Monday, August 14, 2006

Robbing From Our Children

Most members of the Democratic Party, and some Republicans, during the presidency of George W. Bush have opposed the reduction of Income tax rates, the deficit spending by our federal government, and Social Security reform. Their argument is that we [Americans] are robbing from our children whenever the federal government has to borrow money. Democrats are right to make this claim. Borrowing which doesn’t produce a string of income to pay for the cost of borrowing is always paying later for what is consumed now.

However, increasing the tax obligation of citizens is also robbing from our children whenever government funds are used for purposes not mandated in the Constitution. For the most part, our federal government just needs to reduce spending in order to stop robbing. Americans are unnecessarily over-regulated. We don’t need a rule for every situation. We do need the freedom to be able to make our own choices as long as we are willing to pay the price of our choices while not infringing on the freedom of others. Additionally, government programs are so inefficient, most people would be better off without the interference of the government, anyway.

But if our only choice is between government borrowing and higher tax rates, the best choice for the future of our children is for the government to borrow the money it needs. Perhaps some Democrats could explain to me how our children are better off if their inheritance is confiscated by the federal government before they ever get to touch a dime of the estate, or in the case of my children, the penny jar, that is rightfully theirs.

While they’re at it, maybe these same Democrats could also explain to me how Social Security is anything but robbing from our children since all of the benefits of Social Security that we will receive will be paid by our children. I have to agree with the Democrats. It really is time to stop using government to rob from our children!


Rick and Gary said...

Hi David --

Interesting perspective. I guess the only choice anymore is between big government financed by taxes or big government financed by borrowing from the Chinese government.

In support of the first option, I would point out your own logic in arguing that low-moderate income people should pay at least some income taxes:

People are more likely to oppose the growth of government if they have to pay for it in an immediate, visable manner like taxes.

David M. Smith said...

Hi Rick,

I agree with you (and me previously). Everyone needs to pay some taxes because there are legitimate functions of government that need to be financed and everyone should have a stake in the legitimate functions of government.

I wasn’t arguing against paying taxes. I was trying to point out that the argument that opposes borrowing based on the logic that borrowing is stealing from our children is also applicable to the paying of taxes for illegitimate functions of government; especially Social Security.

Thanks for your great comments and for keeping me on my toes. : -)