It’s tax time. It’s the time of year when people brag about the amount of money they’re getting from the government… It’s as if they won the lottery! “I’m getting back $XXXX.XX” or “my income tax check just arrived in the mail and I’m going to spend it on [something nice]!!!”
This drives me crazy.
It’s not a windfall, people! It’s not the lottery. It’s not new money.
It’s YOUR money and you’re just getting it BACK from the government. You’re getting it back because you over-paid your taxes earlier in the year and basically gave the government a long-term, interest-free loan.
So that big check you’re getting could have been spent elsewhere, earlier; or it could have been invested to earn even more money.
The perfect income tax return is one in which you owe/receive absolutely nothing. The second-best income tax return is one in which you owe money. The worst kind of tax return (and, ironically, the most favored) is the one where you get money back.