Posted on 09/15/2008 5:21:16 PM PDT by twistedwrench
With little or no public input, California lawmakers are expected to vote late today on a closed-door weekend budget deal that depends largely on borrowing billions from taxpayers.
A key element of the deal would increase by 10 percent the amount of income taxes withheld from working Californians, and from taxpayers who earn income from investments.
The maneuver would generate about $3.8 billion to ease the budget crunch, but the plan calls for providing future refunds to affected taxpayers.
(Excerpt) Read more at sacbee.com ...
Wow, get the popcorn!
I was listening to John and Ken earlier. It is infuriating that the CA legislature is doing this. They’re collecting the taxes earlier and earlier so they can have more spending money at the beginning of the fiscal year. smoke and mirrors, and when that isn’t enough, they will insert some kind of tax in between. the highest tax rate in the U.S. for businesses and all the CA legislature can think of is getting that tax money quicker. They’re killing our state economy, and running businesses out of town with their tax-and-spendus crap.
Wow, holy crap! Glad I don’t live there, but I’m sorry for those (working) folks who do!
I’m really, really sure that the State of California will issue those refunds later...
This looks like a disaster.
Please Vote Yes on Prop. 11 in CA. It’s time we took back our gerrymandered state. It’s not perfect, but it’s a start in the right direction.
In CA, the politicos obviously have no fear of, or concern for, the voters. They answer to party heads and interest groups only.
As it is, I expect this budget will drive high income earners and wealthy retirees from the state in record numbers. Everyone left will be on the dole or close to it.
tell me about it. I did the numbers and this is what came out: I am working a week and 1/2 of every month(for the government) just to pay off my taxes.
LOL. Sure. Anyone want to buy a bridge?
Ping!
your government brought to you by Arnold the Fool.
Time to quite the legit job and stop paying taxes. Everybody should become an ‘undocumented worker’ until the gov figures out not to rape the taxpayers.
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