Since it’s tax season again, it’s time for me to say it once again —tax refunds are for suckers.
It’s somewhat incomprehensible to me that there are people out there who don’t realize a very simple fact — getting a tax refund means you’ve spend the last 12 months giving an interest-free loan to the government. You overpaid them, and the money you’re getting today is money you could’ve had months ago.
Wouldn’t it be better if you had that money back in July rather than getting it ten months later ? One would think most people would figure that out, but somehow everyone has bought into the IRS’s refund scam.
The bigger your refund, the bigger fool you are.
So remember. If you’re paying taxes this April, you’re doing good (and do it at the last minute, there’s no reason for the government to get your money any earlier than its supposed to). If you’re paying, you’ve just lost a sucker’s bet. Adjust your withholding, or pay estimated taxes, and keep your money in your own pocket.