A simple set of facts that interest me, and I hope you.
Last year, my household income was very much greater than it is currently. I’m not working at the moment, and I was last year. While our total aggregate income tax was quite dramatic, we still received a very significant tax refund.
This year we had a significant tax debt. Last year our refund was about 3 percent of our income for that year; this year we owed about 2 percent of our annual income. This is despite the fact that our household income this year was just about 60 percent of last year’s.
Thank you, Mr. Resident!