Quote:
Originally Posted by August
A years interest on $1200 bucks is about enough for a cup of coffee. Quit acting like it's gonna pay the rent. I see your point about interest but it's hardly a significant amount and I know from personal experience that the lump sum can come in awful handy (perhaps to make a rent payment).
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There is a difference between "hardly a significant amount" and none. That was what I wanted to illustrate.
The point is that there is a misunderstanding when the government reports that x % of people have no federal tax liability and what is commonly discussed that x % of the people do not pay federal taxes. The two are not synonymous.
Oh and I agree that to many people they would prefer the one lump refund to a smaller deduction out of their pay. I knew a lot of people in the military who loved that.... they seemed to be the ones that did not do so well in math class.
PS. using an amortization calculator, at 1% interest, $100.00 per month for a year will result in a profit of $193.53 over the investment of $1,200. Hardly enough to retire on but a pretty expensive cup of coffee.
