For a while now, since the Tiger Woods scandal broke, I have used this saying: Just because it is said doesn't make it true and just because it is true doesn't mean it ought to be said. Remember the source and the agenda of that source. It makes a huge difference.
Imagine my surprise to read today that American's tax refunds went up this year. That's quite frankly not true. The story says refunds are up 10% over last year due to the American Reinvestment and Recovery Act. Well, last year, I received a $1300 refund. This year, I owe $423. That doesn't sound like a bigger refund to me.
Here's the simple math. The article sites four tax credits which are temporary, one-time boosts to certain people's tax refunds and not permanent. The article doesn't refer to people like me who broke into the 25% tax bracket from the 15% tax bracket in which I was last year. I earned more money in AGI this year, significantly more in fact, which pushed me into that higher tax bracket. Unless you are trying to make your home energy efficient, attending college, and/or collecting unemployment, you are not really a beneficiary of this. Beware what they say.
I am not complaining per se. I earned more money in 2009 which is actually pretty rare. The same will not be true in 2010. I took an effective 25% paycut, so I will probably get a nice refund next year. A 25% paycut beats a 100% paycut, but I did not do better on my taxes. This is arrogant and condescending to assume something is true just because someone said it, especially some faceless staff contributing writer who posts something to the internet.
Weeks ago, I sarcastically said to a friend, "If Facebook doesn't say it, it isn't true." Beware what you read on the internet, and beware what people tell you. Investigate it for yourself. Take advantage of what differentiates us from all other mammals- our ability to think, to reason, and to read.
He who does not read has no advantage over him who cannot.
Imagine my surprise to read today that American's tax refunds went up this year. That's quite frankly not true. The story says refunds are up 10% over last year due to the American Reinvestment and Recovery Act. Well, last year, I received a $1300 refund. This year, I owe $423. That doesn't sound like a bigger refund to me.
Here's the simple math. The article sites four tax credits which are temporary, one-time boosts to certain people's tax refunds and not permanent. The article doesn't refer to people like me who broke into the 25% tax bracket from the 15% tax bracket in which I was last year. I earned more money in AGI this year, significantly more in fact, which pushed me into that higher tax bracket. Unless you are trying to make your home energy efficient, attending college, and/or collecting unemployment, you are not really a beneficiary of this. Beware what they say.
I am not complaining per se. I earned more money in 2009 which is actually pretty rare. The same will not be true in 2010. I took an effective 25% paycut, so I will probably get a nice refund next year. A 25% paycut beats a 100% paycut, but I did not do better on my taxes. This is arrogant and condescending to assume something is true just because someone said it, especially some faceless staff contributing writer who posts something to the internet.
Weeks ago, I sarcastically said to a friend, "If Facebook doesn't say it, it isn't true." Beware what you read on the internet, and beware what people tell you. Investigate it for yourself. Take advantage of what differentiates us from all other mammals- our ability to think, to reason, and to read.
He who does not read has no advantage over him who cannot.
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