For a while this morning the lede news story on Yahoo!’s opening page was a HuffPost piece about people being angry that they are getting smaller refunds due to the Trump tax cuts.
The story reports on the chagrin thusly:
“The average refund check paid out so far has been $1,865, down from $2,035 at the same point in 2018, according to IRS data. Low-income taxpayers often file early to pocket the money as soon as possible. Many taxpayers count on the refunds to make important payments, or spend the money on things like home repairs, a vacation or a car.”
The story does at one point in passing note that the tax code changes meant that in some cases not enough money was withheld by employers. But nowhere in it does it note that in the vast majority of these cases the total tax bill for 2018 is less than the prior year. People just got to kept it with each paycheck and did not make interest-free loans to the federal government.
At the least the USA Today version of this story does mention the overall lower tax bill, but not until the last paragraph, which reads:
“Getting a smaller refund doesn’t mean you’re paying more in total in taxes. In many cases, much of your tax savings showed up in each paycheck, which could result in a smaller refund.”
As Bugs Bunny would say: What a bunch of maroons. Chalk this up as fake news.