Politicians understand how Americans hate paying taxes. A good way to get votes is to promise lower taxes—even if the resulting deficit will burden next generations.

Even though we hate taxes, we love programs paid for by taxes: the military to keep foreign enemies at bay, social security for the elderly, weather forecasts warning us of hurricanes, protection for our borders, clean air and water, national parks, police to guard us, good schools, justice systems to mandate fair play, protection of Americans abroad—and so on and on.

Unfortunately, payment for these programs comes disproportionately from the incomes of wage earners. The recent tax cuts for some wage earning Americans are a pittance compared with tax cuts passed for wealthy Americans—those able to live on accumulated wealth, not dependent on wages from a job.

Taxation on wealth has not kept pace with taxation on wages.

This is not to heap shame on economically advantaged Americans. Many of them give liberally to good causes. They begin businesses resulting in jobs. They fund scholarships. They sponsor research.

But this giving is voluntary. Until taxation on wealth keeps pace with taxation on income, our government will be inadequately funded.

Americans who receive a tax cut this April are cautioned to remember that the gift is actually money borrowed from the future.