As a tax preparer, I had clients ask me about changing withholdings all the time (I had a book taht listed paycheck amounts and how much would be taken out per paycheck...... fed income tax only, not state or FICA tax). I told them that if they are disciplined to save that extra $20/paycheck and not fritter it away, by all means go for it.
Unfortuantely in the real world, most people would fritter away that $$. And when a client uses a tax refund to fund an IRA, then there's no complaining about getting the refund in the first place.
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