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Re: clo and OCU kvetch about tax refunds being supposedly smaller ... 

By: Decomposed in BAF | Recommend this post (3)
Fri, 15 Feb 19 8:57 AM | 74 view(s)
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Msg. 03663 of 06530
(This msg. is a reply to 03659 by Beldin)

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Beldin:

Re: "... but, they're too willfully stupid to understand the obvious ... the Trump tax cuts reduced the periodic wage withholding rates, so workers received some of their tax savings earlier in the form of higher take-home pay. They did not have to wait until the next year to receive it all in the form of a refund. "
Well stated. Libtards don't understand that tax refunds are the amounts taxpayers overpay, or that overpayments are bad even when the excess will eventually be returned. Notice that our government doesn't give us back the interest we could have collected. By all rights, it should.

Smaller refunds suggest more accurate tax collection.




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The above is a reply to the following message:
clo and OCU kvetch about tax refunds being supposedly smaller ...
By: Beldin
in BAF
Fri, 15 Feb 19 12:38 AM
Msg. 03659 of 06530

... but, they're too willfully stupid to understand the obvious ... the Trump tax cuts reduced the periodic wage withholding rates, so workers received some of their tax savings earlier in the form of higher take-home pay. They did not have to wait until the next year to receive it all in the form of a refund. 

Treasury officials say smaller tax refunds are a good thing

http://www.cnn.com/2019/02/14/politics/treasury-tax-refunds-smaller/index.html?

Americans are seeing smaller refunds this year thanks to the 2017 tax reform - and the Treasury Department says that's a good thing.

The average refund is down nearly 9% so far this filing season, according to updated data released Thursday by the Internal Revenue Service. Refunds averaged $1,949 through February 8, compared to $2,135 for returns filed through the same period last year.

"Most people are seeing the benefits of the tax cut in larger paychecks throughout the year, instead of tax refunds that are the result of people overpaying the government," a Treasury spokesperson said in a statement. "Smaller refunds mean that people are withholding appropriately based on their tax liability, which is positive news for taxpayers." ...

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