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Do you like giving the government interest free loans?

Posted by Anonymous   + Show Post

 I hear so many people who LOVE to get so much money back every year from their tax returns. Um....don't you realize that you are paying in too much during the year, giving the government an interest free loan for the whole year? Wouldn't you rather spend or invest the money yourself during the year? Or are you so bad at saving money yourself that you want the goverment to do it for you? Or you don't know that you can change the amonut withheld?

Yes, I know a lot of you are going to say you have some special situation that you can't help but do it this way. I'm not talking about you. I'm talking about the people who could very easily change the amount they are having withheld from each paycheck.

Posted by Anonymous on Jan. 2, 2013 at 8:04 PM
Replies (31-40):
by Ruby Member on Jan. 3, 2013 at 8:53 AM
1 mom liked this

I hate it.  But the last time I made adjustments thinking I could break even, I ended up having to pay.  I would much rather give the government an interest free loan and get a small refund than be hit with a tax bill.

by Gold Member on Jan. 3, 2013 at 8:56 AM
My husband claims 2. He could technically claim 5 and we would be ok but we always end up owing state so we keep it there. And usually come out a couple thousand ahead.
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by on Jan. 3, 2013 at 8:59 AM

Yep,---interest free loans for the government...  Just another way they make out big,---and you pay...

by Anonymous 6 on Jan. 3, 2013 at 9:01 AM

We won't see any of our taxes this year, due to back child support and such.  Oh wells at least it'll be paid off.

by Anonymous 7 on Jan. 3, 2013 at 9:05 AM

Why do you even care?

by Anonymous 8 on Jan. 3, 2013 at 9:07 AM
Yes, yes I do....easiest way to save for us... Then it just goes into our retirement account and we get more back :)
Don't you just love the government!
by Ruby Member on Jan. 3, 2013 at 9:15 AM

I agree with you OP.  I don't get it either.  I think in most instances, it's that people just aren't good at saving money on their own so they let the gov't do it for them.  Sad if you ask me.  But hey, I don't really care about them.  I only care about myself.  I would rather have that money throughout the year so I can pay off debt sooner and not pay as much in interest on that debt.  Most people have some sort of debt, whether it be mortgage, car loan, credit card debt, student loans, etc.  All of that could be paid off sooner throughout the year and therefore would save the person from paying more in interest.  But if people would rather not save money then that's their own problem.

by Anonymous 9 on Jan. 3, 2013 at 9:21 AM
2 moms liked this
Have you been to any of the third world countries? Have you seen how horrible other people around the world live at the hands of their government? No, Our American government doesn't have it all figured out and sure there is enough greed to go around. But if you truly realized what a great nation we lived in and how free of a citizen you really are you wouldn't mind LENDING our government a small percentage of your money. Afterall, it IS a loan, not a donation.
by Anonymous 10 on Jan. 3, 2013 at 9:36 AM

a lot of our income is tax we end up overpaying AND getting back EIC

by Anonymous 11 on Jan. 3, 2013 at 9:40 AM

 The only people getting back large amounts of money are the EIC deadbeats who work for a grand total of a week or month during the year and then have 3 kids or so.  It's welfare money.

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