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re: How many of you get a big tax refund check?
Posted on 3/27/24 at 10:42 am to Thundercles
Posted on 3/27/24 at 10:42 am to Thundercles
It’s forced savings and those receiving large refunds likely would not have saved the money throughout the year. They would be unable to get this large purchase.
The interest earned is nominal and would be taxed at the ordinary rate, so how much do you think they are leaving on the table? You are talking. About a $200 gain on $10k if you have it in a money market. At the ordinary rate, it’s a probably around a whopping $150 they are leaving on the table for a $10k refund. Very few people have anything close to that large of a refund, so it is typically much lower.
There seems to be irrational anger or looking down on those people. It’s their money. If it makes them happy then why should I rain on their parade.
The interest earned is nominal and would be taxed at the ordinary rate, so how much do you think they are leaving on the table? You are talking. About a $200 gain on $10k if you have it in a money market. At the ordinary rate, it’s a probably around a whopping $150 they are leaving on the table for a $10k refund. Very few people have anything close to that large of a refund, so it is typically much lower.
There seems to be irrational anger or looking down on those people. It’s their money. If it makes them happy then why should I rain on their parade.
2
Posted on 3/27/24 at 10:47 am to go ta hell ole miss
quote:I wouldn’t say it their face, but it does annoy me how financially illiterate Americans are. Personal finance should be taught every year of high school, but it’s not and here we are as a nation. I don’t blame the individual, I know it’s more of a system problem.
There seems to be irrational anger or looking down on those people. It’s their money. If it makes them happy then why should I rain on their parade.
Posted on 4/10/24 at 7:33 am to go ta hell ole miss
quote:
There seems to be irrational anger or looking down on those people. It’s their money. If it makes them happy then why should I rain on their parade.
Idc about the missed interest as much as I care about the people who seem to think refund = you won vs point = you lost. It’s irrational.
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