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Author: brucedoe Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 10561  
Subject: Re: Wall Street Journal Doesn't Get It Date: 5/20/2003 9:22 AM
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Sorry, but I think that if the government returns taxes to the wealthy that cause deficit spending, it is a cost. After all the government is protecting the wealthy against mobs, etc., which is a benefit (if you don't believe this, look at Iraq), even if you don't think other contributions from your tax money such as NIH which is responsible for the origins of 70% of the health drugs are not worth it. If you give tax money back, then you should cut out somkething if it will cause a deficit (a la Greenspan). If you give back taxes and cause or increase a deficit then you are giving people something for nothing (actually less than nothing because of interest you have to pay on the debt). The government gives you back taxes, and then borrows the money back in bonds thus decreasing, if not eliminating, any benefit from the tax refund. Again this is not original with me, it came from Greenspan.

brucedoe
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