At least, that’s how the second paragraph in an article on CNN reads:
“If you’re among the 130 million people who qualify for the rebate, that’s great. But you should savor the feeling. Regardless of what happens over the next few months, your taxes have nowhere to go but up in the long-term future.”
And honestly, I happen to agree 100% – we cannot continue to give tax cuts out to everyone except the lower class, pay $12 billion a month for war, subsidize the airlines and everyone else (except Amtrak, strangely enough), send out notices (at the tune of $42 million) just telling us the stimulus checks were coming out, and then issuing the checks at a cost of $150 billion. And here is why your taxes will go up, as once again the Democrats will get the blame because they have to fix our situation over the next 4-8 years:
“Today’s low rates can’t last. The tax cuts of the past decades were supposed to lift economic growth (which they did) and hike tax receipts faster than federal spending (which they did not). Not even close. The resulting tsunami of federal debt is one reason to expect your taxes to rise over the next quarter-century.”
Remember how the tax cuts of the last 7 years were supposed to help our economy grow? It did just the opposite, and somewhere down the line, guess who gets to pay for this disaster? We do. So keep that in mind – although the government sent you $600, they will be coming back with their other hand wide open asking for even more. Nothing is for free, they say….