| Unless you are quite wealthy, that $5000 is going to debt service, which includes the expense of the principal as the bonds are retired. Anyway, think of it this way: you are paying for the government's capital expenditures over time, including assets that remain convertible, like land, and productive assets, like R&D facilities. You are paying for the armed forces that keep you safe, and keep the sea lanes open; you are paying for the courts, that guarantee your constitutional rights; in short, you are paying for all of things that you do as a tax payer, only "on time". Because you could defer the costs, taxes were kept at a healthy level, and services were provided by democratic decision. Paying down is fine, for the sake of ensuring manageability, but it is not as urgent as you make out....... |
