Thanks for the facts Jack. The problem is that in 2001 when they did this it was exactly as Jethro describes. Anyone else remember having to declare that government check as income?
Sorry I don't have a source on this one other than the local newspaper, but it just seems really short sighted to borrow money to dole out like candy. The way I understand it, the plan is literally to run the national debt up by the same amount as the billions in "refunds!"
I'm struck with the same sense of "oh, yeah, duh" that I once got as a kid. I asked my dad if I could write a letter to President Carter to tell him to just print more money to pay off the national debt... (Remember when the size of the national debt was news and we were concerned about it?)
It took dad a couple of tries to explain that one.
