Unfortunately, politicians think of taxes and spending as two separate and unrelated items. To you and me they are definitely related. Spend more than you earn and you go into debt. If you go into debt too far, you go bankrupt.
But to politicians there is no such relationship. If they spend too much they just raise the national debt limit. That is sort of like raising the limit on your credit card. There are limits to your credit card limit but no limit on theirs. Congress has infinite credit (or so they tell us).
There is one and only one tax reform that will accomplish anything. It’s called “spending reform”! Hello Congress! Spend less money! That will be the best tax reform you can pass — spending reform.
Jay C. Wood
Albany (Nov. 30)