The task I most dread is balancing my budget, yet we all have to face it. It's a chore that's expected of us and we do it. Although everyone looks to the Oklahoma City Council to balance the municipal budget, they don't. Even though it's required by law, they've failed every year as far back as I can remember.
Although it looks like they balance the budget on paper, if you look closely, they do it by decreasing services, like privatizing the ambulance. They do it by increased taxation for roads and the diversion of restricted tax funds. They do it by increasing fees and fines, which are simply backdoor taxation. Likewise, they do it with excessive utility rates. Also we might give bonuses to an excessive and overpaid city staff that gets benefits not available in the private sector.
Our federal government isn't required to balance the budget and has accumulated $15.7 trillion in debt. In addition to over-taxation, they use debasement of the currency through inflation, which is “taxation by stealth.” It pushes the population down through the devaluation of the dollar. At the same time, the dollars they print are doubly beneficial. As the process gives them new money to spend, at the same time it places people into higher tax brackets to increase government revenues. Few people realize or even care that inflation benefits only those in government. There is no benefit for the private sector.
Dennis Gronquist, Stillwater
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