#7: Create community investment trusts
Let people put their money where their mouths are -- instead of volunteering others to foot the bill for public improvements
If you really believe that EarthPark is going to be a tremendous success, then put your own money behind it
The Des Moines Civic Center was a privately-funded project, but there's no playbook or template for replicating that success today
To the contrary, Governor Tom Vilsack touted as some of his greatest achievements as governor the Iowa Values Fund and other subsidy projects
Formalize a set of conditions that make it possible for people to turn to this private investment first, rather than pushing for tax hikes
We're nickel-and-diming ourselves to death with lots of good intentions that don't pay for themselves
Some say it's only a matter of a few dollars per taxpayer, but more than half of American households have less than $55,000 in net worth -- including the value of their homes. Every dollar matters.
We face a continuum of choices: Some things must be paid out of the public purse. Some things must be run by the private sector. Yet there are quasi-public institutions and goods in between, and right now, government tries to fill too much of that gap with taxpayers' dollars involuntarily. Community investment trusts would create the option to hold the line. They assume that some institutions may not be highly profitable, but would represent goods in which people may wish to take part. Should they become necessary, tax deductions, write-offs, or even some special privileges can be accorded those who take part.
Most of these investment are a far cry from essential public purpose -- they're things we want, not things we need. It's tragic for a city like Des Moines, which has notoriously had trouble even keeping the streetlights on and the police department fully staffed, turn around and plan to speculate on projects like downtown hotels using taxpayers' dollars.
When taxes are low and essential government services handled efficiently, people have more money with which to invest voluntarily in projects that they really believe in
As government support has been reduced for public television and radio, those organizations have pursued donors aggressively and recognized them as "Friends"
Why do rich people donate to anything? We ought to have a system that enables us to donate to our own public good.
You can't solve problems just by constructing buildings. You could put an empty 100,000 square foot building in the middle of Chicago and still have homelessness. Problems are solved by people taking action.
Most of these investments are a far cry from essential public purposes: They're things we want, not things we really need. It's tragic to see a city like Des Moines, which has notoriously had trouble keeping the streetlights on and the police department fully staffed, turn around and plan to speculate on projects like hotels using tax dollars.
Lower your taxes and people will have more money to invest voluntarily in their own communities.
Public TV and radio stations have "Friends" groups recognizing voluntary donors.
Social capitalism and market philanthropy: Acumen Fund
Why do rich people donate to anything? Ought to have a system for doing it for our own good.
If you really believe that EarthPark is going to be a tremendous success, then put your own money behind it
The Des Moines Civic Center was a privately-funded project, but there's no playbook or template for replicating that success today
To the contrary, Governor Tom Vilsack touted as some of his greatest achievements as governor the Iowa Values Fund and other subsidy projects
Formalize a set of conditions that make it possible for people to turn to this private investment first, rather than pushing for tax hikes
We're nickel-and-diming ourselves to death with lots of good intentions that don't pay for themselves
Some say it's only a matter of a few dollars per taxpayer, but more than half of American households have less than $55,000 in net worth -- including the value of their homes. Every dollar matters.
We face a continuum of choices: Some things must be paid out of the public purse. Some things must be run by the private sector. Yet there are quasi-public institutions and goods in between, and right now, government tries to fill too much of that gap with taxpayers' dollars involuntarily. Community investment trusts would create the option to hold the line. They assume that some institutions may not be highly profitable, but would represent goods in which people may wish to take part. Should they become necessary, tax deductions, write-offs, or even some special privileges can be accorded those who take part.
Most of these investment are a far cry from essential public purpose -- they're things we want, not things we need. It's tragic for a city like Des Moines, which has notoriously had trouble even keeping the streetlights on and the police department fully staffed, turn around and plan to speculate on projects like downtown hotels using taxpayers' dollars.
When taxes are low and essential government services handled efficiently, people have more money with which to invest voluntarily in projects that they really believe in
As government support has been reduced for public television and radio, those organizations have pursued donors aggressively and recognized them as "Friends"
Why do rich people donate to anything? We ought to have a system that enables us to donate to our own public good.
You can't solve problems just by constructing buildings. You could put an empty 100,000 square foot building in the middle of Chicago and still have homelessness. Problems are solved by people taking action.
Most of these investments are a far cry from essential public purposes: They're things we want, not things we really need. It's tragic to see a city like Des Moines, which has notoriously had trouble keeping the streetlights on and the police department fully staffed, turn around and plan to speculate on projects like hotels using tax dollars.
Lower your taxes and people will have more money to invest voluntarily in their own communities.
Public TV and radio stations have "Friends" groups recognizing voluntary donors.
Social capitalism and market philanthropy: Acumen Fund
Why do rich people donate to anything? Ought to have a system for doing it for our own good.
- *** GET DATA ON THE DUBUQUE RIVER DEVELOPMENT AND PRAIRIE MEADOWS AS EXAMPLES ***
- Social capital
- Market philanthropy
- Acumen Fund
- What government should do:
- What individuals should do:
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