New IRS Tax Return Data Shows People are COMPLETELY Out Of Money
About this episode
The episode discusses the implications of new IRS tax return data showing that most Americans are not spending their tax refunds, focusing instead on saving and debt repayment.
The good news is the IRS is reporting about a 10% rise in average income tax refunds. However, the initial data is showing most Americans are just not spending the windfall. Understandably, they’re either saving the money or more often paying down debt. Those are certainly positive in their own way, helping struggling taxpayers repair their own fiscal balance sheets after years of limited income growth and jobs, but from the broader economic perspective it’s not what was hoped. Eurodollar University's Money & Macro Analysis ------------------------------------------------------- In a world where markets swing on every headline, focus matters. That’s why Eurodollar University offers One Big Weekly Theme — a disciplined, thematic analysis you can count on. If you don’t have the time to go all the way to the depth of Eurodollar University’s comprehensive Deep Dive Analysis and want the next best thing, One Big Weekly Theme is for you. Visit https://eurodollaruniversity.substack.com ------------------------------------------------------- Did the 2008 Tax Rebates Stimulate Spending? https://pmc.ncbi.nlm.nih.gov/articles/PMC3522430/ Tax Refund Splurge for Many Americans Is Paying…
People in this episode
Host: Jeff Snider
Topics covered
- tax returns
- economic analysis
- consumer spending
- debt repayment
- income growth
Mentioned in this episode
Organizations: IRS, Bloomberg
Books & works: Eurodollar University
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