Update: It's good to see Michael at Best Destiny and Phil at Clear Commentary thinking along similar lines. With all the news of economic slowdown nearing fevered pitch, some Americans will like the sound of a few hundred extra bucks in their pockets. Hey, it sounds good to me, too. Except it's not a tax break in the sense of getting to keep more of your own hard-earned money. It's plain old wealth redistribution, as explained by George Mason economist Russell Roberts in this piece (HT Rossputin):The money has to come from somewhere. If you raise taxes to fund the plan, the people who are taxed are poorer and they'll spend less. If you borrow money to fund the plan, the people who buy the government bonds have less money to spend and … [Read more...]