer? Who are you going to vote for?

Now, there's a reason the great H.L. Mencken once said that "every election is a sort of advance auction of stolen goods."

You've got to ask yourself where Julia Gillard or Tony Abbott is going to get all the billions of dollars to actually pay for all these projects that they plan on embarking upon.

I'll give you three guesses and the first two don't count.

It's YOU, of course. You're going pay. Governments have no special powers that allow them to create wealth out of nothing. The government has no money of it own. Zip. Nada.

As Albert Jay Nock recognised:

There are two methods, or means, and only two, whereby man's needs and desires can be satisfied. One is the production and exchange of wealth; this is the economic means. The other is the uncompensated appropriation of wealth produced by others; this is the political means...The State, then, whether primitive, feudal or merchant, is the organization of the political means.

"But," you say. "How will the roads or schools or hospitals be built and paid for if the government doesn't do it?"

Well, do you want to live in a society that has roads and schools and hospitals? I certainly do. Entrepreneurs have an incentive, then, to bring these goods to fruition.

The reason people start businesses is to satisfy other people's wants and needs. They do this primarily because there's money to be made in such endeavours. But they have to offer their goods and services at reasonable prices otherwise no one will patronise their business.

If you think something is bad quality or too expensive you will not hand over your money.

With the free market, you can always walk away.

But you cannot do this with government. You are forced to participate. You are forced to pay for whatever harebrained schemes politicians come up with.

Whether Labor gets elected or the Coalition gets elected—it doesn't matter who wins—the fact is some group of people are coming to power and they're going to be spending your money and imposing their values on you whether you like it or not.

What kind of choice is that?