Saturday, June 29, 2013 | 2:01 a.m.
Regarding Michael O. Kreps’ letter, “We can’t afford not to cut waste”:
This is another case where someone tries to equate the federal budget to a household budget and asks the question about how long it would be before bankruptcy?
Do people have printing presses in their kitchens for $100 bills? The federal government has a press. It’s called the Bureau of Engraving and Printing. So, comparing a household to the government is a false equivalency.
Also, taxes do need to be raised on corporations by eliminating loopholes and raised on the 1 percent by eliminating capital gains. Why is money earned by sweat somehow beneath money earned by money?