Posts Tagged ‘tax refund anticipation loans’

SF Chronicle Nails Big Consumer Ripoff

Sunday, April 11th, 2010 by Al Lewis (alewis)
During tax season, millions of people become victims of government-licensed loan sharks. That temporary storefront in your local neighborhood might say “tax preparation,” but in some cases it should say “high-cost loans.”
Here’s how it works: After these tax preparers calculate a customer’s tax refund, they offer a 90 percent payout on the spot, a so-called [...]

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$1.5 Billion in Cash for the Working Class…at No Cost to Taxpayers

Monday, March 8th, 2010 by Al Lewis (alewis)

The federal government excels at throwing money at problems, no surprise given decades of practice.  They don’t need my help with that, which is why these posts always propose solving problems without throwing money at them. 
Today we tackle the “Tax Refund Anticipation Loan,” a total rip-off even as compared to the rest of the [...]

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