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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	4/10/2002 11:28:59 AM
From: Joe Stocks	of 787

$17 bil more refunds than last year at this time. That's more for consumers to spend. The "bubble" gets bigger. TAX TALK: The IRS is reporting that through March 23rd, the average tax refund is up 12% to $1,980. Roughly 99 million refunds are expected to be distributed this year compared to about 96 million last year. Importantly, as of March 30th, tax refunds have totaled $17 billion more than last year at this time. The refunds are likely one factor behind the strong pace of consumer spending this year as well as the recent jump in consumer confidence. Interestingly, of the $117.1 billion in refunds disbursed this year, about $74 billion was deposited directly into checking or savings accounts. That's a 26% increase from last year.

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