Thank your Children for your Economic Stimulus Check

Make sure to thank your children for your economic stimulus check because they will be the ones that will be paying it back.

Whichever way you look at it, both the U.S. and U.K. governments are handing their citizens cash that was borrowed—and the citizens themselves are liable for the debt. If my bank manager arranged a surprise loan in my name and handed me the cash, I might feel pampered or put-upon, depending on whether I was planning to take out the loan myself anyway. Either way, doubt I would feel any richer. ...

Who will be the fall guy? We don't know for sure because we can't say whom a future government will tax. But an obvious candidate would be today's teenagers, very few of whom pay income tax today but most of whom will pay income tax in the next few years. Their best hope is that their grandparents add the tax windfall to their bequests rather than blowing the money on a weekend in the sun.