Senate Should the Federal Government pay interest on tax refunds?

It's been quite a while since I posted here. I've been lurking since the new movies were announced and since the broad community here is what really kept me coming back I figured I'd mark my return with an interesting question: Do you think that the federal government should pay interest on tax refunds? I see tax withholding as essentially a loan to the government; the government should thus pay us some form of interest. What do you think?

By the way, if you are interested in an official response from the White House, sign this petition.

 

I'm pretty sure the government doesn't you marking your tax return with questions.

 

Getting a (large) refund is a sign of overwithholding which is usually a voluntary choice. So, no.

 

With interest rates as low as they are and probably not going up any time soon, it wouldn't really matter to anyone but those who get the largest refunds.

 

You have the choice at anytime to amend your withholding, so there is no need for any sort of significant refund. It's easily possible to make sure that you pay a little instead of getting a refund. So, no. It's the taxpayer's fault for giving Uncle Sam a tax free loan. Many people say "It's the only way I can save anything." Really? You can't put away $10/week or whatever and not touch it? What are you 6 years old?

 

I think the others have thoroughly demolished this "idea." No.

 

I would like a sheet with all the disclosures on it where all my federal tax money is going.

So I can see how the FED squanders tax payers money.

 

Your taxes go into the General Fund.

There.

 

yeah and than its squandered...

Sending billions over seas to some third world rats nest while there are many children living in abject poverty, without lights or running water in america. Or schools who are severely under funded,, etc etc etc.. the list is endless..

The reason they don't break down where your money goes because if the oublic knew no one would file income taxes, plus there would prob be riots everywhere.

 

EDIT: Wait, it's a Senate thread.

LandoCapeGuy, just look at the budget for the entire federal government. That's where it goes.

 

Do you have any idea how much of the budget is spent on foreign assistance?

 

Is it billions of dollars?

 

that doesn't give you any information you can actually use.

People would be shocked to find out how the FED wastes our taxes..

None of that money is used for anything like infrastructure. Most federal money is squandered on nonsense. If you actually believe our taxes are used properly I have a bottomless glass I wanna sell you.

I feel our federal government should be held to the same standards as a private company when it comes to handling money and "the books"

 

yes billions...

Than we get into a detailed discussion on what "foreign assistance" really means...

 

PAYING FOR SICK PEOPLE TO BE IN THE HOSPITAL=NONSENSE

Ron Paul 2012

 

Please enlighten me.

http://en.wikipedia.org/wiki/2013_United_States_federal_budget#Total_revenues_and_spending

 

oh boy guys. looks like we're in for another thread where landothecapecalrissian posts as if his uninformed opinion is the most important opinion in the world, and page after page of people for some reason responding to him.

 

what a completely ignorant not thought out comment.....

 

I feel like Wocky and Ghost know something, but they won't tell us what it is...

 

ya it shows you which division is using the money but it doesn't actually tell you how each division is using that money.... I wasn't disagreeing with you just stating you don't know where your money is "Actually" used.

 

It just takes a quick Internet search to find that information for most programs.

For example, here's the budget for the Department of Transportation:
http://www.dot.gov/budget

There's just a few that don't release all the details of their budget and aren't audited by the GAO, such as the CIA and Department of Defense.

 

Why is my opinion uninformed, because its different than what you believe????

You truly believe you get the most for your money, your family gets the most for their money, our country gets the most for their money... If you say yes than the government has another lap dog that needs stroking.

 

yes that's what I mean..... A lot of money if funneled through Defense or military but one ever knows how its spent.

It also doesn't tell you about the billions if not trillions year that is wasted or mismanaged through our political system

 

everyone knows that the government is notorious for some frivolous spending, and personally i'm appalled by the amount of money that goes to the military. that's because i'm a pacifist. but it's like you get your news from 90's jay leno monologues. and it's annoying how you always seem to try to take the most controversial stance even though it's basically indefensible. "none of the money goes toward infrastructure". oh, i guess the infrastructure just comes from magic then! or wealthy benefactors right? it's just silly and in this case your controversial stance is only tangentially related to the simple question that the op is asking. it's frustrating that every topic seems to turn into the topic that you want to discuss.

 

infrastructure comes from local and state taxes brainiac