Rebates to Relieve Debt


When it comes to tax rebate checks, American consumers may not be so eager to spend, spend, spend.

A CCH and Harris Interactive survey asked 2,020 adults what they would do with a broad-based tax rebate. Their responses were:

Pay down debt - 47%

Save it - 32%

Spend it - 21%


Across all income levels, paying down debt was the most common response. In terms of employment status, only 17% of respondents working full time said they'd spend the rebate, while 29% and 32% of unemployed and retired respondents were likely to spend it.

Source: CCH Complete Tax survey, www.completetax.com.

 

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