Not true for retirees, persons on a fixed (eg pension) income, or anyone with accumulated wealth. Those people will have exactly the same amount they have now, it is their children and grandchildren who will suddenly have 25% more take-home money. Does this sound Fair?
Won't throwing a bunch of new money without any increase in productivity just create inflation? Isn't it almost the definition of inflation?
That's what the prebate would attempt to rectify -- although if these people should make sell property or stock they would keep all the capital gain.
But you make a good point.
it is their children and grandchildren who will suddenly have 25% more take-home money. Does this sound Fair?
What is fair now in our tax code? But it's not a matter of fair. It's a matter of bestest for the mostest.
Won't throwing a bunch of new money without any increase in productivity just create inflation? Isn't it almost the definition of inflation?
You're not creating new money i.e. nothing is being printed that would otherwise be printed.