James Leroy Wilson's one-man magazine.

Thursday, November 20, 2008

A Real Rebate

My latest at the Partial Observer. Excerpt:

Last week, I proposed corporate tax relief as one way to get the economy moving again. This week, I propose another way: cutting federal spending and putting some of the savings into the bank accounts of taxpayers.

But Congress will need an incentive to introduce them. Here's my idea.

Congress should cut spending from last year. With the money saved,

  • return one-third to the taxpayers in the form of a rebate to all who filed taxes.
  • return one-third to the state governments.
  • use one-third to cut the deficit and/or pay off the national debt.

1 comment:

  1. If they cut taxes, then the rebate would have to be part of the budget, which would have the extra benefit of reducing government spending even more, assuming they care about going over budget.... I like it.