Bright Idea of the Day
If you believe this story, the tax rebates are keeping consumers spending and buoying the softening economy. Those tax rebates took several months, almost a year, to debate, pass, and implement. Let's recap. In 2008, you and me have earned income, sent it off to the government, waited for them to send it back, and now have it back. And because we have it back, this is helping the economy. So, in the interests of further helping the economy I offer this bright idea: let's shorten the cycle time by cutting out the middle steps. Let's say that me and my fellow Americans be allowed to not send off a portion of our income to the government. That means it wouldn't take months to come back and we could help the economy right now, today, pronto, immediamente. Hmmm. But what would I call such a plan?
UPDATE: Mankiw calls it the same way.
UPDATE: Mankiw calls it the same way.
posted by Donny Baseball at 12:23 PM
2 Comments:
No, the Bush stimulus tax rebate was a terrible idea. Basically it was a redistribution of wealth in another name. It is going to reduce output, increase inflation, and eventually result in higher taxes. It was another stinker from Bush et al.
Indeed. He let Pelosi & Co. jam this down his throat. I can't believe that Paulson, Lazear and others let him do this.
Post a Comment
<< Home