Thursday, September 7, 2017

Spending Money We Don't Have

9/7/2017—Why are we borrowing money to help Houston? One way for a society to decline is to lose the self-discipline to fund those matters it deems important. Right now the federal government is running a deficit. Sending any money to Houston is therefore borrowed money. There is no monetary justification for adding to the deficit with a current 4.4% unemployment rate. It is the right thing to help Houston. It is also the right thing to pay for it.

It would be simple to fund this money with a one-year surcharge on US tax returns. There are around 240 million returns filed. Even eliminating half of them would require only a surcharge of $66 or so to fund the planned $8 billion expenditure.

This will not be done because America has no leadership. Republicans hate taxes even though they still spend money. Democrats hate taxes that remind people that government programs cost something. And the voters don’t care that their grandchildren will pay for Houston one way or another.

The next time you wonder why America is going downhill, just look in the mirror.

No comments:

Post a Comment