Poll: Tax Refund - What Will You Do?
Poll: What will you probably do with an extra $800 (individual) or $1600 (household) tax refund?
What government economists in the US want to hear you say is that you will SPEND the money on US-OWNED/MADE products or services.
Will you do this or something else? If something else, what?
My answer is I will use it to reduce my debt.
The White House has provided few details, but in conversations with lawmakers, he mulled provisions to let businesses partly deduct new capital investments, coupled with income-tax rebates of $800 for individuals, or $1,600 for households. The idea, Mr. Bush said on Friday, was to let people “keep more of their own money.” [NY Times]
Please vote by leaving your comments.
Comments
I'm a firm believer in not hoarding money, but setting it aside for a specific purpose. We received a $3,400 refund once, and we put it all towards my wife's school debt. She had $35,000 of debt when we got married, and we had it paid off in a little under three years.
We've had several occasions to receive some money we weren't expecting. Our rule about that has been typically to give it away. Man, we've had some real fun with that.
Paying off debt is good. I don't recall ever receiving money I was not expecting, so I cannot say what I might do, although paying off more debt would probably be my goal. Since I don't gamble or play the lottery and have no rich friends or family, I doubt I will ever know what it is like. Sounds as if you have had fun though.