Half of tax refunds to go to pay debts

[lovuian]

Half of tax refunds to go to pay debts

http://feeds.bignewsnetwork.com/?sid=8be2a3b09fd594d4

Big News Network.com Monday 28th March, 2005 (UPI)

Half of all consumers who get a tax refund plan to use it to pay down debt, a survey by the National Retail Federation indicates.

The NRF's survey, conducted by BIGresearch, also indicates more than a third also hope to put some of the money into savings (39 percent). Some consumers plan to use a portion of their refund for everyday expenses (24.1 percent), vacation (13.4 percent) or a major purchase (9.1 percent).
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That tells you that Americans are retrenching!!!

[NYC]

1. Paying debt is the best thing they can do.

I'm glad to hear it.

[gumby]

2. Pulled out my copy of "Who Really Pays The Taxes"

the other day. It's outdated but topical.

[nadinbrzezinski]

3. Yep guilty as charged

[China_cat]

4. What's a refund?

We're now up to 2/3 of the salary my husband was making 4 years ago, before a forced 2 year hiatus, he's having to work 2 jobs in order get that 2/3 and we're having to pay $2400 over and above what was withheld. Which was for 0 deductions plus some extra rather than the 2 he was entitled to.

Great tax cut. I guess we'd be looking at about $3200 without it.

It's the first time in 31 years that we've had to pay.

[napi21]

5. I'm quite surprised that it's only 50%

I would think it's much higher than that.

[Nickster]

6. Guilty too. Little over half of it for debt, rest for everyday expenses.

[Toots]

7. Half of the taxes you actually pay go to paying debt also..

The Federal Debt is spiraling out of control. The government pays more in interest on our debt than they pay for our national defense. Just think how well off we would be if we were to pay off our debt instead of increasing it. Clinton was doing that very thing and Bush* promised he would do so also but then we know how he keeps his promises. He is an out an out LIAR...