BC’s vote to scrap the HST brings up the question of what happens to the $1.6 billion the federal government gave BC to implement the HST. It seems natural that the money has to be returned, but apparently the NDP disagree. This willingness to hand out money so freely makes me wonder if politicians should have to pass some sort of financial savvy test.
You might point out that politicians understand financial matters just fine and they act out of self-interest. This is likely true much of the time, but I wonder if sometimes politicians genuinely don’t understand basic financial facts.
Here is a simple essay question that intelligent adults should be able to answer correctly to have any hope of running a government:
Explain why having the government give every Canadian ten million dollars wouldn’t make us all rich.
If that one proves too difficult, maybe the following question is a little easier:
Suppose that ten people are adrift on a life boat. The only food they have is ten cookies. Explain why making a rule that each person is entitled to three cookies won’t help.
Any other ideas for good financial test questions?