A tax rebate for 2001 is a sensible option however. It may help soften the economic downturn created by the implosion of the speculative bubble of the last 10 years, and would certainly not cause any damage, if there were an actual surplus for 2001.
A rebate is simply giving back the surplus to the People, giving the People their own money back, as the Republicans are fond of posturing. The People can decide what they need to spend their money on, not Washington. Oh yeah, baby! Pablum time.
The only equitable way to distribute a rebate cut over the entire population is to divide the surplus by the amount of people who are on record as having contributed to the IRS for the prior year.
One would divide the 1.6 to 2.5 trillion estimated surplus over the next ten yeas by the number of contributing households registered by the IRS, adjusting for filing status and number of dependents in each. The result should be about $1600. - Per year per household. Everyone would get the same amount, from the bottom 99% to the top 1-%.
The rebate should only be granted if there is an actual budget surplus in the US Treasury at year's end. The calculation should be done each year. If there is no surplus, there should be no rebate. Simple, fair and clear.
By January 1 of each year, the IRS should be able to announce the amount of the rebate that each family will receive for the year. What a joyous day that would be! In Kingdom Come!
Of course, this simple plan is politically naive, one that will never be talked about on the mainstream media, even though it is clearly the fairest way to grant a rebate and avoid a fiscal disaster. We can only discuss this issue in the context that has been authorized for it by the Political élites and their media outlets.
What the politicians will talk about will be demagoguery that amounts to yet another con of the American people, with the acquiescence of the mainstream media. The tax plan that will eventually be passed will benefit the top 1% of the population, i.e. the rich, in the only terms that matter - real money. After all, why do you think they had the audacity to pull off the Florida electoral fraud in the first place?
One would only hope that the Republicans
do not inflict permanent damage on the economy
by passing an insane 10-year fiscal plan
that will only have to be overturned next
year after a chaotic denouement in the economy.
Do Republicans take the People to be fools?
What do you think?
March 13, 2001