Tim Penny & David Minge: Taxes increasingly paying for the past - not the future

Tim Penny is co-chair and David Minge is a an emeritus board member of the Committee for a Responsible Federal Budget. Both are former representatives from the state of Minnesota. They wrote an opinion piece for the Star Tribune, an excerpt of which is below: 

Another Tax Day has come and gone, and with it the end of the 2024 tax season. It shouldn't come as any real shock that April 15 is not a day most Americans celebrate, with most feeling that either they pay too much or that the system is too complex.

And yet, what truly adds a sour note to Tax Day is that so far this year 39 cents of every dollar paid in individual income taxes is needed to simply pay interest on the national debt. That means we are paying for the past — not the future.

Read the entire piece here.

Published works by members or staff of the Committee for a Responsible Federal Budget do not necessarily reflect the views of all members or staff of the Committee.