Today, President Bush announced tax rebates amounting to $150 billion that is supposed to stave off a recession. The IRS is right on the case and the checks will be out in July (if the Democrats don't do something to screw it up, which I'm sure they will).
Instead of shifting $150 billion from our left pocket to our right pocket, here are some alternatives to get the economy moving again.
1 - Eliminate the capital gains tax. Why should stock dividends be taxed twice?
2 - Allow younger workers to put part of their Social Security taxes into private accounts. This would flood the financial markets with desperately needed capital and put the economy into overdrive.
3 - Eliminate the Department of Education, HUD, and all assistance to the UN. Fire everyone in the CIA and replace them with people who actually love this country. Same goes for the State Department. Return any saved money to the taxpayers. I know it's not much, but it's the thought that counts.
4 - Scrap the current tax system and replace it with a flat tax. How much money can we save by not having to hire armies of accountants and lawyers to figure out our income taxes?
Just a few ideas off the top of my head. I'm open to more suggestions.
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