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recipient of refundable credits complains about deficit

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    recipient of refundable credits complains about deficit

    Somewhat off-topic.

    Confession- I just couldn't resist this morning. I really try to refrain from this stuff, but this client was just elated to be getting a couple thousand dollar refund this year, saying how much he really, really needs the dough. His landscape biz is hurting, blah, blah, blah.

    Then he goes off about the nat'l deficit, and how he just wants to keep HIS $$, (ha-ha) and gov't should stop spending. That's a whole 'nother conversation, but . . .

    I couldn't resist flipping his return around and pointing out the so-called gov't spending (of not-his-$$) he was quite happily on the receiving end of: all the refundables he got this year like MWPC, EITC, refundable AOC, and reminding him about how his son and wife were getting gov't grants to fund nearly all of their tuition. He was stupefied. I know, bad me.

    #2
    You could have shown him Page 91 of the Form 1040 instructions. In the lower-left hand corner is the explanation for how any taxpayer can send a contribution to be used to pay down the national debt. They even get a tax deduction for the contribution if they itemize.

    I've shown that to a few "National Debt" complainers over the years and explained this is a legitimate way to express their outrage by putting their money where their mouth is. Backing up their rhetoric with genuine action, so to speak.

    Funny thing - nobody I've shown this to has ever complained to me again.
    "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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