Rick Abell: Lower taxes, lower revenue
April 21, 2017
Ms. Schubert-Akin has stated the tax burden is high and being spent by “far-off bureaucrats." Almost half of all federal expenditures go to entitlements like Social Security and Medicare/Medicaid, and another large chunk goes to payments on the national debt and defense.
While it easy to point out that taxes might be high, it would be interesting what Ms. Schubert-Akin would cut to make up for the loss in revenue at the federal, state and local level. There’s no such thing as a free lunch. If revenue goes down, expenditures must be reduced unless one desires to continually increase the national debt until all revenue is used to pay interest to federal, state and local bond holders.