Friday, August 29, 2008

When is a Tax Rebate Not a Tax Rebate? 

By John LaPlante

Filed As:  Budget and Tax

When is a tax rebate not a rebate? When it's more of a means of redistributing income.

New Mexico offered a tax rebate, but put an income limit on the distribution of checks:

Returns with an income of $70,000 or more represented 18% of returns, paid 75% of the taxes--and got zero rebate checks. 

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