The Republicans made a big mistake when they changed the withholding tables on our taxes last year, eager to make the “pay raise” immediate.
The only problem is, if you withhold less, you get less refund. But many average people don’t realize that.
They typically let their employer withhold thousands of extra dollars and then receive a large chunk refund. It’s like a savings account.
Congress mistakenly thought the sugar high of immediate tax gains would win them goodwill, but people haven’t noticed any big increase in their pay as they were promised. They are noticing now that their refund is gone.
Too little of the tax break went to working people, and hiding it in the withholding tables was a giant political mistake.