Peter Funt the 99 percenter

The market place functions when there's a meeting of the minds of the buyer and seller based on their perception of the supply and demand. When their minds meet the buyer and seller each walk away from the transaction with something they value more than what they gave up.

Today's Wall Street Journal contains a rant from Peter Funt about a proposal in California to allow drivers to pay a premium to use the car pool lanes while driving solo. His complaint is expressed in the title: "How Government Coddles the 1%, There's class warfare in America, all right." The filthy rich have it so much better, you know.

But he's right about one aspect if he could only acknowledge it. It's a monopoly situation with the government controlling the monopoly. They could privatize the roads and let the owner make them toll road where everyone pays, rich and poor alike. Instead, the proposal provides a fast lane option for paying customers. Seems like a way for the rich to pay their fair share -- if that's a phrase Mr. Funt would like -- and get something in return.

California's problem isn't that they are trying unorthodox ways to increase revenue, it's that they need so much revenue to begin with. There's where Mr. Funk's argument goes into the ditch. Californians have for far too long tolerated the government that led them to this situation. And now parts of the government are corrupted by the thirst for revenue. And, according to some reports, police in many California communities are not there to serve and protect but to ticket and collect.

Reminds me of the gasoline shortage and the long lines at the gas stations a few decades ago. I was living in Houston at the time, and one enterprising station owner there experimented with the concept of a higher price for those who were willing to pay more to avoid the lines. That was the market place at work. But no. The populists were up in arms at the very idea that some people could have an easier go of it simply because they were willing and able to pay for it. There was such a public outcry that the station owner canceled the program and shrunk back into obscurity. There's the 99% at work.

Here's the link to Peter Funt's article. Oh damn. It's behind the pay wall. Wouldn't you know? You have to pay to read it.

Comments

[Putryjipang]

I enjoyed this. I remeebmr watching tv as a family Sunday nights - Father Knows Best, Ed Sullivan. Funny to think the kid who played Bud in Father Knows Best is Charlie Sheen today! He was very funny.My Lucy moment was likely when the basement was flooding, I had been shop vac-ing, but was trying to get the water in the corner up with a turkey baster, when my daughter's boyfriend knocked on the door. I opened it, turkey baster in hand. He later told Lisa "your mom is sucking up the water with a TURKEY BASTER!" (Thus probably confirming family suspicions I am OCD:) )It was fun looking back at these old shows.......thanks!