OPINIONPaul Kupiec, Opinion contributor Published 7:17 p.m. ET March 19, 2020 Bailouts create long-term deficits that ensure higher future tax rates or reduced discretionary spending: Opposing viewThe practice of using government handouts as the response to every economic downturn must be curtailed. Bailouts create long-term deficits that ensure higher future tax rates or reduced discretionary spending.When millions of households are at risk of going underwater temporarily, immediately issuing everyone a life preserver and targeting additional government resources on the smaller number that need extra help is best.Every household should receive an identical interest free loan in the form of an accelerated tax refund. The amount can be fine-tuned, but a $5,000 refund would be slightly less than twice the average tax refund in 2018.There are about 130 million U.S. households, so this translates into an immediate cash injection of about $650 billion into the economy, half of which would have been refunded later this year regardless.Most Americans will understand the need to replenish the Treasury’s coffers when conditions improve. Post-recession, taxpayer refunds can be trimmed to repay the $5,000 tax-refund loan over the course of a few years.OUR VIEW: 6 ways to soften coronavirus economic blowHouseholds that don’t receive refunds


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