In quiet anticipation of Mr. Obama's State of the Union, I got up early to read the Times and lo and behold an editorial previewing it. But I had this idea in the middle of the night and beat the Times to it:
Since tax credits seem to be the only coin of the realm that the Washington folks seem to think we want, let's put free enterprise into it. President Obama must realize that an income tax credit to someone who doesn't have a job really does no good whatsoever except as a political gotcha.
Why not give tax credits that someone can trade or barter with others? Let's say I have a $5,000 tax credit but only need $3,000 of it. Why can't I sell or trade the other $2,000 to someone who needs it?
With my simple system ALL the tax credits go into the economy and those among us who need cash and not just something we can't use, well!!! The answer stares us in the face.
You heard it here first.