Help me out here. In listening to one of the TV news shows, the percentage of people who do not pay taxes is about 38%.
But when they were stating what goes into that number, it includes people who get a tax refund. Is that true ?
The reason I ask it, I know a lot of people ( including myself when I was a younger, single guy), who have the most taxes taken out of their check because they like to get the refund in the Summer since it is a nice chunk of change to blow on the necessities of life.
Others I know actually use it as a ‘savings plan’ ( although I continue to tell them why give the Gov’t more money each pay) their reasoning is that they don’t want to pay at the end of the year and they just bank the refund check when they get it.
If it’s true that people who get refunds are counted as not paying taxes, isn’t that a little skewed because they do have a federal tax deduction taken from their pay check…actually MORE than they should.