Sunday, April 7, 2019

Sunday Musings

Its nearing the deadline for filing taxes and many people still need to do so.

The full impact of the Republican tax law will filter its way through the economy and in what was a poor decision on their part, many Americans are going to find they are getting a smaller refund or may actually owe money even though they are paying less in total.

This is because in order to try to influence the public they had the IRS recalculate the withholding tables, to withhold less than they should have.

The amount of the extra money in each paycheck wasn't impressive and combined with other changes that occur for most people every year, such as increased health insurance cost, it was probably pretty negligible.

If you get 52 paychecks a year, or more likely 26, an extra $10 or $20 isn't going to rock your world.  You do however notice that refund check of $520 you are used to getting.  \\Its actually enough money to get something or do something.

When they don't get it, they aren't happy. Would argue its just an interest free loan to the Government, but its like forced savings.

People like refund checks and are used to them.

No comments:

Post a Comment