In money supply theory, burning some of the supply is the same as refunding it proportionally to the currency holders. But despite that, I tend to doubt that most people will vote for burn proposals. The more likely result when people don't want to spend funds is that they'll just have the funds stay in the treasury fund account (i.e. vote on a proposal that sends the daily budget for that day back into the treasury account).
One interesting mechanism that I've seen suggested was to have all inflation allocated via an extended form of the proposal voting system. This would allow voters to allocate how much of the total daily inflation goes to all forms of rewards (curation rewards, post rewards, stake rewards, witness rewards, etc). I doubt we'll see anything like that soon, as it's a bit more complex than what we're doing now, and also more politically controversial, but I suppose it might happen eventually.