Two-thirds of millennials expect to receive a tax refund this year, more than any other age group. The likelihood of receiving a tax refund decreases with age: just 35% of people age 50 and older anticipate getting money back from the government.
Although experts generally frown upon receiving a tax refund because it amounts to an interest-free loan to the government, 38% of Americans prefer to receive a big refund and another 19% prefer a small refund.
“It’s surprising that so many people still prefer to get a big refund, rather than adjust their withholding to get their money throughout the year,” said Bankrate.com tax analyst
- Additionally, 43% of millennials are willing to pay higher taxes in exchange for free college tuition for all students, versus just 20% of other adults.
- Senior citizens are significantly more likely than other age groups to support higher taxes for repairing and rebuilding roads, bridges and mass transit.
- 22% of all Americans would welcome higher taxes if they would lead to free health care for anyone who needs it.
The survey was conducted by
PSRAI obtained telephone interviews with a nationally representative sample of 1,003 adults living in the continental
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