Tax holiday better idea

Our government has already spent $2 trillion in bailouts to reward failure and encourage more risky business decisions and is now discussing giving away even more of our tax dollars. Since the government’s budget is already in deficit, every dollar of bailout adds to the debt to be repaid with interest by us, our children and our grandchildren.

Instead, why not suspend all personal income tax for 2009? We can call it the Timothy Geithner Tax Holiday. This would also save the money the IRS spends collecting our money and enforcing; and the money we spend on tax software, accountants and hours of labor filling forms and keeping records.

The government estimates personal income-tax collections will total $1.3 trillion in 2009, so allowing the people who earned the money to keep it would not add as much debt as the bailouts and would be more beneficial to the economy.

The cause of the economic problem we have now is previous inflation. Tax cuts do not cause as much inflation as government handouts to those who cannot manage their own money. We can’t solve the problem doing more of what caused the problem.

David Wordinger

Medical Lake