Does it Matter What Income Tax Revenue is Spent On?

There are two parts to income taxes: removing income and spending revenue. Both parts have social and economic effects, but which part is more significant? Progressive income taxes take "excessive" income from wealthier people and prevent them from getting too far out from the norm. This helps create a more financially equal and healthy society than would otherwise develop. This much is good. But this effect is destroyed if tax revenue is spent entirely on projects making it easier for "go-getters" to make more money. Spending should be regressive.