So, next comes the question of what politicians do when they have too much money, a rare fortuity indeed.
There is, after all, something a little goofy — in a technical economic sense — about raising money by taxes and then just giving some of the money back to the same people who paid it.
The taxes remain in place, as a deterrent to people to work in the first place. There’s no redistribution here; the point isn’t to give money back to different, lower income, people. People are likely to view a one-time, $300 check like a gift card, as Abrams suggested. This will likely lead to modest consumer splurges — a bad thing to encourage at a time when we are facing inflation.
Why wouldn’t Gov. Kemp and all other governors follow suit, to help Americans and Ukraine? Perhaps because they get to sign the checks now, and they may not care so much about higher gasoline prices later, when voters are in the booth.
Once again, the fundamental things apply: Good politics makes for bad policy. And we all suffer from our divisions.