Putting the tax cut to work
In a few months, most taxpayers will be getting a check from Washington —up to $300 for single people, up to $600 for couples. This will be the first part of the massive federal tax cut passed by Congress and signed by President Bush. Their aim is to return $1.35 trillion in government revenues to taxpayers over 11 years. Supporters of the tax cut insist that the rebates are just the first fruits of a program to send money back to the people who know better how to spend it than do the folks in Washington. Critics regard that argument as spurious political rhetoric that attempts to disguise fiscal irresponsibility. It can’t be denied, however, that there is something attractive about the thought of money starting to flow back to the people.
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