LETTERS TO THE EDITOR - Some tax increases inevitable

Advertisement

Those who blame Social Security entitlements for adding to the deficit are mislead, or at worst, deceitful.

Social Security is self-funding and has produced a surplus of tax receipts over the years that will fund the program until 2037 without any changes in taxes or benefits.

Sure, last year the fund paid out $41 billion more than it took in, but that didn't add to the deficit. That required the government treasury to pay off $41 billion in trust fund IOUs and replace them with IOUs (Treasury notes) to China or someone else. That's not adding to the deficit, it's just trading one lender for another. The same goes for Medicare, except that the trust fund will run out much sooner.

The scrutiny the budget is receiving right now is long overdue, but Congress can never find enough cuts to balance the budget without seriously jeopardizing defense and essential government services.

Some tax increases are inevitable, and those who have benefited the most from our free economy, the super rich, can well afford to pay three or four percent more, which would be ample to bring revenues in line with spending.

I have been a Republican all my life, but the "no more taxes" mantra is not justifiable if we are to be a compassionate and safe society.

Jack DeWitt
Milton-Freewater

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment

Click here to sign in