>>8
No it will have the opposite effect, people will have more to spend and would not mind spending it and being taxed on things they actually want.
My taxes average 30K per year, that is my money taken by the government. If I got that back sure I would spend it, hey I could use a nice widescreen TV, I wouldn't mind paying the taxes on it at least I get something for the money. Right now I see nothing back from the government for what I pay. I have never lived on government income and don't ever intend too, my property services I pay for via property taxes anyway, healthcare I hardly use and I would get better service if I could get private healthcare anyway. (I live in Canada BTW)
So this is a good approach, maybe not perfect but anything is better than the current system of punishment for success. Now the people who don't pay any taxes are clamouring for universal childcare, guess whose tax dollars are going to pay for that. I already ahve childcare; my wife stays home with our young son till he is old enough, I'd rather he grow up a good and cared for child than having a few thousand extra every year to spend on vacaitons or whatnot.
Seems everyone has lost the concept of living within their means.