Last week, the extortionists at the IRS wasted your tax dollars and mine to send me a notice that I would be receiving one of those silly stimulus checks. I am, of course, not unique in this regard; the government’s other serfs received similar notices.
Mine told me that I could “expect [my] payment by 6/27/08”. I didn’t, and it’s a good thing. The check did not arrive by Friday; it didn’t arrive on Saturday; it didn’t arrive today.
I am not unique in this regard either. Lots of other Americans haven’t received their stimulus payments; others received payments in the wrong amounts, and the IRS deposited about 1,500 Americans’ payments into the wrong bank accounts, according to the wire service that will not be linked here.
This is nuts. Beyond the foolishness of expecting the government to do something efficiently is the simple fact that these so-called rebates are an inherently inefficient means to stimulate the economy. If the government wants to reverse some of the damage that it has done to America’s prosperity, it should start by reducing the marginal tax rates that squelch wealth creation.