Is it better to earn a million dollars or save a million dollars? For me, the answer is simple. What good is making a million dollars, if I spend two million dollars? I would still be in debt.
The same holds true for governments. The U.S. government is more than $15 trillion in debt. What good is raising taxes to increase revenue if you don’t also cut spending? You hear a lot of talk about taxes but the key to deficit reduction lies with reduced and more efficient (less wasteful) spending.
We all know the government is wasteful (and inefficient) with our tax dollars. Below are just a few examples of how your tax dollars were spent wastefully:
- $592,000 on a study to figure out why chimpanzees throw poop.
- $35 million allocated for political party conventions in 2012.
- $475 million worth of oil for the Afghan army that just disappeared and the US can’t account for where it went.
If you want more detailed information, you can read U.S. Senator Tom Coburn, M.D. report on Government Waste http://www.coburn.senate.gov/public//index.cfm?a=Files.Serve&File_id=b69a6ebd-7ebe-41b7-bb03-c25a5e194365
Instead of Democrats and Republicans arguing over taxes, shouldn’t the discussion be focused on how to cut wasteful and inefficient government spending?