Edit: I know Emancipation Day gave us a couple more days with the IRS but as far as I'm concerned the 15th is still Tax Day.
It's Tax Day. There are a number of quotes out there but it seems the average tax refund is roughly $3000. That's a complete mystery to me.
I usually pay a few bucks. This year my combined net is a $49 payment. Most people complain about paying taxes. I have a problem with all the paperwork I have to do to just to make a $49 payment.
I don't really know what I pay in taxes. I think any payment I make to the government is a tax. Sales tax. Fuel tax. Tolls. Property and excise tax. Various fees. Licenses. Registration. I just don't keep track. I did once and it's a lot. More than you might think.
Most people I know who get refunds act like they think the government is giving them some money. But the fact is the government is just giving them back the amount by which they overpaid. And then there's these places that will give you an advance on your refund. With interest. So you give the government an interest free loan then you borrow against that and pay interest on it. Think about it. That makes no sense at all.
So the real question is why are they overpaying their taxes to begin with? And if the average is refund is $3000 that means for every person like me there's someone getting a $6000 refund. Overpaying by $500 a month. I'll take that $125 a week in my paycheck thanks.
People who get refunds are basically giving the government interest free loans. So why do they do that?
Here. If you're getting a refund you're overpaying your taxes and you need to get a W4 and use page 2 to recalculate your withholding amount.
Now 0.3% interest from my bank is another one of my hot buttons but...I'd rather it was mine than theirs.
Do you *really* think rich people pay too much taxes?
No comments:
Post a Comment