"When the wealthy don’t pay enough in taxes to keep the society running, then the money is borrowed, which has to be repaid by future citizens."

This would be true if we still used the gold standard or taxes actually paid for federal spending. Neither is correct. All federal spending is the creation of new monetary assets in the private sector. Those assets flow through businesses and wages to mobilize resources and labor to achieve the goals the currency was created to achieve until they are captured as a "store of value" for the commerce with our government and move from flow to stock.

Taxation removes those assets from the private sector and returns them to their origin in the government sector where they are cancelled/destroyed by the debt that created them. Cancelled currency cannot be re-spent as anyone familiar with dual entry accounting should know instinctively, so taxes cannot be a "funding" mechanism. Ditto for Treasury bonds, which are nothing more than an asset swap that gives up immediate liquidity for a small interest payment. You simply cannot collect or borrow what doesn't exist yet, which is what the common concept of federal finance supposes.

If one is comparing the concept of taxing to spend with the reality of spending to tax, it is the first that is "theft", not the second. If the federal government "balances" its budget it must claw back all payments made to the private sector for real resources and labor in taxation, much like a grifter bouncing a check. This actually does steal those resources and labor and has tanked our economy seven of the last seven times it was accomplished even for short durations.