Understanding and misunderstanding can go hand-in-hand.
Let me give you an example: During a discussion about capital reserve accounts at Bristol Town Meeting, the argument was made that setting aside money today to avoid having to raise money all at once when it comes time to purchase a high-priced piece of fire or highway equipment is unfair to current taxpayers who may not live to see that purchase. The idea is that a taxpayer — especially someone living on a fixed income — may need that money for today’s expenses, and if that person moves to another town or has a short time to live, the investment in a capital reserve account is lost.
That argument may be — and was — interpreted as being selfish and indicating that the person has no concern about future generations who would have to bear the full financial burden. Future taxpayers also may ask why the town was not planning in advance for a purchase it knew would be necessary.
Both arguments have merit.
It does not mean that today’s taxpayer has no concern about future generations, however. An investment in a new public safety building, for instance, does serve the current taxpayer, but it is designed to last well into the future.
Keep reading with a 7-day free trial
Subscribe to The News Café to keep reading this post and get 7 days of free access to the full post archives.