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Mom Confessions Mom Confessions

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 (41-50):
owl0210
by Emerald Member on Jan. 3, 2013 at 9:41 AM

 I adjust it so that I don't get much back.

MrsRi
by on Jan. 3, 2013 at 9:43 AM

I almost always break out even except for when I qualified for the EIC.

ForeverInLove
by Bronze Member on Jan. 3, 2013 at 10:01 AM

You know what, without taxes that get saved to the end of the year, the government wouldn't actually have much to operate on.

Despite the fact that you get cents on tens of dollars in a credit union or bank, it's essentially the exact same thing there. They use YOUR money to give loans to other members/customers, and then you get maybe a penny to the dollar while they make $.05 to $.50 on that same dollar that is being loaned to the other member. 


We can bitch because the government is using money that we've paid in in the form of taxes, but really, how do you propose funding be otherwise? How do you propose they help those in need? How do you propose they fund testing for things liks cars, car seats, medicines, supplements, new medical procedures and such? All these things are headed (overseen) by a government agency, that attempts to make sure this stuff is fairly safe (unless they are being paid off by places like Mercks or Glaxo, Smith, and Kline) for the market? Without the 'interest free loan', we wouldn't have enough funding to run things like FDA, CDC, NHTSA, VAERS, and even almost more importantly, THE MILITARY! Those guys, and gals, are working for shit money while they dodge bullets! If anything, I'd like to see more of my interest free loan, be used to make sure they can remain safer, and that they are cared for when they come home with a lifetime of counseling for even the smallest amount of PTSD.

ratchetlee
by on Jan. 3, 2013 at 10:14 AM

NOPE!  That's why I prefer to 'break even'..... or if I get or owe $100.00 is fine... I don't want a big chunk back in April or to pay a big chunk!!!  

Anonymous
by Anonymous 12 on Jan. 3, 2013 at 10:16 AM
We paid in $400 and will be getting over $8k back. I don't mind "loaning" them my $400.
mommyrustina
by Platinum Member on Jan. 3, 2013 at 10:16 AM
1 mom liked this

Oh no, I am losing thirty two dollars, save me from my poor decisions!

Anonymous
by Anonymous 13 on Jan. 3, 2013 at 10:17 AM
1 mom liked this
No. I don't give a rats ass about giving the government an interest free loans. Seriously, it's like 200 bucks. Who cares? The definition of a LOAN is something that is returned to you. So why would I care about LOANING them 200 bucks then getting back 7000 bucks in refunds?

Lol nobody gives a shit when they GET BACK money they LOAN to anyone..
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brittany208
by on Jan. 3, 2013 at 10:25 AM


Quoting unspecified42:

I'm not great at saving money, and I don't see why it's a bad thing to "give the government an interest free loan." I like getting a decent chunk back.


you could have a set amount automatically taken from your bank and put into an account that would get you interest. It's the same idea, but you get paid to do it.

unspecified42
by on Jan. 3, 2013 at 10:27 AM
And interest rates are hovering under 1% currently for savings accounts. Maybe a few dollars? Nah


Quoting brittany208:



Quoting unspecified42:

I'm not great at saving money, and I don't see why it's a bad thing to "give the government an interest free loan." I like getting a decent chunk back.


you could have a set amount automatically taken from your bank and put into an account that would get you interest. It's the same idea, but you get paid to do it.


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FooLynRoo
by on Jan. 3, 2013 at 10:31 AM

If we took standard deductions we would get close to 100 or 200 dollars back, so my W4 is accurate.

the majority of our refund is because we itemize our deductions, which fluctuate from year to year, based on mortgage interest, charitable donations, taxes etc.

These things vary too much for me to feel comfortable cutting back on our CORRECTLY figured payroll deductions.


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