$2.20 Gift Keeps on Giving, Pays Dividends

October 30, 2008, 7:00 a.m.

Looking for "The Economics of Conservation," October 28, 2008? Click here.
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A $2.20 Gift to Our Great-grandchildren
Nicholas Johnson
Iowa City Press-Citizen
October 30, 2008, p. A15
The conservation bond offers one of the best returns on an investment of public money we're ever likely to enjoy.

• What's it worth to bike or cross-country ski along a trail? A fishing trip with grandchildren? It's Mastercard "priceless."

• Economists say recreation's value can be measured. It's at least what we're willing to pay for outdoor equipment, travel costs and related expenses. Clearly, more than $20 million over 20 years -- including profits for local merchants.

• Savings. The 2008 flood cost UI -- one institution from one flood -- more than $200 million, 10 times the bond. Conservation's reduction of flood damage may be its largest pay back.

• If matching funds materialize, $80 million of conservation for our $20 million bond is a better bet than any in Riverside or on Wall Street.

• Increasing values. New York's $50 million investment in Central Park in 1853 now is worth $500 billion. Imagine what our $20 million investment will be worth 150 years from now.

• Land and water stewardship is supported by all major religions and denominations. They know it's essential to continued life on Earth for all, including humans. That's another "priceless." For detail see http://FromDC2Iowa.blogspot.com ("The Economics of Conservation").

Of course, those who oppose all public expenditure -- whether for libraries, schools or parks -- oppose the bond. Why wouldn't they? But they can't deny either its ecological benefits or these returns on our investment.

And when their RoboCaller tells me the added $2.20 a month is going to increase my property tax by 25 percent to 30 percent I think they must be living in a smaller house than my son, Gregory.

For $2.20 to be a 30 percent increase would mean I'm paying $7.33 a month in property tax, or an annual total property tax of $88. I don't know about you, but my bill runs a good deal more than that. Sufficiently so that I don't think I'm going to miss that $2.20 gift to my great-grandchildren.

Nicholas Johnson
Iowa City
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Related:

Great Outdoors of Iowa (greenbelts, greenways, 100 organizations, news, more)

Nicholas Johnson, "The Economics of Conservation," October 28, 2008

Nicholas Johnson, "Go With the Flow," August 19,2008

Nicholas Johnson, "Floodplains," August 9, 2008

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