Tax breaks better than subsidies

Quote of the day:

. . . If you believe that politicians, those who direct such subsidies, are knowledgeable, clever and honest beings, striving only to do what is right for the common weal, then you might well argue that they should direct, in detail, where the taxpayers’ money goes. If you’re over the age of seventeen you will have been disabused of that notion, that politicians are honest, knowledgeable and clever, and so would prefer that politicians do not direct in detail. Rather, we might accept that public goods exist, that they should be subsidised in some manner, but having done that we want to keep the politicians as far away as possible from the details of what happens next. I would go further too. A tax break means that anyone who meets the rules gets the tax break. A grant making system means only those who suck up to the politicians get the grants. . . Tim Worstall.

It bemuses me that politicians are usually, and not always fairly, regarded pretty unfavourably but some people still want to direct out money where they see fit by way of subsidies.

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