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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSmaller tax refunds put GOP on defensive
The Trump administration and key GOP lawmakers are playing defense after early data showed Americans are getting smaller tax refunds in the first filing season under the GOP tax law.
The average refund size through Feb. 8 was 8.7 percent smaller than the same period last year, according to IRS figures. Democrats have seized on the numbers, arguing they prove that the 2017 tax-code overhaul by Republicans was a "scam" designed to help the wealthy at the expense of the middle class.
Republicans have pushed back, emphasizing that most people are seeing a reduction in their total tax liability, and that smaller refunds are preferable because they mean taxpayers were paying a more accurate amount throughout the year via their paychecks.
https://www.msn.com/en-us/news/politics/smaller-tax-refunds-put-gop-on-defensive/ar-BBTLUKe?li=BBnb7Kz
gratuitous
(82,849 posts)Guess they're not thinking
Republicans Celebrate
That "leadership" isn't quite so exquisite anymore, I'm guessing.
guillaumeb
(42,641 posts)so that they will be, in effect, forced to save.
The weekly overpayment means that they will receive a larger refund. The overpayment constitutes an interest free loan, but if one is unable to save, this is one way to at least accumulate a lump sum of money for a year.
But the GOP promised that taxpayers would pay less money. Which is not true. And eliminating deductions and shifting bracket levels mean that many will, in fact, pay more.