With tax day upon us, three in four Americans expect they will file their income taxes on time this year, and most who file expect a refund from the federal government. Still, nearly half of Americans feel they pay more than their fair share in taxes. Those who expect to owe money this year are particularly likely to feel they pay too much — 60% hold this opinion.
But politics plays an even larger role in how people feel about the amount of money they pay in taxes. Democrats and liberal Americans mostly feel the amount of money they pay in taxes is about right, while Republicans and conservatives tend to feel they pay more than their fair share. Independents and moderates are more divided.
This year, while a quarter of Americans expect to owe more money in taxes this year, most — 6 in 10 — expect to get money back from the government.
But hardly any of those expecting a refund plan to spend it on something special or fun, and fewer than a third will be using it to either boost their savings or to pursue investment opportunities. Instead, more than