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Fix the whole system

In response to “Tim Kaine’s failed leadership” (Op-Ed, yesterday): It is not failed leadership; it is plain out-right dishonesty. Go to the Virginia Treasury’sWebsite ( and the first thing you will be staring at is an arrogant boast about managing up to $8 billion dollars. Surf a little more into the site and you find that the average monthly liquidity has now reached $7 billion. That means on average the state carries a surplus of $7 billion, compared to an annual budget of approximately $30 billion.

The mainstream media, the Chamber of Commerce, Gov. Tim Kaine and his supporters want us to believe that they need a stable source of funding. If you have ever looked closely at Federal accounting, or state financial accounting and its history, you know that the whole idea of “dedicated taxes” — that is, taxes raised from a particular source and associated with a particular expenditure, is a total scam. Ever hear of the Social Security trust fund?

How many times has Virginia raided the highway trust fund to pay for things other than roads? Government trust funds are nothing but political allusions, and if the electorate ever comes to realize this, there may be some real reform in government fiscal operations.

The only thing that matters to the Virginia treasurer is that the color of the money is green. Would a road be any different if it were paid for by income taxes, registration fees or a sales tax? Of course not. And if you need a more stable source of funding, why not revamp the whole tax code and connect that one stable source to the whole Virginia budget? This will not happen, of course, because there is no one, ultimately stable source and there can never be, because in the end the state is exposed to the same risk as each and every tax payer.