Where does tax money go? Does the money just evaporate, as some Republicans would have you believe? Or does it stay in the economy, paying for education, infrastructure, national parks, highway construction, veterans benefits, Medicare benefits, Social Security benefits, etc.? Taxes merely transfer money.
Yes, we need to seek savings and efficiencies in government wherever we can. However, we must pay for the government we want and need so America can be as competitive as possible going forward. We need an economic safety net, and we need to fund programs such as education and infrastructure rebuilding.
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Currently, for every dollar the federal government spends, it only collects 60 cents in taxes. That is why we have such a large budget deficit.
We had a balanced budget not long ago, during the Clinton administration, before President George W. Bush’s tax cuts, two unpaid-for wars and a near depression ran up annual deficits.
As most economists and the National Commission on Fiscal Responsibility and Reform recommend, we need a combination of both tax increases and spending cuts to get our fiscal house in order.
Mark Rothacher
Salt Lake City
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