People are paying more in taxes than they have to?
White House officials said Monday that tax credits launched under last year’s economic recovery bill have boosted the average refund by nearly 10% from the previous year.
That’s supposed to make us forget all about the tax hikes, I’ll bet. Fine. Let’s say maybe that’s true.
The average tax refund for 2009 has reached $3,036, up $266 from a year ago, according to early data from the Internal Revenue Service.
Well that’s just stupid. If the average refund is up $266, that means the average pre-increase refund was $2,770. That’s the refund – that’s the amount the average person overpaid.
And, by “the amount the average person overpaid,” I mean the amount the average person loaned, interest-free, to the government.
Change your withholdings, people. Put that money in the bank.
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