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Argument: Tax rebates don't incentivize increased productivity
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Supporting evidence
- Brian M. Riedl. "Tax Rebates Will Not Stimulate The Economy". Heritage Foundation. January 10, 2008 - "tax rebates fail because they don't encourage productivity or wealth creation. No one has to work, save, invest or create any new wealth to receive a rebate."
- "We're All Keynesians Now". Wall Street Journal. January 18, 2008 - "A fiscal stimulus that really stimulates would change incentives, and do so permanently so workers and investors can know what to expect and take risks accordingly. One problem with the increasingly 'temporary' nature of the Bush tax cuts is that they are beginning to introduce new political risk into economic decisions. Though they expire in 2010, everyone understands that a new President and Congress could act to raise taxes as soon as next year. Mr. Bernanke could have educated the public about this business expectations problem, but then Democrats would have been upset."
