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- Apr 2, 2009
your statement is prob more ignorant....
there's always two extremes....WHOHOO im getting 5k back, let me withdraw it and take pix for facebook then go to the club...or blah blah i didnt give the gov a loan blah blah
its not always THAT clear cut...
some people hardly work but get all kinds of benefits from the gov and have kids or whatever so they end up getting big returns....some people are students that get handled differently as well-
and yes its a well known fact that if you do the correct calculations you should have your money during the year instead of in one lump sum at tax time...BUT for some this is a form of forced saving...that amount that adds up would prob be spent if the person is not financially responsbile so its not 1 to1 that they would have that same lump sum amount if they didnt have it withheld...and to assume anyone can take the money and "invest" it is silly...
again there's a huge grey area between black and white so u cant just assume a big refund = ignorance
for a person that is financially responsible and savvy...by all means get it down as close to zero or negative as you can and make that money grow for you during the year...but again its not that simple
exactly like me. i made 8k, but im getting back 1.1k ... how? 350 back from fed, 90 back from state, 400 "make work pay" government program credit, and 396 in "education expenses"
(numbers are rough)
