People have more money, they spend more. Thus keeping people in jobs and paying TAX :-) And yep, future generations pay for everthing we do today.

Uh oh. <Reaches under desk and presses "Independent Thought Alarm" button>

It won't. However, if we were to abolish the IRS and implement a true consumption tax a five billion dollar burden would be lifted in less than one year. You see, a cunsumption tax taxes "everyone" spending money in this country. Be they here illegaly, visiting or as a resident. Plus the rich have a tendency to spend more money than the poor so they would pay the most taxes. Under a consumption tax everyone is actually taxed fairly. More importantly, a consumptioon tax "removes" power from politions. It also removes the "need" for any stupid "rebate" plans to stimulate the economy.

Ephraim, regarding yours and factoid's comments. The current Tax code is based on income. People, for what ever reason, lie about their income. It is easy to do. Don’t report the extra tip you received from a patron, don’t report the income from mowing your neighbor’s lawn, and for God’s sake, don’t report the pound of weed you just sold. Etc. etc. We know this as “living “off” the books. In some way or another we have all done it and the amount of taxable revenue missed by the government is negligible. Simplistically put, remove the requirement to “report” income and the problem addresses itself. Yes, a consumption tax would be high but by removing the income tax your net worth is also higher ergo: you are subject to spend more and the government collects more. If you elect to “save” rather than to “spend”, great, that generates more revenue for lending institutions to loan. The free market dictates the more money they have to loan, the lower the interest rates will become. Insofar as buying under the table? That requires a conspiracy on the part of the seller and the purchaser. Considering your purchase is only a small fraction of their total sales a successful business (grocery store, fast food restaurant, Auto dealer, Yacht dealer) is not about to risk legal retribution just to save you a mere pittance. Yes, for want of a sale, a few will try and perhaps even get away with it for a while but the majority simply won’t entertain the risk. My point is: If a politician claims he is going to “Raise” the tax or “Lower” the tax or offer a “Rebate”, he is speaking to the “entire” social order. This in effect elliminates pork barreling. He becomes castrated and cannot cater to any particular group of voters. There will be no need for “Rebates” and “Future Generations” are not saddled with the costs!

who cares? Live in the now!

It gets more money into the economy. It's not borrowed money, it's returned money. It's not the government's money at all. It's ours that they just aren't lifting out of our pockets and paychecks for a change. It's also not a debt unless it's borrowed. The government spends far too much money that it doesn't have. How about they just stop borrowing and cut the social programs and foreign aid?