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(CA.)Secret budget deal borrows from taxpayers
Sac Bee ^ | September 15, 2008 | Jim Sanders

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 ...


TOPICS: Government; US: California
KEYWORDS: borrowborrowborrow; calbudget; taxes
S.O.S.
1 posted on 09/15/2008 5:21:16 PM PDT by twistedwrench
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To: twistedwrench

Wow, get the popcorn!


2 posted on 09/15/2008 5:25:23 PM PDT by ConservativeMind (What's "Price Gouging"? Should government force us to sell to the 15th highest bidder on eBay?)
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To: twistedwrench

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.


3 posted on 09/15/2008 5:25:47 PM PDT by Ancient Drive
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To: twistedwrench

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...


4 posted on 09/15/2008 5:27:54 PM PDT by dinodino
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To: twistedwrench

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.


5 posted on 09/15/2008 5:30:42 PM PDT by Wiseghy ("You want to break this army? Then break your word to it.")
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To: dinodino

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.


6 posted on 09/15/2008 5:32:04 PM PDT by Ancient Drive
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To: twistedwrench
but the plan calls for providing future refunds to affected taxpayers

LOL. Sure. Anyone want to buy a bridge?

7 posted on 09/15/2008 5:34:28 PM PDT by paul51 (11 September 2001 - Never forget)
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To: twistedwrench
Federal government does the same thing. Nothing new. Who do you think is bailing out all the financial idiots? WE ARE.
8 posted on 09/15/2008 5:36:43 PM PDT by SQUID
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To: calcowgirl

Ping!


9 posted on 09/15/2008 5:45:53 PM PDT by SoConPubbie (GOP: If you reward bad behavior all you get is more bad behavior.)
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To: twistedwrench

your government brought to you by Arnold the Fool.


10 posted on 09/15/2008 5:52:46 PM PDT by edcoil
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To: twistedwrench
After growing the government by over 60%, God forbid that they cut 5%. There are no Statesmen left, only whores. We are a Kakistocracy.
11 posted on 09/15/2008 6:21:41 PM PDT by Mad_Tom_Rackham ("The land of the Free...Because of the Brave")
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To: twistedwrench
"But this isn't the budget that any of us wants."

This constitutes grand thinking in the land of fruits and nuts.
12 posted on 09/15/2008 6:34:52 PM PDT by stocksthatgoup (Pontius Pilate Voted "Present")
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To: twistedwrench

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.


13 posted on 09/15/2008 6:35:09 PM PDT by Lorianne
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