23 January 2008


I've admitted to being an economic neophyte before, and that hasn't changed at all, but I am curious about something here.

I've been hearing about these economic "stimulus" plans that would pass out tax rebates to lower-and-middle income consumers who are more likely to spend them.

1) How is this not "wealth redistribution?" and 2? Why isn't the Church of the Holy Capitalism having a Red Fever meltdown over this?

Related: This from Jonathon Freedland in the Guardian.