Tax refunds are $11.5 billion behind our forecast: UBS
Spring tax refunds typically give the economy a boost as the money rolls in and people either pay down debt or go out and spend, so economists and analysts pay close attention to the size of these windfalls.

A new research note from UBS finds that net payments to households are now running below its economists’ forecast, a shortfall of $11.5 billion of the $20 billion in extra cash that the economists had expected compared to last year.

As of the latest IRS numbers, 27 million returns have been processed and the average refund is $1,949, down 8.7% compared to last year .

It is still relatively early in the refund season, but UBS noted that should this continue, it would have a “meaningful effect” on its Q1 forecast. The economists, “with hesitance,” maintain their forecast for the additional $20 billion coming to households compared to last year by the end of May.
https://www.yahoo.com/finance/news/t...223444441.html

The shitty Russia Tax Cut that halted all market growth in 2018, that exploded the deficit, that didn't raise wages or bonuses, now appears to wreak havoc on GDP growth.

The Russia Tax Cut is going to be responsible for hindering economic growth, which is the opposite of what its supporters have claimed.