Wednesday, February 27, 2008

Tax Rebates BAD!! You'll Think So Too...

I blogged earlier about how the tax rebate is a wolf in sheep's clothing. Americans see money, are encouraged to spend it (by businesses and the government), and only further the mentality of spend spend spend rather than save, pay down debt, and make money grow. We wonder why we're a society of debt? It's because no one understands the value of saving and having money work for you. What encouragement do we get instead? Spend it rather than save it.

But for once, I have found solace in the tax community for someone (important people) agree with my discontent! Paul L. Caron at the Tax Prof Blog and Dalton Conley of the New York Times both have put out articles advocating investment vehicles instead of rebates to build wealth and recharge the economy. Rather than giving out rebates, why not hand out mutual funds?

I strongly recommend checking out Dalton Conley's article in the New York Times. It's a beauty and explains my argument to the "T".

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