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KIND SUPPORTS TARGETED TAX REBATES
Monday, January 21st, 2008 -- 1:50 pm
Posted by Riley Hebert-News Director
"There is a real reason to be concerned," concedes U.S. Representative Ron Kind (D-La Crosse) about the economy.
"We've been seeing a slowdown of economic activity. More people are having to run faster just to keep up."
Friday, Republican President George W. Bush proposed a $150 billion plan that is focused on personal tax rebates and investment incentives for businesses that equal about 1 percent of gross domestic product.
Kind thinks the rebates—which could be between $600 and $1,600—are good idea.
"This is not a supply-side slowdown, it's a demand-side (slowdown). In order for them to get out and spend some money, you gotta put a little bit of that back in their pockets," Kind notes.
But, tax rebates beg the obvious question: if the government has money to give us, why did they take it in the first place?
Kind says, in fact, the government doesn't have the money for rebates.
"Since none of this is going to be paid for, you don't want to continue to add to the national debt and leave a huge burden for our children and grandchildren to climb out."
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